Common use of Builder Information Clause in Contracts

Builder Information. Owner acknowledges and agrees that, unless specifically waived in writing by a majority of the ACC and the Board, the third-party who will cause improvements to be constructed on the Property (a “Builder”) must submit an executed builder agreement (the “Builder Agreement”) to the Association. A copy of the current Builder Agreement is attached hereto as Exhibit “A”. The Builder Agreement obligates the Builder to comply with the Restrictions, the Approval and Construction Requirements (as applicable), and provides for a monetary deposit. The monetary deposit is required to discharge expenses that may be incurred by the Association if the Builder fails to comply with the Restrictions and the Approval and Construction Requirements. Approval of proposed improvements does not constitute approval of the Builder the Owner has selected to construct the improvements. Neither the ACC, the Association, nor any of their Board members, officers, committee members, employees, or agents warrant or otherwise attest to the experience or reputation of a Builder or any subcontractor utilized by a Builder. If a dispute arises between the Owner and a Builder, it is the Owner’s sole responsibility to resolve such dispute. In the event of any such dispute, the Owner acknowledges and agrees that all the Restrictions and the Approval and Construction Requirements will continue in full force and effect and may in no event be waived during the pendancy of such dispute unless specifically approved in writing by a majority of the ACC and the Board.