Page 1 of 7 D219000685 1/2/2019 2:21 PM PGS 7 Fee: $40.00 Submitter: CSC ERECORDING SOLUTIONS Electronically Recorded by Tarrant County Clerk in Official Public Records Man: : Vu hokar \ Mary Louise Nicholson RESTRICTIVE COVENANT AND AGREEMENT (Conventional or FHA/VA Contract of Sale) 01128-63481/STEWART/AS/224 H This Restrictive Covenant and Agreement (“Agreement”) is made thist0™ day of December, 2018, by Eagle Resources Ltd (Owner) and Scott Sandlin Homes, 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 at6 Dr., North Richland Hills, TX 76180 (the “Property”), and more particularly described as follow: Hills, Tarrant County, Texas, according to the Map or Plat thereof recorded in/under Map/Plat Records, Tarrant County, Texas.
WHEREAS, Owner purchased the Property and Improvements (hg WHEREAS, the undersigned acknowledge that it is the policy Y peaceable resolution of disputes through alternative dispute reso] procedure WHEREAS, Owner acknowledges that Builder has_p Improvements; and the Property (the “Improvements”) including but construction and further stipulates that greq NOW, THEREFORE, for (Té&~Dollxsa Other good and valuable consideration, the receipt and sufficiency of which is hereby, edgéd, the undersigned hereby acknowledge, agree, and stipulate the following: 1. The parties sppet pe not settled during mediation, shall thereafter be submitted to binding arbitration as ederal Arbitration Act (9 U.S.C. §§ 1 et seq.) or, if applicable, by similar state statute, and arbitrator. In no event shall Owner be initially required to pay arbitration costs and fees in excess of those
Arbitration Act (9 U.S.C. §§ 1 et seq.) or, if applicable, by similar state statute, and 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 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 Initialed for identification by Buyer Buyer f and Seller OD RESTRICTIVE COVENANT AND AGI T (Conv, A) January 2017 PAGE J of 7 Page 2 of 7 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 arbitrator is designated, the parties agree to work together in good faith to select a mediator and, if all Disputes are not resolved by mediation, an arbitrator in the county where the subject property is located (to the extent practicable). If the parties are unable to agree on the appointment of a mediator and/or arbifyator, then the mediation or arbitration, or both shall be conducted by the American Arbitration Ass@ci3 (“AAA”) in accordance with its applicable rules and procedures provided, however, if there is
ifyator, then the mediation or arbitration, or both shall be conducted by the American Arbitration Ass@ci3 (“AAA”) in accordance with its applicable rules and procedures provided, however, if there is In any arbitration proceeding between the parties: a. All applicable Federal and State law (including Ch shall apply; b. All applicable claims, causes of action, remedies a court shall apply; c. The proceeding shall be conducted by a sing ensure the neutrality of the arbitrator; d. The parties shall be entitled to conduct reasa e. The arbitrator shall render a written gtya award; g. Any award rendere such award may bey h. If the proceeding > shall be final and binding and judgment upon any having jurisdiction; and a‘venstruction defect, as that term is defined in Chapter 27 of )01(4)), then the arbitration shall be conducted in the county set forth in this Agreem¢nit‘shai] s fe the closing of the sale of the Property and/or Improvements from Builder to Owner. The wa gr validity of any portion of this Agreement shall not affect the validity or be nd ning portions of this Agreement. Owner and Builder further agree (1) that any } that Builder shall have the option to include its subcontractors and suppliers as and/or arbitration.
ation of 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.
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
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.
