New Home Warranty
I. Introduction
This New Home Warranty ("Warranty") is issued by [YOUR NAME] to the Homeowner, Jonathan Smith, for the property located at 116 Main Avenue, Melrose, North Carolina. This Warranty provides coverage for specific structural defects as defined below, ensuring the protection and peace of mind of the Homeowner.
II. Warranty Coverage
A. Structural Defects
This Warranty covers the repair or replacement of structural defects that may arise within the warranty period. Structural defects refer to any significant issues that affect the integrity and safety of the home's foundation, roof, or other major structural components.
B.Covered Structural Elements Include:
Foundation: Coverage for cracks, sinking, or other defects compromising the foundation’s stability.
Roof: Coverage for leaks, structural failures, or other significant defects in the roofing system.
Load-Bearing Walls and Beams: Coverage for defects affecting the structural integrity of load-bearing walls, beams, or other critical components of the home’s framework.
Floor Systems: Coverage for issues related to the stability and integrity of floor systems, including significant sagging or separation.
III. Exclusions
This Warranty does not cover:
Cosmetic damage, such as minor cracks in drywall or stucco.
Damage resulting from natural disasters, such as earthquakes or floods, unless otherwise specified.
Damage caused by improper maintenance, neglect, or alterations made by the Homeowner after the date of purchase.
Normal wear and tear.
IV. Warranty Claims
To file a claim under this Warranty, the Homeowner must notify [YOUR NAME] in writing at the address provided above. The notice must include a description of the defect and any relevant supporting documentation. All claims must be submitted within the warranty period.
Upon receipt of the claim, [YOUR NAME] will conduct an inspection of the defect and determine whether the issue is covered under this Warranty. If the defect is covered, [YOUR NAME] will arrange for the necessary repairs or replacements to be completed promptly and at no cost to the Homeowner.
V. Limitations of Liability
This Warranty represents the exclusive remedy for structural defects and does not cover any other liability or obligation. [YOUR NAME] shall not be held liable for any incidental or consequential damages arising from or related to any defects covered by this Warranty.
VI. Transferability
This Warranty is transferable to subsequent owners of the property within the warranty period. Any transfer of this Warranty must be completed in writing and approved by [YOUR NAME].
VII. Governing Law
This Warranty shall be governed by and construed in accordance with the laws of the state of North Carolina, without regard to its conflict of law principles.
Acknowledgment
By signing below, the Homeowner acknowledges receipt of this Warranty and agrees to the terms and conditions set forth herein.
Jonathan Smith
Homeowner
September 18, 2050
[YOUR NAME]
Home Builder
September 18, 2050
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