Third Party Warranties/Liquidated Damages. (a) Subject to the last sentence of this Section 1(a) of Article I, the Owners acknowledge and agree that all Third Party Warranties shall, to the extent separately enforceable by a particular Owner with respect to improvements within its Lot, belong to such Owner and shall be enforceable by that Owner. To the extent that a particular Third Party Warranty pertains to improvements in more than one Lot, and cannot be separately assigned, the Owner possessing rights to enforce such Third Party Warranty (the "THIRD PARTY WARRANTY OWNER") shall take such steps as any other Owner whose property is benefited by such Third Party Warranty (a "REQUESTING WARRANTY OWNER") from time to time reasonably may request in order to permit the Requesting Warranty Owner to receive the benefits thereof, so long as the Requesting Warranty Owner reimburses the Third Party Warranty Owner for all reasonable costs associated therewith (to the extent fairly allocable to the requests made by the Requesting Warranty Owner) and otherwise takes steps reasonably requested by the Third Party Warranty Owner to assure that the Third Party Warranty Owner shall not be exposed to unreimbursed liability as a consequence of taking the steps requested by the Requesting Warranty Owner. In all events, all Liquidated Damages received or collected pursuant to or as a result of the Construction Litigation or any arbitration, litigation, settlement or judgment related thereto or in connection therewith shall be paid to, retained by and are for the benefit of H/C I Owner only, and H/C I Owner shall be deemed the Requesting Warranty Owner for all third Party Warranties that are a part of or are asserted in the Construction Litigation and any related litigation or arbitration.
