Page 1 of 7 D218111827 5/24/2018 10:04AM PGS7 Fee: $40.00 Submitter: CSC ERECORDING SOLUTIONS Electronically Recorded by Tarrant County Clerk in Official Public Records I ff ut - Mary Louise Garci “bey Bun0t Sor cee, Mary Louise Garcia RESTRICTIVE COVENANT AND AGREEMENT (Conventional or FHA/VA Contract of Sale) STEWART/CC/224/ 01128; on : | Cloper 0” / Stewart ‘ Simon D. Banini and Genevieve H Banini 5932 Cambridge Drive North Richland Hills, TX 76180 (and Speight Construction, Ltd.d/b/a Sandlin Homes of 5137 Davis Blvd., North Richland Hills, TX 76180 (“Builder”).
RECITALS: WHEREAS, Owner is the current.owner of the following described property situated at 5932 Cambridge Drive North Richland Hills, TX 76180 (the “Property”), and more particu follows: LEGAL DESCRIPTION: Lot 20, in Block 1, of Cambridge Place, an addition to the City of Texas, according -to the Map or Plat thereof recorded_in/under Cle Records, Tarrant County, Texas. WD -WHEREAS, Owner purchased the Property and Improveghen{s (hereinterdefine WHEREAS, Owner acknowledges that B Improvements; and WHEREAS, to the fullest extenjermi icable law, Owner desires to and does hereby waive and release any implied warranties given byrfoxp ilder relating to the construction of all-improvements in j j ited to any implied warranty of good and workmanlike ¢ SHAEL RUN WITH THE LAND.
NOW, THEREFORE, n De sufficiency of which is hereby ae viédged, the undersigned hereby acknowledge, agree, and stipulate the Owner on“the-Property or in the subdivision in which the Property is located, shall first be submitted to mediation and, if not settled during mediation, shall-thereafter be submitted to binding arbitration as
the-Property or in the subdivision in which the Property is located, shall first be submitted to mediation and, if not settled during mediation, shall-thereafter be submitted to binding arbitration as provided by the Federal Arbitration Act (9 U.S.C. §§ 1 et seq.) or, if applicable, by similar state statute, and not by or in a court of law. All decisions respecting the arbitrability of any Dispute shall be decided by the arbitrator. In no event shall Owner be initially required to pay arbitration costs and fees in excess of those that would have been incurred in filing suit in a court of law and effecting service of process.
Notwithstanding anything herein to the contrary, BUYER AND SELLER WAIVE THE REMEDIES OF A) RESTRICTIVE COVENANT AND AGREEMENT (Conv: January 2017 PAGE 1 of 7 Page 2 of 7 SPECIFIC PERFORMANCE AND RESCISSION AND THE RIGHT TO RECOVER PROFESSIONAL FEES, INCLUDING, BUT NOT LIMITED TO, ATTORNEYS FEES, ENGINEERING FEES, AND EXPERT AND CONSULTING WITNESS FEES FOR ANY CAUSE OF ACTION IN ANY WAY ARISING OUT OF THIS WARRANTY OR THE CONSTRUCTION OF THE IMPROVEMENTS. The mediation and, if necessary, the arbitration shall be conducted pursuant to the procedures set forth in the applicable warranty documents. If there is any conflict between this Agreement and such procedures, the provisions of this Agreement shall control Furthermore, if the mediator and/or arbitrator designated in any applicable warranty documents cannot conduct the mediation or arbitration for any reason, or if no mediator and/or
ocuments cannot conduct the mediation or arbitration for any reason, or if no mediator and/or Disputes are not resolved by mediation, an arbitrator in the county where the subject property is Ig the extent practicable). If the parties are unable to agree on the appointment of a mediator and/or‘s then the mediation or arbitration, or both shall be-conducted by the American Arbitratj6n_A’ss (“AAA”) in accordance with its applicable rules and procedures provided, however, if theme tre) S con between this Agreement and such rules or procedures, the provisions of this Agreement sha any reason, the AAA is unable or unwilling to conduct the mediation_or the binding“aTbY ‘either party -may petition a-eourt of general jurisdiction in the subject county t ¢ j arbitrator, or both. It is stipulated and agreed that the filing of a petité mediator or arbitrator shalinot constitute a waiver of the right to enfor In any arbitration proceeding between the parties: a. All applicable Federal and State !aw (includipg Chapte shall-apply; +. All applicable claims, causes of action, remedig court shall apply; c: The proceeding shall be conducted by a g ensure the neutrality of the arbitr.
