Georgetown Village Ph IV

What Georgetown Village Ph IV's governing documents say

This is a restrictive covenant and agreement for a specific new home in Georgetown Village Phase IV — a construction contract/sale agreement between the owner and the builder (Stonehollow Homes), not a community-wide rulebook. It binds the original buyer and the builder, and its obligations run with the land, meaning they apply to future owners. It focuses on warranty waivers, dispute resolution, and mold liability rather than typical HOA rules like pets or leasing.

• Dispute resolution (mandatory mediation & arbitration): Any dispute between the owner and builder (contract, warranty, tort, etc.) must first go to mediation, then to binding arbitration under the Federal Arbitration Act. The owner is not required to initially pay arbitration costs and fees exceeding what court filing would cost.
• Warranty limitations: The owner waives all implied warranties (including good and workmanlike construction) to the extent allowed by Texas law. The only express warranty is the builder's written limited home warranty, which is incorporated by reference; the owner agrees to pass it on to any subsequent purchaser.
• Builder's repurchase option: If the reasonable cost to repair construction defects that are the builder's responsibility exceeds 20% of the then-current fair market value of the improvements (excluding the defects), the builder may elect to buy back the property under Texas Property Code Section 27.004.
• Manufacturer warranties assigned to owner: All manufacturer warranties on equipment and consumer products (air conditioners, heating units, water heaters, refrigerators, ranges, dishwashers, etc.) are assigned to the owner. The builder makes no warranties on such items and disclaims all implied warranties to the fullest extent permitted by law.
• Mold & biological impurities – disclaimer and release: The builder disclaims all liability for mold, mildew, fungus, spores, chemicals, or biological impurities, and the owner releases the builder from any related claims (including property damage, personal injury, and loss of value) in exchange for $50 and other consideration. The owner agrees to maintain the home to reduce mold risk.
• What this document doesn't cover: This is not a community association rulebook — it has no provisions about assessments, common areas, leasing restrictions, pet limits, age restrictions, architectural review, or other typical HOA governance. Those would be found in separate subdivision or HOA documents, if any exist.

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.