Security for Improvements Clause Samples

Security for Improvements. The Developer’s obligation to construct Improvements depicted within the Approved Plans shall be secured by a Performance and Warranty Guarantee. A. The Developer shall obtain a Performance Guarantee which shall be furnished to the City prior to the issuance of any construction permit. The type of Performance Guarantee chosen by the Developer shall be in accordance with all applicable provisions of the Standards and Specifications, the Code, and as required by Section 3.00 herein, except as provided in Section 5.06 of this Agreement. In addition, any Improvements within existing improved rights-of-way require a security deposit in the form of a letter of credit in the amount of one hundred percent (100%) of the estimated cost for such improvements as identified in the Cost Estimate and in accordance with Section 2- 272(f)(3)(a) of the Code. B. The entity issuing the Performance and Warranty Guarantee shall have at least an "A" rating from ▇▇▇▇▇'▇, or an equivalent rating as designated by a nationally recognized ratings firm, and be included in the most recent listing of companies holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies, Department of Treasury, Circular 570. C. If, at any time prior to the City’s acceptance of the Public Improvements, the Performance Guarantee expires or the entity issuing the Performance Guarantee fails to meet the requirements of this Section 4.04, or the estimated construction costs of the Improvements are reasonably determined by the City to be greater than the amount of the Performance Guarantee provided, then the City shall furnish the Developer with written notice of such condition, and within twenty (20) calendar days of the date of such notice the Developer shall provide the City with a substitute Performance Guarantee, or increase the Performance Guarantee to achieve one hundred percent (100%) of the estimated construction cost of Improvements other than Landscaping Improvements, which shall be secured at one hundred fifty percent (150%) of the estimated costs as set forth in Section 5.06. If such Performance Guarantee is not furnished, as set forth herein, the City reserves the right to issue a stop work order as defined in the Standards and Specifications, and may declare the Developer in default of this Agreement in accordance with Section 15.00. D. The Developer providing the Performance Guarantee shall have no direct or indirect ownership interest in or ...
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Security for Improvements. The CITY agrees that upon receipt of the secwity described in Paragraph VII it will issue building permits (upon payment of permit fees, public utility inspection fees of 0.75 of estimated construction costs aThd satisfaction of City code requirements) for Superwash. If the DEVELOPER fails to complete construction of all of the improvements, within ninety (90) calendar days of issuance of the building permit, the CITY may attach the security and cause the improvements to be made. Any engineering or construction costs in excess of the security shall be bomc by the DEVELOPER. Any additional construction services shall be let by bid, and sub ect the laws of the State of Idaho relative to the letting of such bids.
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Security for Improvements. Simultaneously with the execution of this Tenant will deliver a bank irrevocable demand letter of credit ("LC") in favor of Landlord as beneficiary thereunder in the original amount of Fifty Thousand ($50,000.00)
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Security for Improvements. If the Improvements have not been accomplished to the City Engineer’s satisfaction by the Improvements Deadline, DEVELOPER shall post security to assure completion of the Improvements in an amount and form acceptable to the City Attorney and City Public Works Director within 30 days of the Improvements Deadline.
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Security for Improvements. For all Improvements to be constructed on the Premises, Lessee shall provide the security described in Schedule 1 in order to assure that persons who provide labor, services or materials to the Premises are paid and prevent the assertion of claims against Lessor or liens against the Premises.
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Security for Improvements. Developer’s obligations to construct Improvements shall be secured by a Performance Guarantee in amounts as required by the Standards and Specifications as identified herein. A. The Developer shall obtain a Performance Guarantee which shall be furnished to the City prior to the issuance of any construction permit by payment of cash, a cashier’s check, an irrevocable letter of credit assignment of funds, or a performance bond. B. The type of Performance Guarantee chosen by the Developer must be in a form and substance acceptable to the City, considered a qualifying Performance Guarantee, and in accordance with all applicable provisions of the Standards and Specifications and City Code as required by Section 3.00 herein, except as provided in Section 5.06 of this Agreement. In addition, any Improvements within existing improved rights-of-way require a security deposit in the form of a letter of credit in the amount of 100% of the estimated cost for such improvements as identified in the Cost Estimate and in accordance with Section 2-272.(f) (3) (a) of the Code. C. If, at any time prior to the City’s acceptance of the Public Improvements, the Performance Guarantee expires or the entity issuing the Performance Guarantee becomes non-qualifying, or the estimated construction costs of the Improvements are reasonably determined by the City to be greater than the amount of the security provided, then the City shall furnish the Developer with written notice of such condition, and within twenty (20) calendar days of the date of such notice the Developer shall provide the City with a substituted Performance Guarantee, or augment the deficient security to achieve one hundred percent (100%) of the estimated construction cost of Improvements other than Landscaping Improvements, which shall be secured at 150% of the estimated costs as set forth in Section 5.06. If such Performance Guarantee is not furnished, as set forth herein, a stop work order may be issued as defined in the Standards and Specifications, and the City may draw on any applicable existing Performance Guarantee. D. The Developer providing the Performance Guarantee shall have no direct or indirect ownership interest in or managerial control over an entity issuing any type of Performance Guarantee. E. Upon the receipt and approval of the Performance Guarantee by the City, the Developer and the Developer's successor shall be eligible to apply for building permits pursuant to the City's applicable procedures a...
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Security for Improvements. A. In order to ensure the timely completion of the installation and construction of the Improvements to the City’s satisfaction, Developer shall provide the City with security in an amount equal to one hundred fifteen percent (115%) of the total estimated costs to install and construct the Improvements, by phase in accordance with the Phasing Plan, as set forth in the ECE (“Security”). B. Security shall be in the form of a cash deposit or irrevocable letter of credit (“Letter of Credit”). A Letter of Credit shall be issued by a Colorado bank or, if approved by the City, a financial institution registered to do business in the State of Colorado and in good standing with the Colorado Secretary of State. A Letter of Credit shall be in substantially the same form as the form attached hereto as Exhibit E, unless an alternative form is approved by the City Attorney. If a Letter of Credit is set to expire and an acceptable replacement form of Security has not been provided to the City on or before fourteen (14) days prior to the expiration date of the Letter of Credit, the City, in its sole discretion, may draw on the Letter of Credit and either hold such funds as security for Developer’s performance of its obligations under this Agreement or spend such funds to complete the construction and installation of the Improvements. C. In accordance with the Lone Tree Code, Security shall be provided to the City prior to and as a condition of recordation of the Final Plat.‌ D. Security shall be maintained in the amounts required by this Agreement through Final Acceptance (defined in Section VII.E below) by the City of the Improvements. E. If at any time prior to Final Acceptance the City determines that the amount of Security is not sufficient to cover the costs of the installation and construction of the Improvements, Developer shall be required to immediately provide additional or supplemental Security in an amount deemed sufficient by the City.
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Security for Improvements 
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Related to Security for Improvements