4, The parties shall be entitied to con e. The arbitrator shall render a wri award; f. The Owner shall not and the arbitrator sé manner in the arhif = hivér or invalidity of any portion of this Agreement shall not affect the validity or aaining portions of this Agreement. Owner and Builder further agree (1) that any D ér’s directors, officers, employees and agents shall be resolved as set forth herein and aw; and (2) that Builder shall have the-eption to include its subcontractors and suppliers. as
e (1) that any D ér’s directors, officers, employees and agents shall be resolved as set forth herein and aw; and (2) that Builder shall have the-eption to include its subcontractors and suppliers. as parties it\the Med#ation and/or arbitration.
If Owner or Builder file a proceeding in any court to resolve any such controversy, dispute or claim, such action shall not.constitute a waiver of the right of such party or a bar to the right of any other party to seek arbitration ef that or any other claim, dispute or controversy, and the court shall, upon motion of any party to the proceeding, direct that such controversy, dispute or claim be arbitrated in accordance herewith.
Initialed for identification by Buyer eb& Buyer 1 and Seller RESTRICTIVE COVENANT AND AGREEMENT — (Conw/FHA/VA) January 2017 PAGE 2 of 7 Page 3 of 7 The requirement that the parties submit any disputes between them to mediation and, if that does not resolve the dispute, binding arbitration is absolute and enforceable despite there being no signature by either party on this page of the Agreement. The parties, by their signatures at the end of this Agreement, agree to arbitration as if their signatures appeared on the page where arbitration is made part of the agreement.
2. WAIVER OF TRIAL BY JURY: IN THE EVENT THAT IT IS DETERMINED THAT THE ARBITRATION EROCEDURES OF THE FOREGOING ALTERNATIVE DISPUTE aR ALL DISPUTES BETWEEN THEM SHALL BE RESOLVED BY A COURT OF COMP JURISDICTION IN THE COUNTY WHERE THE PROPERTY IS LOCATED WITHOUT THE MS EITHER PARTY; (2) THE DEFAULF OF THIS AGREEMENT BY EITHER PARK CLOSING AND DELIVERY OF DEED.
LIABILITY ACT (“RCLA”) APPLIES TO CONSTRUCTION DEFECT A 8 OR CLAIMS REGARDING CONSTRUCTION DEFECTS IN CONNECTION WITH THE ENTS. OWNER AND
OF THIS AGREEMENT BY EITHER PARK CLOSING AND DELIVERY OF DEED.
LIABILITY ACT (“RCLA”) APPLIES TO CONSTRUCTION DEFECT A 8 OR CLAIMS REGARDING CONSTRUCTION DEFECTS IN CONNECTION WITH THE ENTS. OWNER AND BUILDER UNDERSTAND THAT THE RCLA CONTAINS PROVISIONG§ TQ EDITE THE RESOLUTION OF CLAIMS. OWNER AND BUILDER ALSO ACKNOWLERGE A FHAT A REQUEST FOR WARRANTY PERFORMANCE SHALL NOT BE CONSTRUER ASA NOTI ONSTRUCTION DEFECT UNDER THE RCLA, AND THAT ANY NOTICE UNDER A ake BE SEPARATEDY SENT TO BUILDER IN THE MANNER REQUIRED BY THE RCLA. QWNER THE RCLA-CONTROLS TO THE EXTENT OF LAW, INCLUDING THE DECEPTIVE SUBCHAPTER E, CHAPTER 17, TEXAS BUSINES& & BY THE RCLA AND THE DTPA.
