Pearson Farms Ph 1B

What Pearson Farms Ph 1B's governing documents say

Pearson Farms Ph 1B Addn is a single-family-home subdivision in Frisco, TX, governed by a homeowners association (not shown here). This document is a builder-imposed restrictive covenant that runs with the land, binding current and future owners to mandatory dispute resolution and warranty limitations with the original builder. It is not the full community rulebook; it only covers construction-related disputes and warranties.

• Mandatory mediation & binding arbitration: Any dispute between owner and builder regarding the property or construction must first go to mediation. If not resolved, it goes to binding arbitration under the Federal Arbitration Act, not court. The owner's upfront arbitration costs are capped at what court filing would cost.
• Warranty limitations: The only warranties are those required by the Texas Residential Construction Commission (TRCC) and any express third-party limited warranty. All other implied warranties (e.g., good workmanship) are waived. The owner accepts the property 'as is' and releases the builder from all claims except those arising under those limited warranties.
• Builder's repurchase right: If the cost to repair a builder-responsible construction defect exceeds 20% of the improvements' fair market value (without the defect), the builder may elect to repurchase the property. This right is binding on future owners.
• What this document doesn't cover: This document does not address community rules such as pet limits, parking, landscaping, architectural review, leasing restrictions, or association assessments. Those would be in the separate HOA declaration and bylaws, which are not included here.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.