Common use of Maintenance Bonds Clause in Contracts

Maintenance Bonds. Upon acceptance of the Guaranteed Maximum Price Proposal, the Construction Manager shall provide a maintenance bond insuring the City that the Construction Manager will 1) maintain and keep in good repair, and replace or repair and correct any and all defects arising in the Work, whether resulting from defective materials or defective workmanship; and 2) make and perform all necessary repairs, reconstruction and renewal of any part of said Work, and furnish the labor and materials to make good and to repair any defective condition growing out of or on account of the breakage or failure of any substance or the improper function of any part of the Work. The maintenance bond’s duration shall be for a period of two (2) years after the date of the City’s final payment to the Construction Manager.

Maintenance Bonds. Upon acceptance of the Guaranteed Maximum Price Proposal, the Construction Manager ▇▇▇▇ shall provide a maintenance bond insuring the City that the Construction Manager ▇▇▇▇ will 1) maintain and keep in good repair, and replace or repair and correct any and all defects arising in the Work, whether resulting from defective materials or defective workmanship; and 2) make and perform all necessary repairs, reconstruction and renewal of any part of said Work, and furnish the labor and materials to make good and to repair any defective condition growing out of or on account of the breakage or failure of any substance or the improper function of any part of the Work. The maintenance bond’s duration shall be for a period of two (2) years after the date of substantial completion of the City’s final payment to the Construction Managerproject.