The Construction Lien Act Sample Clauses

The Construction Lien Act. 26.1 The Owner shall comply with all of the provisions of the Construction Lien Act, RSO. 1990, as amended, from time to time (herein called the “Act”) and without limiting the generality of the foregoing, shall hold in its possession all the statutory holdbacks and any additional funds required to be held by the Act. These holdbacks and funds shall not be disbursed except in accordance with the Act. 26.2 The Owner shall indemnify and hold harmless the Town from all losses, damages, expenses, actions, causes of action, suits, claims, demands and costs whatsoever which may arise either directly or indirectly by reason of any failure, neglect or refusal by the Owner to comply with the Act or by reason of any action brought against the Town or of them pursuant to the Act and arising out of the performance of this agreement by the Owner and its servants, employees, agents and subcontractors. 26.3 The Town Treasurer may, at any time, authorize the use of all or part of the performance guarantee referred to in paragraph 26.1 of this agreement: 26.3.1 to pay, discharge, vacate, and obtain and register a release of all charges, claims, liens, and all preserved or perfected liens made, brought, or registered pursuant to the Act which affects any lands owned by the Town, including public highways in the event the Owner defaults in the performance of this agreement; and 26.3.2 to pay to the Town any amounts owing to them pursuant to paragraph 26.2 of this agreement. 26.4 The Owner acknowledges that the Town shall not be required to reduce or release the performance guarantee in accordance with paragraph 26 of this agreement until the Town is satisfied that all of the provisions of paragraph 26 and 27 together with all other provisions of this agreement have been complied with.