4. OWNER, BY¥ SIGNING NT, ACKNOWLEDGES THAT HE/SHE/THEY HAS/HAVE REVIEWED AND UNDBRSTANI VISIONS CONTAINED HEREIN.
apd stipulates that EXCEPT AS SPECIFICALLY SET FORTH a‘ ANTY OR WARRANTIES GIVEN BY BUILDER TO OWNER RELATING TO THE PROPERT WPROVEMENTS ARE DESCRIBED EN THE EXPRESS- WARRANTY PROVIDED THROUGH SJR E COPY OF WHICH HAS R [DED FO OWNER BY BUILDER AND OWNER HEREBY EXPRESSLY RERNOWLEDGES. R AME. OWNER AGREES AND UNDERSTANDS THAT, PURSUANT TO R AND BUILDER, AND TO THE FULLEST EXTENT PERMITTED TY OF GOOD AND WORKMANLIKE CONSTRUCTION AND ANY 6. During the first five (5) years of this agreement, should Owner discover one or more defects in the construction of the Improvements and the reasonable cost to repair such construction defect(s) in or related to the Improvements that are the responsibility of Builder exceeds 30% of the then current fair market value of the Improvements, as determined without reference to the construction defect(s), Builder may elect to repurchase the Property in accordance with Section 27.0042 the Texas Property Code. If the Builder elects this option, the Owner
d without reference to the construction defect(s), Builder may elect to repurchase the Property in accordance with Section 27.0042 the Texas Property Code. If the Builder elects this option, the Owner Initialed for identification by Buy SDB per attte and Seller RESTRICTIVE COVENANT AND AGREEMENT (Conv, January 2017 PAGE 3 of 7 Page 4 of 7 shall be reimbursed the total contract price and all closing costs incurred by Owner, plus reimbursement of the cost of any permanent improvements made by the Owner to the Improvements and the Property, reasonable moving expenses to vacate the Improvements, and reasonable and necessary attorney’s fees and inspection costs incurred by Owner to discover, identify and present the construction defect(s) to the Builder. In return, Owner will deliver a Special Warranty Deed conveying the Property and Improvements to Builder, free and clear of all liens and claims and: deliver possession of the Improvements and: Property to Builder free of any casualty or damage caused by Owner, normal wear and tear excepted. This right of election shall survive the completion of the Contract between Owner and Builder and the delivery of the deed tothe Property from Builder to Owner, and shall be binding Owner’s successors and assigns.
“Manufactured Products” incorporated into the Improvements. As used herein, the term “Manufa has the definition set forth in StrucSure Home. Warranty. Owner hereby agrees, acknowledge and Improvements are free of harmful moids and other undesirable organisms; however, even utilizing magdek erals , techniques and designs, Owner can take positive steps procedures are not implemented. Such maintenance is-a responsi : eby minimize any possible adverse effects to reduce-or eliminate the occurrence of mold grewth in the home,
ner can take positive steps procedures are not implemented. Such maintenance is-a responsi : eby minimize any possible adverse effects to reduce-or eliminate the occurrence of mold grewth in the home, fhat may be caused by mold. These steps include the following: ® a. Befere bringing items into the hoi of mold. Potted -plants (roots and soil), furnishings, or stored clothing and bedd g 2 ] as many other household goods, could _already contain mold growth. -Once-mgla is brought into the home, its spores can spread to other areas of the home.
c Keep-the humidy e low. Ventilate kitchens and bathrooms by opening the windows, using exhaust far the air conditioning to remove excess moisture in the air. Promptly clean up materials ondensation, and other sources of moisture. Promptly replace any e thoroughly dried, such as drywall or insulation.
m a regular basis. Look for discolorations or wet spots. Repair any leaks buld’mold develop, thoroughly clean the affected area with a mild solution of bleach. First, test gee if the affected material or surface is color safe. Porous materials, such as fabric, upholstery, carpet should be discarded. Should the mold growth be severe, call on the services of a qualified professional.
f Electronic air filters that may assist in effective air filtration and dehumidifiers to maintain humidity levels are available at additional cost from numerous vendors.
