Construction Defects; Specifies that certain disclosures & documents must be provided before claimant may file action; removes provisions related to action involving association; provides requirements for notice of claim, repair of construction defects, & payments for such repairs; revises timeframe within which certain persons are required to serve written response to claimant; prohibits advance payments for such repairs; limits liability; provides requirements for certain payments held in trust; requires parties to construction defect claim to participate in mandatory nonbinding arbitration.