Cosmetic Flaw definition

Cosmetic Flaw means a material flaw in the appearance of an item (as opposed to a structural or other construction defect) which is readily visible, exceeds normal tolerances, and is substantial enough to affect the overall appearance of and materially affect the market value of the item. An obscured or minor flaw is considered to be of no consequence and to be within building industry standards and is not considered a Cosmetic Flaw. Following substantial completion of the Property, a walk-through of the Property (“Walk- through”) by the Purchaser or a representative designated by the Purchaser in writing (“Purchaser’s Representative”) will be scheduled by Seller. Any Cosmetic Flaws must be recorded during the Walk-through on the report (the “Defect Report”) to be signed by Purchaser or Purchaser’s Representative immediately following the Walk-through. Seller will promptly correct any Cosmetic Flaws that are recorded on the Defect Report. Seller will not have any obligation to correct any claimed Cosmetic Flaw not noted on the Defect Report. Without limitation, Purchaser (or Purchaser’s Representative) must carefully inspect the following items during the Walk-through as damage to the items can occur easily during move-in and, therefore, will not be warranted after Purchaser takes possession of the Property: Bathroom fixtures and finishes, towel bars, rings, toilet paper dispensers, bathtub and sink finishes, cabinets, ceramic floor tile, counter top tile, cultured marble, plastic laminate, solid surface, marble or granite surface counter tops, door and cabinet handles, vinyl, stone, tile, carpet or laminate floor coverings, tub and shower units, lighting fixtures, luminous lighting panels, mirrors and medicine cabinets, plumbing fixtures, drywall, handrails, window screens, frames and glass, doors and door trim, and appliance finishes.