Initialed for identification by Boys GDB Buyer and Seller RESTRICTIVE COVENANT AND AGREEMENT (Conv/FHA/VA January 2017 PAGE 4 of 7 Page 5 of 7 Whether or not a home experiences mold growth depends largely on how it is maintained. The Builder has not made, created or extended (nor does it intend to make, create or extend) any warranty or any other expectancy, either
periences mold growth depends largely on how it is maintained. The Builder has not made, created or extended (nor does it intend to make, create or extend) any warranty or any other expectancy, either express or implied, in regard to any mold or other biological impurities.
§. Owner shall secure and-maintain insurance covering risk of less and damage to the Improvements. The parties hereby agree to waive all subrogation rights that each may have against the other for such insured losses or damage to the Snigietenints, its contents, or the Property, including any such loss or Se arising fro the liability, breach of contract, breach of warranty or violations of the Texas Deceptive Trade Prg Protection Act.
changes after conveyance of the Property from Builder to Owner in grade or Soi+t an Stas therefrom shall be Owner’ s sole responsibility and Owner a repy el eagess Builder, its agents and 11. Owner and Builder agree that this Agreement shall { records of the County in which the Property is located.
im accordance with the contract between Owner apd At any discrepancies or differences have been approved and accepted by Owner and (ii) Qwner fhasw¢cgpted tte Property and Improvements and hereby releases 14. Owner and Builder fgtedya and stipulate that, except as otherwise provided herein, this Agreement shall be binding upon 3 Sto the-benefit of the parties hereto and their respective heirs, executors, officers, directors, shareholders [SIGNATURE PAGE TO FOLLOW] Initialed for identification by Buyer SbS Buyer ‘and Seller RESTRICTIVE COVENANT AND AGREEMENT (Conv/FHA/VA) January 2017 PAGE 5 of 7 Page 6 of 7 Va. o 3 Banini Owner Genevieve H Banini Address: 5932 Cambridge Drive North Richland Hills, TX 76180 Its: authorized rep Address: 5137 Davis Blvy@
NT (Conv/FHA/VA) January 2017 PAGE 5 of 7 Page 6 of 7 Va. o 3 Banini Owner Genevieve H Banini Address: 5932 Cambridge Drive North Richland Hills, TX 76180 Its: authorized rep Address: 5137 Davis Blvy@ RESTRICTIVE COVENANT AND AGREEMENT (Conv ‘A) January 2017 PAGE 6 of 7 Page 7 of 7 STATE OF TEXAS COUNTY OF Tarrant § § This instrument was acknowledged before me on the Simon D. Banini ....................
LOTARY Personalized Notary Seal STATE OF TEXAS PUB AS STATE OF TE ..................
COUNTY OF Tarrant KAMLA KAY LEE Notary Public, State of Texas Comm. Expires 12-22-2018 Notary ID 01123739-7 This instrument was § 88888 18 day of Mas 2018_by (Owner).
Notary Public, State Texas Copy 2018 by acknowledged before me on the Gereviene Bani (Owner).
Personalized Notary Seal THE STATE OF TEXAS COUNTY OF TARRANT KAMLA KAY LEE ................
OTARY PUBLA Notary Public, State of Texas STATE OR Comm. Expires 12-22-2018 Notary ID 01123739-7 Notary Public, State of Dexas This instrument was acknowledged before me on the by MATH Speigh Ficat d/b/a Sandlin Homes, on behalf of said entity 17 day of May.
Janwhite 2018 Notary Public, State of Texas NOTARY PUBL JAN WHITE Personalized Notary Seal) ATE OF TЕXАЗ Notary Public, State of Texas Notary ID # 408339-7 My Commission Expires September 2, 2021 AFTER RECORDING, RETURN TO: Sandlin Homes 5137 Davis Blvd.
North Richland Hills, TX 76180 Initialed for identification by Buyer SAB RESTRICTIVE COVENANT AND AGREEMENT January 2017 Buyer H and Seller (Conv/FHA/VA) PAGE 7 of 7