Common use of Security for Public Improvements Clause in Contracts

Security for Public Improvements. Prior to issuing a building permit, the development shall provide the Town with surety in the form a bond or an Irrevocable Letter of Credit. The Amount of the Security shall be the amount of the Cost Estimate plus 15%.”

Security for Public Improvements. Prior to issuing a building permit, the development shall provide the Town with surety in the form of a bond or an Irrevocable Letter of Credit. The Amount of the Security shall be the amount of the Cost Estimate plus 15%.”

Security for Public Improvements. Prior to issuing a building permit, the development shall provide the Town with surety in the form a bond or an bond, Irrevocable Letter of Credit. The Amount of the Security shall be the amount of , or guarantee from an entity with sufficient financial resources for the Cost Estimate plus 15%” as surety for the Project.”