(A) All sales contracts for the first time sale of any condominium unit covered under this chapter shall contain the following express warranties by the developer:
1. Common Elements And Systems: "Common elements and systems" shall refer to the roof, foundation, external and supporting walls and other structural elements, the electrical, plumbing, heating, air conditioning and other mechanical systems, and all other common facilities, including, but not limited to, private sidewalks, recreational areas and common open space (but excluding decorating and carpeting). The developer shall warrant the materials, workmanship, operation, construction, or condition of all such items or elements for two (2) years from the day of transfer of title of the first unit so transferred. The developer shall provide his own warranty, whether or not any manufacturer's warranty currently exists.
2. Individual Unit Mechanical Equipment: "Individual unit mechanical equipment" shall refer to all appliances, and other mechanical equipment, including heating, electrical and plumbing systems physically located within the individually owned units. The developer shall warrant the materials, workmanship, operation, construction, and condition of said items for two (2) years from the date of title transfer of that individual unit.
3. Warranty Exclusions: The following are exempt from all of the above warranties, provided the work was done in accordance with existing applicable codes:
(a) Damage caused by acts of unauthorized third parties, including vandalism, negligence, improper maintenance, or improper operation by anyone other than the developer or his employees, agents, or subcontractors;
(b) Acts of God and accidents, including, but not limited to, fire, explosion, smoke, water escape, windstorm, hail, lightning, flood and earthquake;
(c) Normal wear and tear and normal deterioration;
(d) Ordinary maintenance and repairs.
(B) The developer shall have the option to repair or replace warranted systems or elements, or to pay the cash value of such repair or replacement, except that where the developer fails upon notice and reasonable time as set forth below, to repair, replace, or pay for said item or system, or to state in writing why they do not fall within the warranty, the association, or the unit owners, may decide whether to repair or replace the items. The developer shall not be required to honor his/her own warranty unless or until the unit owner or association, as the case may be, shall have first sought to enforce existing manufacturer's warranties.
(C) Following timely notification during the period of the warranty by a unit owner or the association, the developer shall, within thirty (30) days of receiving notice, make any required repairs or replacements. If the developer fails to comply with the warranty provisions, the association may notify the developer in writing of its intention to correct the condition at the developer's expense. If the developer fails to comply within fourteen (14) days after being notified by the association, or as promptly as conditions require in case of emergency, the association may have the work done and shall have recourse to the escrow or other security provided pursuant to subsection (E) of this section.
(D) In order to cause said warranty to be honored, the unit owners' association or the unit owner, as the case may be, shall give timely notice of any defect or failure of operation to the developer or his successor, all such notices to be during the period of warranty.
(E) To assure compliance with the warranties set forth in this section, the developer shall set up escrows or other appropriate security acceptable to the village pursuant to regulations promulgated under this chapter, which shall provide for said escrows or other security to revert to sole control of the developer at the expiration of the different warranty periods, unless outstanding claims exist against them. Escrows or other appropriate security shall be in an amount constituting the total of one percent (1%) of the sales price of each unit sold. (Ord. 2532, 8-15-2005)