The Purchaser hereby acknowledges receipt of a written copy of the terms of the Limited Warranty and
Purchaser hereby affirmatively states that Purchaser has received such copy and reviewed same before
executing this Contract.
Seller warrants that the Residence will meet or exceed the standards of workmanship and materials relative
to the industry now existing in New York.
The Limited Warranty specifically excludes those items set forth in the Limited Warranty documents and
further excludes the Seller’s responsibility for the following: (i) nail pops and ridging on sheet rock surfaces;
(ii) sticking of doors due to weather; (iii) warpage of doors and closet shelves less than ½”; (iv) adjustments of
bifold doors; (v) bath tile grouting; (vi) slight separation in the joint of tiled floors; (vii) slight separation
between the wall base or base molding and floors; (viii) normal settlement or deflection and any consequential
damage resulting therefrom; (ix) normal noises from plumbing, heating, fans, vents and ducts; (x) partial or
total death of or damage to any plantings provided by Seller or existing prior to construction; (xi) nonstructural
or settlement cracks in walls, foundation, walks, terraces, patios, retaining walls, curbs or spalling of concrete
walks and terraces; (xii) nonalignment of kitchen cabinets; and/or (xiii) moisture and/or condensation in
basements and/or cra wl spaces.
Seller will not be responsible, subsequent to the closing of title, for paint touch-ups, repair of dented
appliances, repair of chips, scratches, breaks or other blemishes in windows, sliding glass doors, screens,
mirrors, electric fixtures and globes, interior painted surfaces, sinks, tubs, basins, kitchen cabinets and
counter tops, vanity tops and cabinets, medicine cabinets, ceramic tile floor and base and marble saddles,
resilient floor tile, carpeting, kitchen appliances, air conditioning units, dryer vents, woodwork and doors,
wrought iron, rubbish enclosures, other similar items, replacement of fluorescent light ballasts or any other
lights or light bulbs, maintenance due to normal wear and tear. Seller’s warranty excludes those items that
are a result of purchaser’s negligence or willful acts.
33. WAIVER OF JURY TRIAL
. In the event of institution of legal proceedings or litigation amongst the parties
hereto arising out of the terms, conditions and provisions of this Contract, each of the parties hereto expressly
waive their respective right to a trial by jury. In the event that the warranty given hereunder contains a
provision for the submission of the dispute to arbitration, both parties hereto shall be so bound. This
paragraph shall survive delivery of the deed.
34. BANK ESCROWS
. Purchaser acknowledges that Purchaser has no right, title or interest in and to or privity
with the escrow, if any, held by the lending institution for Punch List items.
. Notwithstanding anything contained herein to the contrary, it is specifically understood and
agreed that the delivery by Seller and acceptance of the deed by Purchaser shall be deemed to be full
compliance by the Seller of all the terms of the Contract by it to be performed, and as a release by the
Purchaser of any and all terms of this Contract, of any and all rights, obligations, claims or causes of actions
against the Seller. Purchaser acknowledges that none of the provisions of this Contract survive delivery and
acceptance of the deed except for those which expressly state otherwise. No other promise, representation,
agreement or obligation on the part of the Seller, its agents, employees or representatives shall be binding or
survive the delivery and acceptance of the deed except if it is in writing signed by Seller and expressly states
that it survives delivery and acceptance of the deed.
36. PURCHASER’S DEFAULT
. In the event of a default on the part of Purchaser under the terms, conditions
and/or provisions of this Contract, this Contract shall be deemed to be cancelled and terminated without any
further act on the part of the Seller to be performed, and the Purchaser agrees that all amounts paid on
account of this Contract to Seller shall be retained by Seller as liquidated damages. This paragraph shall
survive delivery of the deed.
37. PARTIES BOUND
. The terms, provisions and conditions of this Contract shall be binding upon the parties
hereto and their re spective heirs, assigns, executors, administrator s and successors.
38. ENTIRE AGREEMENT
. The parties hereto acknowledge that this Contract incorporates all prior
understandings, agreements and representations made one to the other or by their respective agents,
servants or employees, whether orally or in writing.