I. Upon entering into a purchase agreement or contract for the construction or improvement of a residence in which the contract amount exceeds $5,000, the contractor shall provide written notice to the owner of the residence of the contractor's right to resolve alleged construction defects before a homeowner may commence litigation against the contractor. Such notice shall be conspicuous and may be included as part of the contract. II. Contracts providing third party insured warranty programs must provide homeowners with warranty documents and claim procedures at or before closing or first occupancy. III. The notice required by paragraph I shall be in substantially the following form: NEW HAMPSHIRE LAW, RSA 359-G, CONTAINS IMPORTANT REQUIREMENTS YOU MUST FOLLOW BEFORE YOU MAY FILE A LAWSUIT OR OTHER ACTION FOR DEFECTIVE CONSTRUCTION AGAINST THE CONTRACTOR WHO CONSTRUCTED, REMODELED, OR REPAIRED YOUR HOME. SIXTY DAYS BEFORE YOU FILE YOUR LAWSUIT OR OTHER ACTION, YOU MUST SERVE ON THE CONTRACTOR A WRITTEN NOTICE OF ANY CONSTRUCTION CONDITIONS YOU ALLEGE ARE DEFECTIVE. UNDER THE LAW, A CONTRACTOR HAS THE OPPORTUNITY TO MAKE AN OFFER TO REPAIR AND/OR PAY FOR THE DEFECTS. THERE ARE STRICT DEADLINES AND PROCEDURES UNDER STATE LAW, AND FAILURE TO FOLLOW THEM MAY AFFECT YOUR ABILITY TO FILE A LAWSUIT OR OTHER ACTION.