Maintenance Bond Sample Clauses
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Maintenance Bond. The payment bond and the performance bond shall be in a sum equal to the contract price. If the performance bond provides for a one year warranty a separate Maintenance Bond is not necessary. If the warranty period specified in the contract is for longer than one year a Maintenance Bond equal to 10% of the contract price is required. ▇▇▇▇▇ shall be duly executed by a responsible corporate surety, authorized to issue such bonds in the State of Michigan and secured through an authorized agent with an office in Michigan. SECTION 103. SCOPE OF WORK 103.01 Intent of the Plans, Specifications and Contract The intent of the Plans, Specifications and Contract is to provide for the completion of the Work in substantial compliance with the details as shown thereon and as described herein. The Contractor shall furnish all labor, materials, equipment, tools, transportation and necessary supplies, and shall perform all operations required to complete the Work in accordance with the Specifications, and the lines, grades and cross-sections provided for on the Plans, by Change Order or by Contract Modification. The Contractor shall have the affirmative responsibility to carefully study and compare the Contract Documents with each other and with information furnished by the County. The Contractor shall have the responsibility to immediately report to the County errors, inconsistencies or omissions discovered. If the Contractor performs any construction Work knowing it involves a recognized error, inconsistency or omission in the Contract Documents without such notice to the County, the Contractor shall assume appropriate responsibility for such performance and shall bear an appropriate amount of the attributable costs for correction. 103.02 Construction Schedule The construction schedule or critical path method (CPM) as required in the Request for Proposals shall be submitted, prior to the pre-construction conference, for review and approval by the County Director of Community Development or his designee. Updated construction schedules shall be supplied to the County with each application for payment. An updated construction schedule will always be supplied when any extension of the Contract Time has been granted by the County. Failure to provide any requested update of the construction schedule is grounds for termination. The Contractor shall prepare and keep current, for the County’s approval, a schedule of submittals which is coordinated with the Contractor’s constructi...
Maintenance Bond. The Payment Bond and the Performance Bond shall be in a sum equal to the contract price. If the Performance Bond provides for a one-year warranty a separate Maintenance Bond is not necessary. If the warranty period specified in the contract is for longer than one year a Maintenance Bond equal to 10% of the contract price is required. Bonds shall be duly executed by a responsible corporate surety, authorized to issue such bonds in the State of California and secured through an authorized agent with an office in California.
Maintenance Bond. Prior to the commencement of any work on any City property or rights of way, the Developer shall provide in the form of a Maintenance Bond, in form acceptable to the City, executed by Developer and a surety acceptable to the City, a written warranty providing protection for the City as to both material and workmanship for a period of two (2) years following completion and acceptance by the City of such Public Improvements. Pursuant to said bond, the Developer shall remedy any defect in material or workmanship, or pay, or cause to be paid, to the City, all damages, loss, and expense which may occur to the City, by reason of defective materials used, or by reason of defective workmanship done, for, and the construction of, the said Public Improvements. Said Maintenance Bond shall be in an amount equal to 100% of the budgeted cost for all Public Improvements.
Maintenance Bond. The Developer and/or its contractor shall be required to furnish the City a two (2) year maintenance bond guaranteeing the Improvements that are transferred to the City. The maintenance bond shall be provided to the City upon final inspection and acceptance of said Improvements.
Maintenance Bond. Prior to being placed on Council's agenda for acceptance of public improvements in this Subdivision, Subdivider shall deposit with the Director of Finance a Three (3) year maintenance bond for streets, pavement, storm and sanitary sewers, water systems, street lighting systems and facilities appurtenant thereto in the amount of Forty Six Thousand Nine Hundred Eighty Two and 50/100 ($46,982.50) Dollars, which represents ten percent (10%) of the estimated cost of said public improvements.
Maintenance Bond. A good and sufficient Maintenance Bond in an amount equal to 100 percent of the total cost of the Community Facilities (including all change orders) guaranteeing the maintenance in good condition of the Community Facilities for a period of two years from and after the date that a Letter of Acceptance is issued by the City indicating that the Community Facilities have been completed by the Developer and accepted by the City. The Maintenance Bond shall be made in favor of the City. In the alternative, the Developer may furnish a cash deposit, or certificate of deposit as security. Such forms of security shall be held by the City for a period of two years or until any deficiencies identified at the expiration of the two-year maintenance period are corrected, whichever occurs last. Each bond shall be in a form acceptable to the City and shall be written by a surety company duly authorized to do business in the State of Texas, provided that the Mayor shall have the right to reject any surety company for any work under this Contract. Bonds from the Developer’s prime contractor(s) or other entity acceptable to the City, may be accepted in lieu of Developer’s obligations specified above, at the discretion of the City Manager or the City Manager’s designee.
Maintenance Bond. Successful bidder shall upon acceptance of the work submit a maintenance bond in the amount of 100% guaranteeing against defective quality of work or materials for the period of: 1 year 2 years If required, failure to submit may be cause for rejection of bid in accordance with NJSA 40A:11-23.2.
Maintenance Bond. The apparent successful Vendor shall provide a two
Maintenance Bond. The Developer shall not be relieved of his obligation to maintain the Water System until the same is accepted by the District in writing; provided however, that upon acceptance of the Water System by the District the Developer shall be required to execute a maintenance bond, post a letter of credit or deposit cash pursuant to an escrow agreement with the District to ensure that the Water System is installed properly and that such construction has been performed in a workmanlike manner. The maintenance bond, letter of credit or cash escrow agreement shall provide that:
a. If within one (1) year from the date of acceptance of the Water System by the District the Water System shall disclose poor workmanship in the execution of said work, or it shall appear that defective materials were utilized therein, or in the event the Developer or any party working on behalf of the Developer shall cause damage to the Water System or cause any condition by grading or otherwise that would impede proper maintenance of the Water System, then said maintenance bond, letter of credit or cash escrow agreement shall remain in full force and effect, otherwise to be void. The maintenance bond, letter of credit or cash escrow agreement as required for the first year shall be in the amount of twenty percent (20%) of the estimated cost of the Water System but not less than $5,000 or approved by the District Engineer. The form and legality of the maintenance bond, letter of credit or cash escrow agreement shall be approved in a consistent manner by the District’s Counsel prior to acceptance thereof. And,
b. If after the first year but within three (3) years from the date of acceptance of the Water System by the District, the Developer or any party working on behalf of the Developer shall cause damage to the Water System or cause any condition by grading or otherwise that would impede proper maintenance of the Water System, then said maintenance bond, letter of credit or cash escrow agreement shall remain in full force and effect, otherwise to be void. If there are no outstanding work items or payments due, disputes between the parties, or other matter which would cause the District to hold the 20% maintenance bond, letter of credit or cash escrow agreement, then the District will require that the amount of the maintenance bond, letter of credit or cash escrow agreement as required from the end of year one (1) to the end of year three (3) shall be decreased to an amount equal to five pe...
Maintenance Bond. Prior to being placed on Council's agenda for acceptance of Public Improvements in the Development, Developer shall deposit with the Finance Director a three (3) year (measured from the date on which the Public Improvements are accepted by the City) maintenance bond for the Public Improvements in the amount One Thousand Five Hundred Seventy Three and 00/100 ($1,573.00) Dollars, which represents ten percent (10%) of the estimated cost of said Public Improvements.