WARRANTY PROGRAM. The Vendor represents and warrants to the Purchaser that the Vendor is a registered vendor/builder with Tarion. The Vendor covenants that on completion of this transaction a warranty certificate for the Home will be requested by the Vendor from Tarion. This shall be the only warranty covering the Home. The Purchaser acknowledges and agrees that any warranties of workmanship or materials, in respect of any aspect of the construction of the Home, whether implied by this Agreement or at law or in equity or by any statute or otherwise, shall be limited to only those warranties deemed to be given by the Vendor under the Ontario New Home Warranties Plan Act, R.S.O. 1990, c.O.31 ("ONHWPA") and shall extend only for the time period and in respect of those items as stated in the ONHWPA, it being understood and agreed that there is no representation, warranty, guarantee, collateral agreement, or condition precedent to, concurrent with or in any way affecting this Agreement, the Condominium or the Home, other than as expressed herein. Notwithstanding the aforementioned limitation, the Vendor further warrants for a period of ten (10) years from the Closing Date, the Vendor shall supply all labour and/or materials to rectify any major structural defect to the Home as defined in the ONHWPA and the regulations thereto. The Purchaser further acknowledges and agrees that notwithstanding the fact that the deposits payable under this Agreement are paid to Springwater's and the Vendor's solicitor, the said solicitor shall have the right to release such deposits to the Vendor or to any other party provided that the Vendor obtains prescribed security under the Act. The Purchaser hereby irrevocably appoints the Vendor his/her agent to complete the Tarion Deposit Receipt and any excess condominium deposit insurance documentation in this regard, as required.
Appears in 1 contract
Sources: Agreement of Purchase and Sale
WARRANTY PROGRAM. The Vendor represents and warrants to the Purchaser that the Vendor is a registered vendor/builder with Tarion. The Vendor covenants that on completion of this transaction a warranty certificate for the Home will be requested by the Vendor from Tarion. This shall be the only warranty covering the Home. The Purchaser ▇▇▇▇▇ acknowledges and agrees that any warranties of workmanship or materials, in respect of any aspect ▇▇▇▇▇ has received and thoroughly reviewed a copy of the construction Seller's Limited Warranty Agreement attached hereto as Exhibit A and incorporated herein by this reference (the "Limited Warranty") that states the terms and provisions of the Home, whether implied warranty to be made and given by this Agreement or Seller to Buyer pursuant to Seller's warranty program and that are to be signed by Seller and Buyer at law or in equity or closing. ▇▇▇▇▇ agrees to sign the Limited Warranty at Closing as part of the documents required to be signed by any statute or otherwise, the Buyer at Closing. The Seller's Warranty shall be limited in lieu of all other warranties and Buyer shall not receive any other warranty of merchantability, habitability, suitability for habitation or fitness for a particular purpose, expressed or implied and the Buyer hereby waives and relinquishes all warranties relating to only those warranties deemed to be given by the Vendor under the Ontario New Home Warranties Plan ActProperty, R.S.O. 1990, c.O.31 ("ONHWPA") both expressed and shall extend only for the time period and in respect of those items as stated in the ONHWPA, it being understood and agreed that there is no representation, warranty, guarantee, collateral agreement, or condition precedent to, concurrent with or in any way affecting this Agreement, the Condominium or the Homeimplied, other than as expressed hereinthose specifically set forth in Seller's Warranty and Warranty Standards. Notwithstanding the aforementioned limitation, the Vendor further warrants for a period of ten (10) years from the Closing Date, the Vendor The Warranty herein shall supply all labour and/or materials to rectify not cover any major structural defect damages to the Home Condominium Unit as defined the result of ordinary wear and tear, natural disasters, changes in grade, elevations or structure caused by the ONHWPA Buyer or any negligent acts by Buyer or Buyer's agents or any imperfections beyond the Seller's control or that occur from natural and ordinary change in materials properly used in accordance with the regulations theretoterms of this Agreement. The Purchaser further acknowledges and agrees that notwithstanding the fact that the deposits payable under provisions of this Section 5 of this Agreement are paid to Springwater's shall survive the closing and the Vendor's solicitor, the said solicitor shall have the right to release such deposits to the Vendor or to any other party provided that the Vendor obtains prescribed security under the Act. The Purchaser hereby irrevocably appoints the Vendor his/her agent to complete the Tarion Deposit Receipt and any excess condominium deposit insurance documentation in this regard, as requiredconveyance of title without further reference thereto.
Appears in 1 contract
Sources: Purchase and Sale Agreement