  • Existing Improvements All improvements located on the Site as of the date of execution of the Construction Contract, whether above or below the surface of the ground, including but not limited to existing buildings, utilities, infrastructure improvements and other facilities.

  • ALTERATIONS & IMPROVEMENTS Tenant shall not make any alterations, additions or improvements or do any type of construction to the Property without first obtaining Landlord's written consent. Unless prior written agreement is reached between Tenant and Landlord, any such alterations, additions, improvements or construction shall become part of the Property and shall remain at the expiration of Tenant's Lease term. If Landlord approves of alterations, additions, improvements or construction in writing and Tenant intends to use contractors to undertake such work, the contractors must first be approved in writing by Landlord. Tenant must also place any funds to cover the amount of any alterations, additions, improvements or construction in an escrow account approved by Landlord before the commencement of the work. Landlord shall designate the times and manner of the work being done, exclusively.

  • Public Improvements To the best knowledge of the Transferor Partnership, there are no written or proposed plans to widen, modify, or realign any street or highway or any existing or proposed eminent domain proceedings which would affect the Property in any way whatsoever. To the best knowledge of the Transferor Partnership, there are no presently planned public improvements which would result in the creation of a special improvement or similar lien upon the Property.

  • Maintenance of Improvements All improvements on the property, including, but not limited to, buildings, trees or other improvements now on the premises, or hereafter made or placed thereon, shall be a part of the security for the performance of this contract and shall not be removed therefrom. Purchaser shall not commit, or suffer any other person to commit, any waste or damage to said premises or the appurtenances and shall keep the premises and all improvements in as good condition as they are now.