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Office, registered or certified, postage prepaid, addressed <br />to the addresses of the parties as shown on Exhibit "B ", <br />shall be deemed to have been received by the party to whom <br />the same is addressed at the expiration of seventy -two (72) <br />hours after deposit of the same in the United States Post <br />Office for transmission by registered or certified mail as <br />aforesaid. <br />11.3 Effective Date. <br />This Agreement shall be effective and the Agency <br />shall exist at such time as this Agreement has been executed <br />by any five or more of the public agencies enumerated herein. <br />11.4 Arbitration. <br />Any controversy or claim between any two or more <br />parties to this Agreement, or between any such party or <br />parties and the Agency, in respect to the Agency's opera- <br />tions, or to any claims, disputes, demands, differences, <br />controversies, or misunderstandings arising under, out of, or <br />in relation to this contract, or any breach thereof, shall be <br />submitted to and determined by arbitration. To the extent <br />not inconsistent herewith, the rules of the American Arbitra- <br />tion Association shall apply. The party desiring to initiate <br />arbitration shall give notice of its intention to arbitrate <br />to every other party to this Agreement and the Agency. Such <br />notice shall designate as "respondents" such other parties as <br />the initiating party intends to have bound by any award made <br />therein. Any party not so designated but which desires to <br />-26- <br />