Pearson Farms Ph 1C

What Pearson Farms Ph 1C's governing documents say

This document is not a full set of community CC&Rs, but a series of individual Restrictive Covenant and Agreements between original homebuyers and builders (Sotherby Homes/Shaddock Homes) in the Pearson Farms Phase 1C Addition in Frisco, TX. These agreements primarily govern dispute resolution (mandatory mediation and arbitration), waive implied warranties, and specify limited express warranties — they bind the original owner and run with the land, but do not set community-wide rules for pets, leasing, architectural review, or common elements.

• What this document covers: These are individual, lot-specific agreements between the builder and the original owner. They require mediation and binding arbitration for any dispute related to the property or construction, and they waive all implied warranties (e.g., habitability) except for a limited express warranty from the Texas Residential Construction Commission and a third-party warranty company.
• Dispute resolution: Mandatory mediation and arbitration: Any dispute must first go to mediation; if unresolved, it goes to binding arbitration under the Federal Arbitration Act, not court. The owner cannot be initially required to pay more in arbitration costs than court filing fees. The arbitrator can award costs and fees to the prevailing party.
• Warranty waiver and limitation: The owner waives all implied warranties (including good and workmanlike construction) and accepts the property 'AS IS, WITH ALL FAULTS.' The only warranties are the TRCC Limited Statutory Warranty and an express third-party warranty, a copy of which was allegedly provided.
• Builder's repurchase option: If the cost to repair a construction defect exceeds 20% of the property's current fair market value (excluding the defect), the builder may elect to repurchase the property under Texas Property Code Section 27.0042. This right survives the closing and binds successors.
• Binding effect on future owners: The agreement explicitly states it 'SHALL RUN WITH THE LAND,' meaning subsequent purchasers are bound by the arbitration and warranty waiver terms. The owner must also deliver the limited warranty to any future buyer.

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.