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12.5 Mediation. 201503252 Nothing set forth in this Section shall be construed to impose any obligation on the Declarant or a Designed Builder to inspect, test, repair, or replace any item or Alleged Defect for which the Declarant or a Designated Builder is not otherwise obligated under applicable law or any limited warranty provided by the Declarant or Designated Builder in connection with the sale of the Lots. The right of the Declarant and the Designated Builders to enter, inspect, test, repair, and/or replace reserved hereby shall be irrevocable and may not be waived or otherwise terminated except by a writing executed and Recorded by the Declarant or Designated Builder. In no event shall any statute of limitations be tolled during the period in which the Declarant or Designated Builder conducts any inspection or testing of any Alleged Defects. If the Claimant and Respondent do not resolve the Claim through negotiation within thirty (30) days after the date of the Claim Notice or within such longer period as may be agreed upon by the Claimant and Respondent ( "Termination of Negotiations "), Claimant shall have an thirty (30) additional days within which to submit the Claim to mediation by an independent mediation service agreed upon by the Claimant and Respondent. If Claimant does not submit the Claim to mediation within thirty (30) days after Termination of Negotiations, Claimant shall be deemed to have waived the Claim, and Respondent shall be released and discharged from any and all liability to Claimant on account of such Claim. If the Claimant and Respondent do not settle the Claim within thirty (30) days after submission of the matter to the mediation process, or within such time as determined reasonable or appropriate by the mediator, then the mediator shall issue a notice of termination of the mediation proceedings ( "Termination of Mediation Notice "). The Termination of Mediation Notice shall set forth when and where the parties met, that the parties are at an impasse, and the date that mediation was terminated. 12.6 Binding Arbitration. If a Claim is not resolved by mediation, the Claimant shall have fifteen (15) days after the date of the Termination of Mediation Notice to submit the Claim to binding arbitration in accordance with this Section. If the Claimant fails to timely submit the Claim to arbitration, then the Claim shall be deemed waived and abandoned and the Respondent shall be relieved of any and all liability to Claimant arising out of the Claim. If the Claimant submits the Claim to binding arbitration in accordance with this Section, the arbitration shall be conducted in accordance with the following: (a) Initiation of Arbitration. The arbitration shall be initiated by either party delivering to the other a Notice of Intention to Arbitrate as provided for in the American Arbitration Association ( "AAA ") Commercial Arbitration Rules or such other AAA rules as the AAA determines to be applicable (the "AAA Rules "). A Respondent may join as a party to the arbitration any Bound Party who may be liable to the Respondent or the Claimant with respect to the Claim. Page 54 of 69