For Improvements Within the Corporate Limits Sample Clauses

For Improvements Within the Corporate Limits. (1) The security furnished pursuant to § 14.11(b) shall remain in full force for a period of fourteen (14) months after the completion of the project and acceptance by the Village Board unless partially released as hereinafter provided. The security shall be held to guarantee the work performed pursuant to private contracts against defects in workmanship and materials. If any defect appears during the period of the guarantee, the subdivider or its contractor shall, at its expense, install replacements or perform acceptable repairs. In the event that the subdivider fails to install the replacement or perform the repairs, the Village may do so and deduct the cost thereof from the security. Unless defects have appeared and have not been repaired, the Village will release the security to the subdivider upon expiration of the fourteen (14) month guarantee period.
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