Bond Required. Before acceptance of the Extension and Xxxx of Sale by the District, the Developer shall furnish to the District a Maintenance Bond in a form acceptable to the District. The bond shall require the Developer and/or the bonding company to correct defects in labor, workmanship, and materials which arise in the Extension for two (2) years from the date of acceptance of the Extension and until the bond is released by the District. The bond shall be in an amount equal to ten (10) percent of the cost of the Extension, but not less than five thousand dollars ($5,000.00).
Appears in 3 contracts
Samples: System Extension Agreement, System Extension Agreement, System Extension Agreement
Bond Required. Before acceptance of the Extension and Xxxx Bill of Sale by the District, the Developer shall furnish to the District a Maintenance Bond in a form acceptable to the District. The bond shall require the Developer and/or the bonding company to correct defects in labor, workmanship, and materials which arise in the Extension for two (2) years from the date of acceptance of the Extension and until the bond is released by the District. The bond shall be in an amount equal to ten (10) percent of the cost of the Extension, but not less than five thousand dollars ($5,000.00).
Appears in 2 contracts
Samples: System Extension Agreement, System Extension Agreement
