Exclusion or modification of warranties of quality.
Except as limited by subsection 2 with respect to a purchaser of a unit that may be used for residential use, implied warranties of quality:
May be excluded or modified by agreement of the parties; and
Are excluded by expression of disclaimer, such as “as is,” “with all faults,” or other language that in common understanding calls the purchaser’s attention to the exclusion of warranties.
With respect to a purchaser of a unit that may be occupied for residential use, no general disclaimer of implied warranties of quality is effective, but a declarant and any dealer may disclaim liability in an instrument signed by the purchaser for a specified defect or specified failure to comply with applicable law, if the defect or failure entered into and became a part of the basis of the bargain.