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~ o~--~-~ ~ ' 21 < < ~~ ~ III IIIIIIIIIIIIIIII <br />s l ~ - ~,xh,b- ~- i <br /><~ <br />• ARTICL-c IY: <br />REI~IEDILS <br />9.1 Rem cd ics of Arness. Upon the occurrence of an <br />Event of Default described in 'Section 8.1 hereof, Arness <br />sF.all have in addition to any other remedy yranted herein or <br />in the Exploration and Development Agreement or otherwise <br />provided by law, the right to set off and credit against any <br />payment otherwise due hereunder any sums expended or lost by <br />it by reason of such Event of Default. <br />9.2 Rem ed ics of Energy Capital. Upon the occurrence <br />of any Event of Default described in Section 8.2 hereof, <br />Energy Capital may terminate this agreement, whereupon <br />Arness shall forfeit and Energy Capital shall recover all <br />rights, privileges, and interests granted to Arness by <br />. Energy Capital hereunder, and Energy Capital shall retain <br />any and all pa}-ments previously made to Energy Capital by <br />7sncss hor e•:n'_cr, end ch.'_1 recover dar..a5.s, e_ ha:•e rec c~_rse <br />to any other remedy in law or equity, appropriate under the <br />circumstances. <br />ARTICLE x <br />ARBITRATION <br />She parties hereby submit all disputes, controversies, <br />claims and matters of difference arising under this agreement, <br />to arbitration in Denver, Colorado, according to the rules <br />and practices of The American Arbitration Association from <br />time to tine in force, e>:c ept that i£ such rules and practices <br />shall conflict with the Colorado Rules of Civil Procedure or <br />any other provisions of Colorado law then in force, such <br />. Colorado rules and provisions shall govern. Tliis submission <br />. and agreement to arbitrate shall be specifically enforceable. <br /> <br />-1G- <br />