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agreed to by the Members. No such dedication or transfer shall be effective unless an instrument signed by two-thirds of the members agreeing to such dedication or transfer has been recorded. ARTICLE VII PARTY WALLS Section 1. General Rules of Law to Apply. Each wall which is built as part of the original construction of the buildings upon the properties and placed upon the dividing line between the Lots, shall constitute a party wall and to the extent not inconsistent with the provisions of this Article, the general rules of law regarding party walls and of liability for property damage due to negligence or willful acts or omissions shall apply thereto. Section 2. Sharing of Repair and Maintenance. The cost of reasonable repair and maintenance of a party wall shall be shared by the Owners who make use of the wall in proportion to such use. Section 3. Destruction by Fire or Other Casualty. If a party wall is destroyed or damaged by fire or other casualty, any Owner who has used the wall may restore it, and if the other Owners thereafter make use of the wall, they shall contribute to the cost of restoration, after all available insurance proceeds have been exhausted, thereof in proportion to such use without prejudice, however, to the right of any such Owners to call for a larger contribution from the others under any rule of law regarding liability for negligent or willful acts or omissions. Section 4. Weatherproof mg. Notwithstanding any other provisions of this Article, any Owner who, by his or her negligent or willful act, causes the party wall to be exposed to the elements shall bear the whole cost of furnishing the necessary protection against such elements. Section 5. Rights to Contribution Runs with the Land. The right of any Owner to contribution from any other Owner under this Article shall be appurtenant to the land and shall pass to such Owner's successors in title. Section 6. Encroachments. If, for whatever reason, a wall intended to be a party wall is not precisely constructed on the dividing line between two Lots, during the life of the building containing such wall, the Lot upon which such party wall encroaches shall be subject to an easement for the life of such building which shall be in favor of and appurtenant to the other Lot, to the end that for all purposes of this Declaration, such wall shall be treated as if it were centered precisely upon the common Lot line. Section 7. Arbitration In the event of any dispute ansmg concerning a party wall, under the provisions of this Article, and if the dispute is not resolved within 30 days of the event causing the dispute, each party shall choose one arbitrator and such arbitrators shall choose one additional arbitrator and, the decision of a majority of all of the arbitrators shall be final and conclusive on the question involved. The arbitration shall be binding and conducted under the Rules of the American Arbitration Association, and the costs of the arbitration shall be borne equally by such parties. 10