LIMITATION OF LIABILITY AND LIQUIDATED DAMAGES Sample Clauses

LIMITATION OF LIABILITY AND LIQUIDATED DAMAGES. YOU, THE CUSTOMER ACKNOWLEDGES THAT NEITHER S.T.A. NOR ANY THIRD PARTY DESIGNATED BY S.T.A.WHICH PROVIDES SERVICE TO YOU IS AN INSURER, THAT INSURANCE, IF ANY, WILL BE OBTAINED BY YOU AND THAT THE AMOUNTS PAYABLE TO S.T.A. UNDER THIS AGREEMENT ARE BASED UPON THE VALUE OF THE SERVICES AND THE SCOPE OF LIABILITY AS HEREIN SET FORTH AND ARE UNRELATED TO THE VALUE OF YOUR PROPERTY OR THE PROPERTY OF OTHERS LOCATED IN YOUR PREMISES. THE PARTIES AGREE THAT IT IS IMPRACTICAL AND EXTREMELY DIFFICULT TO FIX THE ACTUAL DAMAGES THAT MAY PROXIMATELY RESULT FROM THE FAILURE ON THE PART OF S.T.A. TO PERFORM ANY OF OUR OBLIGATIONS AND CUSTOMER AGREES THAT THEY DO NOT DESIRE THAT THIS AGREEMENT PROVIDE FOR THE FULL LIABILITY OF S.T.A. OR ANY SUCH THIRD PARTY AND FURTHER AGREE THAT S.T.A. AND ANY SUCH THIRD PARTY WILL BE EXEMPT FROM LIABILITY FOR LOSS OR DAMAGE DUE DIRECTLY OR INDIRECTLY TO OCCURRENCES, OR CONSEQUENCES THEREFROM, WHICH THE SERVICE IS DESIGNED TO DETECT OR AVERT; AND THAT IF S.T.A. OR ANY SUCH THIRD PARTY SHOULD BE FOUND LIABLE FOR LOSS OR DAMAGE DUE TO A FAILURE OF SERVICE IN ANY RESPECT, ITS LIABILITY WILL BE LIMITED TO A SUM EQUAL TO 15% OF THE ANNUAL SERVICE CHARGE OR $250, WHICHEVER IS GREATER, AS THE AGREED UPON DAMAGES AND NOT AS A PENALTY, AS THE EXCLUSIVE REMEDY AND THAT THE PROVISIONS OF THIS PARAGRAPH WILL APPLY IF LOSS OR DAMAGE, IRRESPECTIVE OF CAUSE OR ORIGIN, RESULTS DIRECTLY OR INDIRECTLY TO PERSON OR PROPERTY FROM PERFORMANCE OR NON-PERFORMANCE OF OBLIGATIONS IMPOSED BY THIS AGREEMENT OR FROM NEGLIGENCE OF ANY DEGREE, ACTIVE OR OTHERWISE OF S.T.A. AND ANY SUCH THIRD PARTY AND THEIR AGENTS OR EMPLOYEES AND NO SUIT OR ACTION WILL BE BROUGHT AGAINST S.T.A. MORE THAN ONE (1) YEAR AFTER THE ACCRUAL OF THE CAUSE OF ACTION THEREFOR.

LIMITATION OF LIABILITY AND LIQUIDATED DAMAGES. The Client agrees that Inspector’s liability for errors and/or omissions or for negligent performance or non-performance of its obligations under this Agreement shall be limited to a full refund of the fee paid for the inspection, as stated in Section 1 above. The Client agrees to assume all risk of loss which exceeds the fee paid for the visual inspection and the report. The Client agrees to hold Inspector, its officers, agents and employees harmless from and against any and all liabilities, demands, claims, suits, losses, damages, causes of action, fines or judgments, including costs, attorneys’ fees and expenses incident thereto for injuries to persons and for loss of, damage to, or destruction of property arising out of or in connection with this Agreement, unless caused by gross negligence or willful misconduct of Inspector, its officers, agents or employees.

LIMITATION OF LIABILITY AND LIQUIDATED DAMAGES. INSPECTOR assumes no liability for the cost of repair or replacement of unreported defects or deficiencies either current or arising in the future. CLIENT acknowledges that the liability of INSPECTOR, its agents and/or employees, for claims or damages, costs of defense or suit, attorney’s fees and expenses arising out of or related to the INSPECTOR’S negligence or breach of any obligation under this Agreement, including errors and omissions in the inspection or the report, shall be limited to liquidated damages in an amount equal to the fee paid to the INSPECTOR, and this liability shall be exclusive. CLIENT waives any claim for consequential, exemplary, special or incidental damages or for the loss of the use of the home/building even if the CLIENT has been advised of the possibility of such damages. The parties acknowledge that the liquidated damages are not intended as a penalty but are intended (i) to reflect the fact that actual damages may be difficult and impractical to ascertain; (ii) to allocate risk among the INSPECTOR and CLIENT; and (iii) to enable the INSPECTOR to perform the inspection at the stated fee.

LIMITATION OF LIABILITY AND LIQUIDATED DAMAGES