Opinion by JUDGE KELLY Defendant, The Heritage Company, appeals from a final order of the trial court which denied its motion to compel plaintiff Red Sky Homeowners Association to arbitrate the claims of damages allegedly reslting from defective construction at the Red Sky Project. The trial court found that Heritage was not an ""owner"" as contemplated by the Red Sky Homeowners Declaration and, thus, not entitled to invoke the arbitration agreement contained therein. See Â§ 13-22-221(1)(a), C.R.S. (1983 Cum. Supp.). We affirm. It is unnecessary to reach the question whether Heritage is an owner since, based upon the undisputed facts, we conclude as a matter of law that any claimed right Heritage may have had to arbitration has been waived. See Cordillera Corp. v. Heard, 41 Colo. App. 537, 592 P.2d 12 (1978), aff'd, 200 Colo. 72, 612 P.2d 92 (1980).