During the course of the renovation, a dispute arose between the parties as to work and progress upon the building. In 1980, the parties submitted the dispute to arbitration. Paragraph 1 of the submission agreement begins as follows: "1. The parties hereto do hereby submit any and all manner of actions, each and every cause, and all causes of actions, suits, controversies, claims, and demands whatsoever, now pending and existing by and between them, as aforesaid to Mr. Walter...
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