Maintenance guarantee definition
Maintenance guarantee means any security which may be
Maintenance guarantee means a guarantee that the Public Improvements constructed shall be free from defects and failures as more fully described in Paragraphs 5.2 and 5.4 below.
Maintenance guarantee means an undertaking by the Developer to the Town that all Works constructed under this Agreement will function as designed and will not fail in any manner whatsoever so as to cause a risk to public safety or private lands, Building or structures within the Plan of Subdivision or immediately adjacent boundary lands, and that should the Works, or any of them, fail or not perform their intended function within the specified maintenance guarantee period, they will be replaced or repaired to the satisfaction of the Director of Public Works by the Developer at its cost.
Examples of Maintenance guarantee in a sentence
Maintenance guarantee will not be honored if the maintenance problem was caused by Residents' negligence, abuse, or fault and/or the Company/City who provides service.
More Definitions of Maintenance guarantee
Maintenance guarantee means any security which may be accepted by a municipality for the maintenance of any improvements required by this act, including but not limited to surety bonds, letters of credit under the circumstances specified in section 16 of P.L.1991, c.256 (C.40:55D-53.5), and cash.
Maintenance guarantee means any security which may be accepted by a
Maintenance guarantee means a security required or accepted to assure that necessary improvements will func- tion as required for a specific period of time.
Maintenance guarantee means any security which may
Maintenance guarantee means an undertaking by the Developer to the City that all Works constructed under this Agreement will function as designed and will not fail in any manner whatsoever so as to cause a risk to public safety or private lands, Building or structures within the Plan of Subdivision or immediately adjacent boundary lands, and that should the Works, or any of them, fail or not perform their intended function within the specified Maintenance Guarantee Period, they will be replaced or repaired to the satisfaction of the City by the Developer at its cost.
Maintenance guarantee means any security which may be accepted by a municipality for the maintenance of any improvements required by this act, including but not limited to surety bonds, letters of credit under the circumstances specified in section 16 of P.L.
Maintenance guarantee means a surety bond, cash deposit, irrevocable letter of credit, escrow account or certificate of deposit, pledged to the City of Maquoketa in an amount so as to insure that for a period of two (2) years from acceptance date, the developer shall be responsible to maintain improvements dedicated to the public in good repair.