Common use of Third Party Requirements Clause in Contracts

Third Party Requirements. (a) Except as expressly set forth within the Agreement or Contract Documents, the Parties have not discussed or agreed that Contractor will be performing any work, or providing any warranty or guaranty, required by (i) Buyer’s lender or lender’s inspector; (ii) the United States Department of Housing and Urban Development (“HUD”), Department of Veterans Affairs (“VA”), or the Federal Housing Administration (“FHA”) because Buyer’s loan/mortgage will be insured, backed, or guaranteed by such governmental entity; and/or (iii) any other third-party inspector, that goes beyond the scope of Contractor’s work as set forth in the Contract Documents or otherwise beyond the applicable standard of care (collectively, “Lender/HUD/VA/Inspector-Required Work”), including but not limited to, performing or providing any termite-related work or warranty, or other items of work required by a third party that go beyond the terms of the Contract Documents or the standard of care. (b) If Buyer desires for Contractor to provide or perform Lender/HUD/VA/Inspector-Required Work, or ▇▇▇▇▇’s loan/mortgage will be obtained through or insured, backed, or guaranteed by HUD, the VA, or the FHA, then Buyer is obligated to discuss as such with Contractor prior to the execution of the Agreement, including to discuss if Contractor is able and willing to provide or perform any Lender/HUD/VA/Inspector-Required Work and any associated increase in the Contract Price. (c) Accordingly, Contractor has no obligation to provide or perform any Lender/HUD/VA/Inspector-Required Work unless it is expressly set forth in the Agreement or the Contract Documents.