Following a hurricane the next year and more water damage, the association submitted an insurance claim. When the claim wasn’t being immediately paid, the association sued the insurance company. In turn, the insurance company sued the developer and contractor for defective workmanship on the exterior cladding.
But the insurance company lost this battle. The developer and contractor produced the agreement and release they had gotten from the association, and the court agreed with them. The release they had obtained relieved both of them of further liability.
As any construction lawyer would advise you, get that release whenever you settle a claim. It will come in handy if someone pops up down the road making a claim on the same issue you already settled.