Entitlement to Insurance Proceeds. If this Lease is terminated pursuant to the foregoing provisions of this Section 15.1 following an occurrence which is a peril actually insured or required to be insured against pursuant to Article 12, Landlord and Tenant agree (and any Lender shall be asked to agree) that such insurance proceeds, after repayment of the loan, shall be allocated between Landlord and Tenant in a manner which fairly and reasonably reflects their respective ownership rights under this Lease, as of the termination or expiration of the Term of this Lease, with respect to the improvements, fixtures, equipment and other items to which such insurance proceeds are attributable.
Entitlement to Insurance Proceeds. In the event WE repair, replace, or pay the cost of repairing or replacing any defect covered by this warranty for which YOU are covered by other insurance, YOU must, upon OUR request, assign the proceeds of such insurance or warranty to US to the extent of OUR cost of such repair or replacement. Effective two (2) years from Substantial Completion, as defined in the real estate purchase contract, YOU have waived the right to seek damages or other legal or equitable remedies from VISIONARY HOMES, trade partners, agents, vendors, suppliers, design professionals and materialmen, under any other common law or statutory theory of liability, including but not limited to negligence and strict liability. The rights and remedies contained in this warranty constitute the BUYER’s sole recourse against VISIONARY HOMES for costs and expenses to cure defects in the property. The agreement contained in this paragraph shall be enforceable to the maximum extent permitted by the law of the state in which the HOME is located and shall be applicable to any claim thereafter made against VISIONARY HOMES or any other person. YOUR only remedy in the event of a defect in or to YOUR HOME or to real property on which YOUR HOME is situated, is as provided to YOU under this express Warranty Agreement. This paragraph shall not be applicable to any express written warranty provided by a manufacturer or vendor who has supplied any appliance or component for the HOME. This warranty excludes any right to consequential damages, incidental expenses related to inconvenience or relocation during repairs. YOU are responsible to mitigate damages. By accepting the deed, YOU have agreed to the express Warranty Agreement provided in this warranty booklet. Any Claim by PURCHASER or SELLER against VISIONARY HOMES for judicial, arbitral, or administrative relief for acts, errors, omissions, or breach arising out of or related to the design or construction of the residence, design or construction of the common areas, improvements to the Property, the sale of the Property, or breach of the real estate purchase contract accompanying this Warranty Agreement, whether based in tort, contract, warranty, strict liability, indemnity, contribution, or other source of law (each
