SOLE AND EXCLUSIVE WARRANTY AND REMEDY. Owner's sole and exclusive remedy in the event of any breach of the Limited Warranty under Section 1 above shall be at Contractor's sole option, either a (1) repair or replacement of any covered item determined to be defective by Contractor, or (b) purchase of the Building by Contractor for the amounts paid by Owner to Contractor and conveyance by Owner of the Building to Contractor. Builder will, within a reasonable time after receiving written notice from Owner, examine the alleged defect to determine if it is covered under this Limited Warranty. In the event Builder determines that the defect is covered under this Limited Warranty, Builder may, in Builder=s sole discretion, repair or replace the defect with the same or reasonably similar item, at no charge to Owner. Such repair or replacement will take place within 30 days, unless delayed by weather conditions, labor problems or material shortages. The work will be performed by Contractor, or subcontractors selected by Contractor. Builder reserves the right to charge the Owner a reasonable amount per service call for any complaint not covered under this Limited Warranty. Any repair or replacement by Contractor shall not extend the term of this Limited Warranty. Builder's total liability under this Warranty is limited and in no event will any such liability exceed the purchase price paid by Owner to Contractor for the Building.
Appears in 11 contracts
Samples: Administrative Services Addendum of Additional Terms, Administrative Services Addendum, Administrative Services Addendum of Additional Terms
