Common use of Security Required Clause in Contracts

Security Required. In order to secure the construction and installation of the public and other required Subdivision improvements, whether on-site or off-site, above described and as shown in the Subdivision Final Plat for the Property and all accompanying documents, drawings and plans submitted for the Approved for Construction drawings, for which the Developer is responsible, and in accordance with Section 17.21.100 of the Fruita Municipal Code, the Developer shall furnish the City with: (a) cash to be deposited in an escrow account that is acceptable to the City pursuant to the Escrow and Disbursement Agreement attached hereto as Exhibit "_C_" and incorporated herein by this reference; or (b) an irrevocable standby letter of credit that is acceptable to the City; or (c) a performance bond issued by a surety approved by the City, in an amount equal to one hundred ten percent (110%) of the estimated cost of said facilities.

Security Required. In order to secure the construction and installation of the public and other required Subdivision improvements, whether on-site or off-site, above described and as shown in the Subdivision Final Plat for the Property and all accompanying documents, drawings and plans submitted for the Approved for Construction drawings, for which the Developer is responsible, and in accordance with Section 17.21.100 of the Fruita Municipal Code, the Developer shall furnish the City with: (a) cash to be deposited in an escrow account that is acceptable to the City pursuant to the Escrow and Disbursement Agreement attached hereto as Exhibit "_C_" and incorporated herein by this reference; or (b) an irrevocable standby letter of credit that is acceptable to the City; or (c) a performance bond issued by a surety approved by the City, in an amount equal to one hundred ten percent (110%) of the estimated cost of said facilities.

Security Required. In order to secure the construction and installation of the public and other required Subdivision improvements, whether on-site or off-site, above described and as shown in the Subdivision Final Plat for the Property and all accompanying documents, drawings and plans submitted for the Approved for Construction drawings, for which the Developer is responsible, and in accordance with Section 17.21.100 of the Fruita Municipal Code, the Developer shall furnish the City with: (a) cash to be deposited in an escrow account that is acceptable to the City pursuant to the Escrow and Disbursement Agreement attached hereto as Exhibit "_C_" " and incorporated herein by this reference; or (b) an irrevocable standby letter of credit that is acceptable to the City; or (c) a performance bond issued by a surety approved by the City, in an amount equal to one hundred ten percent (110%) of the estimated cost of said facilities.