connection with the validity, interpretation, implementation or breach of this Agreement, the parties shall endeavor to resolve the same by referring the same to the respective Advocates for the parties by way of mediation. In the event that any dispute or difference cannot be resolved through mediation, the parties shall refer such dispute or difference for arbitration by three arbitrators. The parties agree that for the purposes of this ARTICLE, the “LAND OWNER” shall be entitled to appoint one arbitrator whereas the “BUILDER DEVELOPER PROMOTER” shall be entitled to appoint one arbitrator and the two arbitrators so appointed shall appoint the third arbitrator. The Parties agree that the decision of the arbitrators shall be final and binding upon the Parties. The arbitration shall be conducted in English language and the place of arbitration shall be in Khopoli and the laws applied at such arbitration shall be the Laws of India. The arbitration shall be governed by the provisions of the Arbitration and Conciliation Act, 1996 or any reenactment or modification thereto. It is agreed that except in the event of termination of this Agreement, the Parties shall continue to observe and perform their respective obligations under the terms of this