Paper instructions: CONSTRUCTION LEGAL ENVIRONMENT II. Florida’s construction defect statute, F.S. 558.001 and the balance of Chapter 558 which became effective on M ay 27, 2003 has caused considerable confusion among construction practioners and contractors relating to its procedure and enforcement. This statute dramatically altered the industry in the litigation of construction defect claims by requiring homeowners to provide contractors and other allegedly responsible parties with prior written notice and an opportunity to cure the alleged defects prior to filing a lawsuit. Please fumish a summary of the obligations, responsibilities and time limitations imposed on those parties required to serve notice of the defect and those parties receiving notice of the defect. Discuss both the positive and negative aspects as it relates to both parties conceming the Mutual Exchange of Evidence, the Right to Inspect the Property, Destructive Testing, the Contractor’s Failure to Take Any Action, the Contractor’s Failure to Honor an Agreement to Make Repairs, and the time limits to complete promised repairs. Finally, provide a conclusion regarding the effectiveness of this statute and its benefit(s), if any, to the construction industry and the homeowner. III. Due Date and Courcse Grade This assignment shall be worth ten (10%) of the total course grade and shall be due no later than November 25, 2013. No excuses are acceptable given students have four (4) months to complete this assignment. A letter grade will be deducted for every day the graduate student paper is later. * * *This paper is required for all graduate students and is not fm extra credit* * * A hard copy of the paper should be fumished to the professor on November 25, 2013, at the beginning of class. The student may choose to e-mail the paper to the professor on or befare midnight on November 25, 2013, however if the attachment, cannot be opened on or before the deadline for any reason regardless of fault the student will be deducted a letter grade for every day the paper is late. lt is therefore highly recommended that a hard copy of the document be fumished to the professor on or before the deadlíne of November 25, 2013. Additional materials: not defined