Initialed for identification by Buy: Buyer and Seller HP RESTRICTIVE COVENANT AND-AGREEMENT (Conv/FHA/VA) / January 2017 PAGE 2 of 7 Page 3 of 7 2. WAIVER OF TRIAL BY JURY: IN THE EVENT THAT IT IS DETERMINED THAT THE ARBITRATION PROCEDURES OF THE FOREGOING ALTERNATIVE DISPUTE RESOLUTION AGREEMENT ARE NOT ENFORCEABLE, THE PARTIES STIPULATE AND AGREE THAT ANY AND ALL DISPUTES BETWEEN THEM SHALL BE RESOLVED BY A COURT OF COMPETENT JURISDICTION IN THE COUNTY WHERE THE PROPERTY IS LOCATED WITHOUT THE USE OF A JURY AND THE RIGHT TO A TRIAL BY JURY IS HEREBY EXPRESSLY WAIVED BY OWNER AND BUILDER. THE PARTIES FURTHER AGREE THAT THE RIGHTS AND OBLIGATIONS SET FORTH IN THIS PARAGRAPH SHALL SURVIVE (1) THE TERMINATION OF THIS AGREEME BY EITHER PARTY; (2) THE DEFAULT OF THIS AGREEMENT BY EITHER PARTY; ORG CLOSING AND DELIVERY OF DEED.
3. OWNER AND BUILDER ACKNOWLEDGE THAT THE RESIDENTIAL LIABILITY ACT (“RCLA”) APPLIES TO CONSTRUCTION DEFECTS AND ANY DISF REGARDING CONSTRUCTION DEFECTS IN CONNECTION WITH THE IMPROVE UNDER THE RCLA, AND THAT ANY NOTICE UNDER THE RCLA LAW, INCLUDING THE DECEPTIVE TRADE PRA S - RAAER PROTECTION ACT, SUBCHAPTER E, CHAPTER 17, TEXAS BUSINESS & CO) E CODE (the “DTPA”), AS PROVIDED BY THE RCLA AND THE DTPA.
4. OWNER, BY SIGNING THIS OWLEDGES THAT HE/SHE/THEY HAS/HAVE REVIEWED AND UNDERSTANDS T: CONTAINED HEREIN.
that EXCEPT AS SPECIFICALLY SET FORTH ARRANTIES GIVEN BY BUILDER TO OWNER {TS ARE DESCRIBED IN THE EXPRESS WARRANTY
HIS OWLEDGES THAT HE/SHE/THEY HAS/HAVE REVIEWED AND UNDERSTANDS T: CONTAINED HEREIN.
that EXCEPT AS SPECIFICALLY SET FORTH ARRANTIES GIVEN BY BUILDER TO OWNER {TS ARE DESCRIBED IN THE EXPRESS WARRANTY RANTY (THE “LIMITED WARRANTY”) A SPECIMAN 5. Owner hereby agrees, acknowledges an IN THIS AGREEMENT, THE ONLY Wa A RELATING TO THE PROPERTY ee up A PROVIDED THROUGH STRUCQURIFA Ox’ COPY OF WHICH HAS BEEN 4 R BY BUILDER AND OWNER HEREBY EXPRESSLY ACKNOWLEDGES RECEIPT @ R AGREES AND UNDERSTANDS THAT, PURSUANT TO THE AGREEMENT AN, TSR MD BUILDER, AND TO THE FULLEST EXTENT PERMITTED a OF GOOD AND WORKMANLIKE CONSTRUCTION AND ANY SUCH IMPLIED WARR S EXPRESSLY REPLACED BY THE TERMS OF THE LIMITED WARRANTY IN eae REFERENCE INTO THE CONTRACT BETWEEN OWNER AND BUILDER, O OWLEDGES THAT THE TERMS OF SUCH LIMITED WARRANTY ARE CLEAR, B . FICIENTLY DETAILED TO ESTABLISH THE ONLY STANDARDS OF CONSTRUS H BUILDER IS OBLIGATED TO MEET.
g the first five (5) years of this agreement, should Owner discover one or more defects in the ofthe’ Improvements and the reasonable cost to repair such construction defect(s) in or related to the Improveménis-thiat 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 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
mprovements 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 Initialed for identification by Buyer Buyer and Seller RA RESTRICTIVE COVENANT AND‘-AGREEMENT (Conv/FHA/VA) January 2017 PAGE 3 of 7 Page 4 of 7 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 to the Property from Builder to Owner, and shall be binding on Owner’s successors and assigns.
