Guarantee of Improvements. The Owner warrants that each completed improvement will operate in accordance with its intended use for one year from the date that improvement is accepted by the County.
Guarantee of Improvements. 706 A. Guarantee. Developer guarantees that all materials and workmanship furnished by Developer 707 pursuant to this Agreement shall meet or exceed all state, federal and local requirements and 708 specifications and that the public improvements are and will remain in good and sound 709 condition for and during a period of twelve (12) months from the date of final acceptance of 710 dedication by the Village. 711 712 B. Guarantee Security. Notwithstanding the following in this section, it is the preference of the 713 Village that security be provided in the form of a letter of credit. Developer shall furnish to 714 the Village, prior to final acceptance of dedication of the public improvements by the 715 Village, guarantee security pursuant to §236.13 of the Wisconsin Statutes consisting, as 716 determined by Developer, of a performance bond or an original, irrevocable letter of credit 717 issued by a federally insured banking institution, the financial condition of which is 718 acceptable to the Village, naming the Village as payee, expiring no sooner than fourteen 719 months from the date of substantial completion of the covered improvements and equaling in 720 the aggregate to ten percent (10%) of the total final cost of the improvements, which 721 guarantee security will be retained by the Village for a period of fourteen (14) months after 722 the substantial completion of the improvements as initial security for Developer’s guarantee 723 that the workmanship and materials furnished meet or exceed all state, federal and local 724 requirements and specifications, and that the improvements are and will remain in good and 725 sound condition for and during the twelve-month period from and after their acceptance. 726 Separate bonds or letters of credit may be utilized because the time frame for the acceptance 727 of each type of improvement may be different. 728 729 C. Obligation to Repair. Developer shall make or cause to be made, at its own expense, any and 730 all repairs which may become necessary under and by virtue of Developer’s guarantee and 731 shall leave the improvements in good and sound condition, satisfactory to the Village and 732 Village Engineer and DPW Director at the expiration of the guarantee period; provided, 733 however, Developer’s obligation to repair shall not extend to repairs necessitated by or 734 related to any act, omission, neglect or misconduct of the Village, its agents, employees or 735 contractors (and the guarantee secu...
Guarantee of Improvements. Developer shall guarantee all dedicated Public Improvements against defects due to faulty materials or workmanship which appear within one (1) year from the date of Acceptance by the Village, as provided for in this Agreement. Also, the Developer agrees to have a two (2) year guarantee of the final course of asphalt for two (2) years following such installation of asphalt within the respective phase as noted in Section I, Public Improvements, paragraph G. Streets. Developer shall repair or replace any Public Improvements as required by the Village Engineer to eliminate defects and shall pay for all damages to Village property resulting from such defects. Each repair or replacement performed pursuant to this paragraph shall be guaranteed for one (1) year from the completion thereof.
Guarantee of Improvements. Section 6, One-Year Guarantee of Improvements is amended to provide that the one-year warranty period shall commence for each completed phase, upon the County’s acceptance of that phase, as described in Paragraph 6 above.
Guarantee of Improvements. A. In order to guarantee the construction of this Project, per contract number Contract
Guarantee of Improvements. Developer shall guarantee all dedicated Developer Public Improvements against defects due to faulty materials or workmanship which appear within one (1) year from the date of Acceptance by the Village, as provided for in this Agreement (“Guaranty Period”). During the Guaranty Period, the Developer shall repair or replace any Developer Public Improvements as necessary to eliminate defects and shall pay for all damages to Village property resulting from such defects. Each repair or replacement performed pursuant to this paragraph shall be guaranteed for one (1) year from the completion thereof.
Guarantee of Improvements. The improvements shall be completed to the satisfaction of the City Engineer and according to adopted City standards. To guarantee satisfactory installation and construction of the subdivision improvements within the time set forth in Section 5 below, the Developer has deposited with the Escrow on account an amount equal to the total of the cost of the improvements as determined by South Xxxxx City.
Guarantee of Improvements. APPLICANT hereby files, as an independent guarantee (herein “Financial Guarantee”) with COUNTY for the purpose of insuring construction and installation of the Improvements and payment of the Fees, one of the following (check one and complete applicable information): CASH CERTIFICATE, identified by the following: Escrow Account: , Escrow Account Repository: , _ IRREVOCABLE LETTER OF CREDIT (herein the "Letter of Credit"), identified by the following: Letter of credit account or number:___________, Financial Institution:________________, The Financial Guarantee shall be in the amount of one hundred ten percent (110%) of the County Engineer’s Cost Estimate (see also Exhibit A attached hereto). The Escrow Certificate or Letter of Credit shall be issued in favor of COUNTY to the account of APPLICANT herein, in the amount of $35,569.63 (herein the "Proceeds"), and is made a part of this Agreement as Exhibit B (Escrow Certificate or Letter of Credit). APPLICANT agrees to use the proceeds from the sale of lots within Uintah View Estates Subdivision to replace the Letter of Credit with funds held under the control of COUNTY, as follows. As sales occur, APPLICANT will deposit the proceeds from those sales into an account that will be set up at Capital Community Bank under the sole control of the Xxxxx County Treasurer. Once the funds in that account reach $00.000.00, or a lesser amount if APPLICANT is entitled to a partial release of Proceeds under the terms of this Agreement, resulting in that lesser amount being sufficient, then COUNTY will notify Capital Community Bank that it has released APPLICANT from all further liability under the Letter of Credit and that COUNTY relinquishes its interest in the Letter of Credit. Funds deposited into the account at Capital Community Bank will be held and released by COUNTY in accordance with the terms of this Agreement.
Guarantee of Improvements. Wal-Mart shall guarantee all dedicated improvements against defects due to faulty materials or workmanship which appear within eighteen (18) months from the date of acceptance of dedication of such improvements as provided for in this Agreement. Wal-Mart shall repair or replace any such improvements deemed by the City necessary to eliminate such defects and shall pay for all damages to City property or easements and all other City costs resulting from such defects during such period.
Guarantee of Improvements. Developer shall guarantee all dedicated Public Improvements against defects due to faulty materials or workmanship which appear within one (1) year from the date of Acceptance by the Village, as provided for in this Agreement. Also, the Developer agrees to have a one year DR
