10.4 No Warranty Extension Investigations, repairs, replacements and other actions taken by us with respect to your home will not extend the warranty coverage period or any other limitations period within which you must bring a claim. 10.5 Transfer of Warranty to Subsequent Owners This warranty is provided to the original owner of the home and it automatically transfers to the subsequent owner upon the transfer of title to the home. However, the transfer of this warranty does not extend the warranty coverage period. You agree to provide a copy of this warranty to the subsequent owner who purchases the home from you. To assist with record keeping, we ask that you inform us of ownership changes by using the subsequent owner transfer form included with this warranty. Additional forms are also available by contacting us or PWSC. Each subsequent owner will be bound by (1) all terms of this warranty, including, but not limited to, those regarding arbitration; and (2) every act or failure to act by any past owner to the extent that the act or failure to act affects this warranty or the rights and obligations of either party. 10.6 Additional Documents The performance standards and the HUD Addendum (if applicable) are incorporated into this warranty by reference. The terms of this warranty will control and govern over the terms of the performance standards, but not over the HUD Addendum. 10.7 Severability If any provision of this warranty is held to be illegal, invalid, or unenforceable under present or future laws, that provision will be fully severable. This warranty will then be construed and enforced as if the illegal, invalid, or unenforceable provision had never been a part of it, and the remainder of this warranty will be enforced to the greatest extent permitted by law.
SECTION 10: General Information 10.1 Insured Warranty - HUD
Our obligations under this warranty are backed by insurance coverage from a member company of Zurich North America group where such coverage is required by HUD, the VA, or other applicable laws or regulations requiring or regulating new home insured warranties. In those circumstances only, if we do not meet our obligations under this warranty, then (i) you can submit a claim to PWSC who will process the claim on behalf of the insurer, and (ii) the insurer is responsible to perform our obligations under this warranty. However, if a warranty claim must be resolved by the insurer, the total liability of the insurer under this warranty is limited to, and will not exceed, the following. amount (i) the lesser of: (a) the total sales price of the home paid by the original purchaser to us, or (b) the reasonable cost of correcting the construction defect; (ii) less all amounts paid by or on behalf of us or the insurer under this warranty. For additional details regarding the insurer’s obligations, see the HUD Addendum. 10.2 Modifications This warranty cannot be modified except in writing signed by our authorized officer. 10.3 Force Majeure (Delaying Events) The performance of our obligations under this warranty may be delayed by events beyond our reasonable control, including, but not limited to, adverse weather, acts of nature, strikes, material shortages, acts of government, or third parties not within our control, and your failure to cooperate. After the delaying event ends, we will resume and continue our performance obligations. Any delay resulting from a force majeure event will result in an extension of the time for us to perform our obligations equal to the number of days the event lasted. However, any extension of time for us to perform due to a force majeure event does not extend the warranty coverage period.
23
Powered by FlippingBook