Errors or omissions in any reports prepared under this chapter shall not bind or estop the city from abating any dangerous defects on the property by legal action against the seller, buyer or any subsequent owner. Such reports do not address guarantees of the structural stability of any existing building nor do they relieve the owner, his agent, architect or builder from designing and building a structurally stable building which meets the requirements of adopted codes and ordinances. Such reports shall be valid only as to the specific transaction for which the inspection and review of record was made by the city; provided, however, that in the event such transaction is not consummated, the reports shall be valid for a period of one hundred eighty days, on the condition that if a subsequent transaction is arranged during that period the property shall again be inspected by the city and a supplemental report issued, if necessary, without charge to the owner. (Ord. 81-8 § 1, 1981)