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4/23/13 15 <br />Arbitration Notice shall contain a description of the subject matter of the arbitration, the dispute <br />with respect thereto, the amount involved, if any, and the remedy or determination sought. The <br />Owners shall, within ten (10) days, after the initiation of the arbitration, attempt to agree on a <br />retired judge from the JAMS panel to serve as the Arbitrator. If they are unable to so agree, <br />JAMS will provide a list of three available judges and each party may strike one. The remaining <br />judge (or if there are two, the one selected by JAMS) will serve as the Arbitrator. If JAMS shall <br />no longer exist or if JAMS fails or refuses to accept submission of the dispute, the dispute shall <br />be resolved by binding arbitration before the American Arbitration Association (“AAA”) under <br />the AAA’s commercial arbitration rules then in effect. <br /> (d) Pre-Decision Arbitration Procedures. The Arbitrator shall schedule a pre-hearing <br />conference to resolve procedural matters, arrange for the exchange of information, obtain <br />stipulations, and narrow the issues. The Owners will submit proposed discovery schedules to the <br />Arbitrator at the pre-hearing conference. The scope and duration of discovery will be within the <br />sole discretion of the Arbitrator. The Arbitrator shall have the discretion to order a pre-hearing <br />exchange of information by the parties, including, without limitation, production of requested <br />documents, exchange of summaries of testimony of proposed witnesses, and examination by <br />deposition of Owners and third-party witnesses. This discretion shall be exercised so as to limit <br />the scope of discovery to the amount of discovery which the Arbitrator determines to be <br />reasonable under the circumstances. <br /> (e) Arbitration Hearing. The arbitration shall be conducted in San Leandro, <br />California. Any Owner may be represented by counsel or other authorized representative. The <br />Owners may offer such evidence as is relevant and material to the dispute. The Arbitrator shall <br />be the judge of relevance and materiality. <br /> (f) Governing Law. In rendering a decision, the Arbitrator shall determine the rights <br />and obligations of the parties according to the substantive and procedural laws of California and <br />the terms and provisions of this Lease. <br /> (g) Arbitration Award. The Arbitrator shall issue the award as soon as reasonably <br />possible following the conclusion of the arbitration hearing, but in no event later than thirty (30) <br />days after the conclusion of the arbitration hearing. The Arbitrator’s award shall be based on the <br />evidence introduced at the hearing, including all logical and reasonable inferences therefrom. <br />The Arbitrator may make any determination, and/or grant any remedy or relief that is just and <br />equitable; provided, however, in no event may the Arbitrator award punitive damages. The <br />award must be based on, and accompanied by, a written statement of decision explaining the <br />factual and legal basis for the award as to each of the principal controverted issues. The award <br />shall be conclusive and binding, and it may thereafter be confirmed as a judgment by the <br />Superior Court of the State of California, subject to challenge only (i) on the grounds set forth in <br />California Code of Civil Procedure Section 1286.2, or (ii) based upon the Arbitrator’s incorrect <br />application of the substantive laws of California. The validity and enforceability of the <br />Arbitrator’s decision is to be determined exclusively by the California courts pursuant to the <br />provisions of this Agreement. <br /> (h) Attorneys’ Fees and Costs. The Arbitrator may award costs, including, without <br />limitation, attorneys’ fees, and expert and witness costs, to the prevailing party, if any, as