Construction Bonds. In accordance with 153.54, et. seq. of the Ohio Revised Code, the recipient shall require that each of its Contractors furnish a performance and payment bond in an amount at least equal to 100 percent (100%) of its contract price as security for the faithful performance of its contract;
Construction Bonds. The Contractor is required to tender to Owner, prior to commencing the Work, performance and payment bonds, as required by Tex. Gov’t Code, Chapter 2253.
Construction Bonds. Not later than thirty (30) days prior to the proposed Commencement of Construction Borrower shall deliver to the County copies of labor and material bonds and performance bonds for the rehabilitation of the Development in an amount equal to one hundred percent (100%) of the scheduled cost of the rehabilitation of the Development. Such bonds must name the County as a co-obligee.
Construction Bonds. 3. Certified Statement
Construction Bonds. The Contractor is required to tender to ODR, prior to commencing any work, performance and payment bonds, as required below:
Construction Bonds. Tenant shall ensure that all improvements are constructed to completion in accordance with the approved Plans and that all persons or entities performing work or providing materials relating to such improvements including, but not limited to, all contractors, subcontractors, laborers, materialmen, suppliers and professionals, are paid in full for such services and materials. Prior to the commencement of any improvements to the Premises, the estimated cost of which exceeds Two Hundred Thousand Dollars ($200,000), Tenant shall cause to be made, executed and delivered to County at Tenant’s sole cost a bond that is in a form and substance reasonably satisfactory to County, that a company reasonably acceptable to County issues, and that guarantees Tenant’s compliance with its obligations arising under this Lease. Tenant may not subdivide improvements or phase projects for the purpose of avoiding the foregoing bond requirement. County shall be named as the obligee on the bonds. In lieu of the bond required by this Section, Tenant may file with County an alternative form of security in the form of cash, money order, certified check, cashier's check, clean irrevocable letter of credit, or security of a type listed in Part II of Chapter 625, Florida Statutes; provided, however, the form of the security and company issuing such security, if applicable, shall be subject to the prior written approval of County and shall be in accordance with County’s standard policies and procedures. Any such alternative form of security shall be for the same purpose and be subject to the same conditions as those applicable to the bond required by this Section. Any such alternative form of security may be reduced by Tenant subject to approval of County during the construction of the improvements, but not more than once per month, based upon the percentage of completion of the improvements plus retainage, and the Department, on behalf of the County, may execute such certificates, notices or other documents as may be necessary to effectuate such reduction. Tenant shall provide County evidence reasonably satisfactory to County evidencing the percentage of completion of the improvements, including, but not limited to, an executed Application and Certification for Payment (A1A Document G702) indicating the balance to finish the work, including retainage.
Construction Bonds. Bonds issued by surety bond companies for the benefit of, and as required by, municipalities or other political subdivisions to secure the performance by the Borrower, M/I Homes, Inc. or M/I Homes Construction, Inc. of their respective obligations relating to lot improvements and subdivision development and completion.
Construction Bonds. (a) As a condition precedent to the first draw request under the Loan, the Borrower shall deliver to the County copies of labor and material bonds and performance bonds for the construction of the Development in an amount equal to one hundred percent (100%) of the scheduled cost of the construction of the Development. The bonds required under this Section shall be issued by a surety licensed to do business in California and reasonably acceptable to the County. Such bonds must name the County as a co-obligee.
Construction Bonds. Assignee is not obligated to procure or maintain performance bonds, payment bonds, or other security with respect to the Site Improvements under the Redevelopment Agreement, but Assignee may be required to provide certain performance security in accordance with City ordinances in connection with the City’s land use and zoning approvals for Vertical Development on the Development Property.
Construction Bonds. Prior to or simultaneously with the execution of the Final Construction Documents (as defined below) for all work done in each Stage of Construction, the contractor under such Final Construction Documents must obtain a construction payment and performance bond in the total aggregate amount of the cost of all such work to be undertaken pursuant to such Final Construction Documents in such Stage of Construction to secure the full payment and performance of the entire construction and completion of such work under such Final Construction Documents for such Stage of Construction (a “Construction Bond”); provided, however, a single Construction Bond may cover the entire aggregate costs of construction and completion of the work to be done under Final Construction Documents for more than one Stage of Construction or separate sets of Final Construction Documents for more than one Stage of Construction. Each Construction Bond shall (i) be in form and substance reasonably acceptable to the Parties, and (ii) be from a bonding company named in the current Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as “Acceptable Reinsuring Companies” as published in Circular 570 (amended) by the Financial Management Service, Surety Bond Branch, U.S. Department of the Treasury. Each performance bond shall (i) be for the benefit of the Parties and the County and (ii) include a dual obligee rider acceptable to the Parties so that upon any failure of payment or performance by the contractor causing such Construction Bond to be issued, it is enforceable in accordance with its terms by the Landlord or County, without action by Xxxxxx, in the event there exists a Tenant Event of Default. In addition, a copy of each Construction Bond shall be immediately delivered to the Landlord or County by either Tenant, the contractor or the issuer upon the execution of corresponding Construction Documents for the work to which such Construction Bond is applicable. Each Construction Bond shall be held by Tenant until a Certificate of Completion has been accepted by Landlord in accordance with the terms of Article 7; thereafter, each Construction Bond, if unused and not relating to any Deferred Items, shall, with the approval of Tenant, be returned to the contractor causing such Construction Bond to be issued. Any Construction Bond relating to Deferred Items shall, with the approval of Tenant, be returned to the contractor causing such Construction Bond to be i...
