Release Four
Home Up Release One Release Two Response to Two Release Three Release Four Response Letter Release Five Response to Five Lawyer's Response

e-mailed by Mr. Pete Thompson on 16 February 2002

Mr. xxxxxxx,

enclosed is a further revision to the release changing the title to "Agreement' as you requested and providing a space for a signature by Richmond American.

please follow up with Butch Gearheart in order to finalize this matter and arrange for the commencement of the work.

thanks,

Pete Thompson

NOTE: In addition to our objection to the concept of release, their previous three release drafts did not have them as signatories to the terms and conditions.

AGREEMENT

This agreement is made and entered into and between given by xxxxxxxxxxxxxxxxxxxxxxxx ("Xxxxxxxxxxxxxxxxxxxxxx") and Richmond American Homes of Virginia, Inc., ("Richmond American") and is intended to effect the settlement and release of any claims by Xxxxxxxxxxxxxxxxxxxxxx against Richmond American hereinafter set forth.

WITNESSETH

WHEREAS, Xxxxxxxxxxxxxxxxxxxxxx entered into a Purchase Agreement with Richmond American dated May 14, 2000 ("Purchase Agreement"). The Purchase Agreement provided for the construction and sale of a new home in Prince William County, Virginia, with a street address of ^^^^^^^^^^^^^^^^^^^^^ ("Home"). The Home was constructed by Richmond American and sold to Xxxxxxxxxxxxxxxxxxxxxx in accordance with the terms and conditions of the Purchase Agreement; and

WHEREAS, Xxxxxxxxxxxxxxxxxxxxxx have alleged that there are and or were certain breaches and/or defects associated with the Home, and specifically related to the flooring and coverings in the Home, and Xxxxxxxxxxxxxxxxxxxxxx have notified Richmond American and others of these claimed defects; and

WHEREAS, it is now the desire and express intention of Xxxxxxxxxxxxxxxxxxxxxx and Richmond American to resolve such claims, and Xxxxxxxxxxxxxxxxxxxxxx have agreed to execute this Release in full and complete settlement of any and all claims, disputes, disagreements, and potential litigation between the parties in connection therewith.

NOW, THEREFORE, in consideration for the following to be provided by Richmond American at the Home, the receipt and sufficiency of which is hereby acknowledge:

    1. Squeaking and uneven sub-floor shall be repaired and adjusted on the 1st and 2nd levels;
    2. Overlay (and screw fasten) one half inch plywood existing sub-flooring on the first and second floors;
    3. Adjustment of the bottoms of doors after the installation of the one half inch plywood floorboards;
    4. Replacement of existing carpet with new carpet of the same original selection shall be laid on the stairs and entire 2nd floor except two bathrooms and laundry room;
    5. Replacement of existing vinyl with new vinyl of the same original selection shall be laid in the 2nd floor master bathroom, hall bathroom and laundry room;
    6. Draftiness and insulation problems of the home shall be corrected, especially in the areas of the Master suite, Fireplace, Front Door, Garage Door and Basement;
    7. Uneven bulges, seams, stud attachments and nail pops on all wall surfaces across the entire house to be repaired and/or adjusted;
    8. Family Room window problems shall be corrected for proper installation, as they are binding and/or loose;
    9. Stained/Discolored fireplace stones to be replaced;
    10. Structural noise in the presence of wind shall be addressed;
    11. Protruding, uneven and out of square tiles in Mater Bathroom shall be corrected;
    12. Trim finish in both upstairs bathrooms shall be corrected;
    13. Distressed and dead lawn shall be aerated, over seeded, and fertilized, or replace with new healthy lawn;
    14. Hole from relocated tree shall be back-filled with Sod;
    15. Ailing/dead trees and plants at the front of house shall be replaced with new healthy trees/plants of the same kind and species;
    16. Exposed drainage at the rear of house shall be reoriented and positioned correctly so that it drains away from house;
    17. Stains on front concrete stoop shall be removed;
    18. Install hardwood floors, Bruce CB-826 Solid Edge, Butterscotch, on the entire first level.

      Conditioned upon and subject to the satisfactory completion of the work identified as A through R above, Xxxxxxxxxxxxxxxxxxxxxx agree as follows:

      1. Xxxxxxxxxxxxxxxxxxxxxx release and forever discharge Richmond American and its officers, directors, shareholders, parent companies, subsidiaries, affiliates, employees, agents, representatives, architects, engineers, contractors, subcontractors and suppliers, from any and all claims, damages, debts, demands, liabilities, losses, suits, actions and causes of action, which Xxxxxxxxxxxxxxxxxxxxxx have or may have against Richmond American arising from, regarding or related to the appearance, quality, status or condition of the Home and Xxxxxxxxxxxxxxxxxxxxxx shall, by no later than _________________, 2002, remove from the internet all displays, e-mails, items, matters, postings, references or sites regarding or related to the Purchase Agreement, the Home and/or Richmond American, and all such references to the Purchase Agreement, the Home and Richmond American shall be and remain permanently removed from the internet and from all media or other third-party exposure.

      2. Xxxxxxxxxxxxxxxxxxxxxx preserve all rights they have under RWC New Home Warranty for any matters other than the appearance, quality, status or condition of the areas, fixtures, floorings, parts and/or structures of the Home.

      3. Xxxxxxxxxxxxxxxxxxxxxx understand and agree that except as to any disclosure which may be required by law, Xxxxxxxxxxxxxxxxxxxxxx shall not distribute, file, record or reveal this Release or disclose the fact, nature, terms or conditions of the parties’ disputes, settlement or this Release to any other persons, firms, organizations or agencies, without the express, prior, written consent of Richmond American.

      4. Xxxxxxxxxxxxxxxxxxxxxx understand and agree that this settlement is made to compromise disputed claims, and it shall not be construed or represented as an admission of liability by Richmond American and any claimed liability is expressly denied by Richmond American.

      5. This Agreement may not be amended, altered, modified or changed unless such amendment, alteration, modification or change is in writing and is signed by all of the parties to be charged thereby.

      6. This Agreement shall be binding upon Xxxxxxxxxxxxxxxxxxxxxx and their heirs, successors and assigns, for the benefit of Richmond American and its successors and assigns.

This Agreement shall be governed by and construed under the laws of the Commonwealth of Virginia.

 

 

_________________ Date

XXXXXXX

 

________________ Date

XXXXXXX

 

RICHMOND AMERICAN HOMES OF VIRGINIA, INC., a Virginia corporation

 

Date:_____________ By:________________________________

                                   Peter Thompson