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XI. <br />MISCELLANEOUS <br />11.1 Amendments. <br />This Agreement may be amended with the approval of not less than three - fourths <br />(3/4) of all Parties; provided, however, that no amendment may be made which would adversely <br />affect the interests of the owners of bonds, letters of credit or other financial obligations of the <br />Agency. <br />11.2 Notice. <br />Any notice or instrument required to be given or delivered by depositing the. same <br />in any United States Post Office, registered or certified, postage prepaid, addressed to the Parties, <br />shall be deemed to have been received by the Party to whom the same is addressed at the <br />expiration of seventy -two (72) hours after deposit of the same in the United States Post Office <br />for transmission by registered or certified mail as aforesaid. <br />11.3 Effective Date. <br />This Agreement shall be effective at such time as this Agreement has been <br />executed by any ten or more of the Parties enumerated in the introduction of this Agreement. <br />11.4 Arbitration. <br />Any controversy or claim between any two or more Parties, or between any such <br />Party or Parties and the Agency, in respect to the Agency's operations, or to any claims, disputes, <br />demands, differences, controversies, or misunderstandings arising under, out of, or in relation to <br />this Agreement, shall be submitted to and determined by arbitration. To the extent not <br />inconsistent herewith, the rules of the American Arbitration Association shall apply. The Party <br />desiring to initiate arbitration shall give notice of its intention to arbitrate to every other Party <br />and the Agency. Such notice shall designate as "respondents" such other Parties as the initiating <br />Party intends to have bound by any award made therein. Any Parry not so designated but which <br />desires to join in the arbitration may, within ten (10) days of service upon it of such notice, file a <br />response indicating its intention to join in and to be bound by the results of the arbitration, and <br />further designating any other Parties it wishes to name as a respondent. Within twenty (20) days <br />of the service of the initial demand for arbitration, the American Arbitration Association, <br />hereinafter referred to as "AAA," shall submit simultaneously to the initiating and to all Parties <br />named as respondents or filing a response therein, an identical list of names and persons chosen <br />from the AAA National Panel of Arbitrators which persons shall be, to the extent possible, <br />persons first in the field of transportation as well as public law. Each Party to the dispute shall <br />have seven (7) days from the mailing date in which to cross off any names indicating the order of <br />his or her preference, and return the list to the AAA. If a Party does not return the list within <br />such time period, all persons named therein shall be deemed acceptable. From among the <br />persons who have been approved on both lists, in accordance with the designated order of mutual <br />preference, the AAA shall invite the acceptance of an arbitrator to serve. If the Parties fail to <br />16 <br />