7. Builder hereby transfers to Owner all rights, interests and title to all express or implied warranties on “Manufactured Products” incorporated into the Improvements. As used herein, the term “Manufactured Products” has the definition set forth in StrucSure Home Warranty. Owner hereby agrees, acknowledges and stipulf Builder makes NO WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, CONCERY A MERCHANTABILITY, FITNESS OF USE FOR A PARTICULAR PURPOSE, A WARRANTIES TO THE FULLEST EXTENT PERMITTED BY STATE OR FEDERAL LAY to reduce or eliminate the occurrence of mold growth in the home, and there that may be caused by mold. These steps include the following: a. Before bringing items into the home, check ¢o furnishings, or stored clothing and bedding materic already contain mold growth. Once mold is,b using exhaust fans, ¢ clean up and materials that 0
ng: a. Before bringing items into the home, check ¢o furnishings, or stored clothing and bedding materic already contain mold growth. Once mold is,b using exhaust fans, ¢ clean up and materials that 0 Aditioning to remove excess moisture in the air. Promptly atron, and other sources of moisture. Promptly replace any ¥ dried, such as drywall or insulation.
ar basis. Look for discolorations or wet spots. Repair any leaks psation pans (refrigerators and air conditioners) for mold growth. Take ua {iiss professional.
ctronic air filters that may assist in effective air filtration and dehumidifiers to maintain idity levels are available at additional cost from numerous vendors.
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 express or implied, in regard to any mold or other biological impurities.
Initialed for identification by Buy RESTRICTIVE COVENANT January 2017 Buyer and Seller (Conv/FHA/VA) PAGE 4 of 7 Page 5 of 7 9. Owner shall secure and maintain insurance covering risk of loss 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 Improvements, its contents, or the Property, including any such loss or damage arising from the negligence or other fault of either party. If Owner receives any consideration from a third party, including, but not limited to, an assignee or subrogee, in settlement or payment for any dispute, Owner shall indemnify Builder for any claims asserted against Builder by such third party, regardless of any allegation of Builder’s negligence, strict
rogee, in settlement or payment for any dispute, Owner shall indemnify Builder for any claims asserted against Builder by such third party, regardless of any allegation of Builder’s negligence, strict liability, breach of contract, breach of warranty or violations of the Texas Deceptive Trade Practices-Consumer Protection Act.
approved and accepted by Owner and (ii) Owner has accepted-ttie y and Improvements and hereby releases Builder from all claims and liabilities relating to the Propgry aprayements except for Builder’s obligations 14. Owner and Builder agree, acknowle that, except as otherwise provided herein, this hg parties hereto and their respective heirs, executors, Agreement shall be binding upon and inure to fi officers, directors, shareholders, represe; es, ESS d assigns.
A PAGE TO FOLLOW] initialed for identification by Buyer Buyer . and Seller e RESTRICTIVE COVENANT AND A\ (Conv/FHA/VA) January 2017 : PAGE 5 of 7 Page 6 of 7 Eagle Resources Ltd, Robin R Goodall, Parmer Address: 6725 Cambridge Dr., North Richland Hills, 76180 STATE OF TEXAS § § COUNTY OF TARRANT § This instrument was acknowledged before me on the D ef, 2018 by Eagle Resources Ltd, Robin R Goodall, Parmer (Owner).
Personalized Notary Seal © YVONNE NISSEN Notary ID #128465445 My Commission Expires December 9, 2022 Initialed for identification by Buyer Buyer and Seller PD RESTRICTIVE COVENANT AND AGREEMENT (Conv/FHA/VA) January 2017 PAGE 6 of 7 Page 7 of 7 Address: 5137 Davis Bivd., North Richland Hills, TX 76180 THE STATE OF TEXAS § § COUNTY OF TARRANT § by. S Ce 4f Ca jo len , on behalf of said entity, Personalized Notary Seal ~ ‘ie aay ‘seoaenayet™ Scott Sandlin Homes, Ltd. d/b/a Sand 5137 Davis Blvd.
by. S Ce 4f Ca jo len , on behalf of said entity, Personalized Notary Seal ~ ‘ie aay ‘seoaenayet™ Scott Sandlin Homes, Ltd. d/b/a Sand 5137 Davis Blvd.
North Richland Hills, TX 76180 Initialed for identification by Buyer Buyer and Seller ex RESTRICTIVE COVENANT AND AGREEMENT (Conv/FHA/VA) January 2017 PAGE 7 of7 —