Compliance Deposit Sample Clauses

Compliance Deposit. The Submission Requirements include a Compliance Deposit which must be paid to the Association prior to the initiation of ACC review. The Compliance Deposit is paid to the Association as security against violation of the Restrictions, the Construction Rules, the Approval and Construction Requirements, and any damage caused to the Association’s common areas, streets, or other property in the Development. The ACC or a majority of the Board may increase the Compliance Deposit in the event the ACC or a majority of the Board determine that the amount is insufficient to secure compliance with the Restrictions, the Construction Rules, or the Approval and Construction Requirements, or to protect the Development from damage caused or occasioned by construction of the proposed improvements. The determination to increase the Compliance Deposit may be based on prior violations by the Owner or Builder of the Restrictions, Construction Rules, Approval and Construction Requirements, or any other rules promulgated by the Association or the ACC, the experience or lack of experience of the Builder within the Development, or the nature of the construction methods associated with the proposed improvements. In the event the ACC or the Association determines that the Owner or Builder has violated the Restrictions, the Construction Rules, or the Approval and Construction Requirements or has otherwise caused damage to the Association’s common areas, streets, or other property in the Development, the Association will provide written notice to the Owner in accordance with applicable law. In general, this notice will include: (i) a description of the violation; (ii) a reasonable time to correct the violation; and (iii) an opportunity to appeal the violation to the ACC or the Board. The requirement to provide notice will in no event prevent the Association from initiating an action with the appropriate court to obtain a temporary injunction or to eliminate the right to a hearing if a same or similar violation has occurred within 6 months of the current violation. If the Owner fails or refuses to cure the violation on or before the time period specified in the notice provided by the Association, the Owner will be required to increase the Compliance Deposit by an amount reasonably determined by the Association to discharge fines and penalties or repair the property damage identified in the notice. The additional Compliance Deposit required by the previous sentence will be returned to t...
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Compliance Deposit. The Compliance Deposit is paid to the Association as security against violation of the Restrictions, the Construction Rules, or any damage caused to the Association’s common areas, streets, or other property in the Development. The ADC or the Association may increase the Compliance Deposit in the event the ADC or the Association determine that the amount is insufficient to secure compliance with the Restrictions or the Construction Rules, or to protect the Development from damage caused or occasioned by construction of the proposed improvements. The determination to increase the Compliance Deposit may be based on prior violations by the Homeowner of the Restrictions, any other rules promulgated by the Association or the ADC, the experience or lack of experience of the Homeowner within the Development, or the nature of the construction methods associated with the proposed improvements. In the event the ADC or the Association determines that the Homeowner has violated the Restrictions, the Construction Rules, or has otherwise caused damage to the Association’s common areas, streets, or other property in the Development, the ADC from time to time, and without prejudice to any other remedy, may use the Compliance Deposit to discharge any fines or penalties imposed by the Association or the ADC as a result of such violation, or repair any damage caused to the Association’s common areas, streets, or other property in the Development. If the balance of the Compliance Deposit reaches $500 or less as a result of such application, the Homeowner, upon request of the Association, shall immediately cease all work on the property and deposit the amount necessary to restore the original balance of the Compliance Deposit. Upon completion of the proposed improvements and a final ADC inspection, the Compliance Deposit or any balance remaining will be refunded upon request of the Homeowner. No interest shall be payable upon the Compliance Deposit.
Sample 1
Compliance Deposit. Buyer hereby acknowledges and agrees that Buyer shall submit the sum of two thousand five hundred dollars and 00/100 ($2,500.00) to Seller with Buyer’s Application for Review (the “Compliance Deposit”), which amount shall be held by Seller until such time as Buyer has obtained plan approval and fully complied with the Declaration of Community Covenants and the Architectural Review Standards, including completion of landscape and drainage plan as approved (collectively hereinafter referred to as the “Building Requirements”). The Compliance Deposit shall be held by Seller in a non-interest bearing Escrow Account for the benefit of Seller until such time as the construction of the house, lot improvements and landscaping have been sufficiently completed to evidence full compliance with the Building Requirements. Seller shall return the Compliance Deposit at such time as Seller is reasonably certain the Buyer will or has fully complied with the Building Requirements or Seller may retain the Compliance Deposit or assign the same to the Homeowners Association to be used to enforce the terms and conditions of the Building Requirements or otherwise.
Sample 1
Compliance Deposit. On or before the applicable Closing Date, the Purchaser shall pay to the Developer a $5,000.00 Compliance Deposit in order to secure and guarantee the performance by the Purchaser of its covenants hereunder, including without restricting the generality of the foregoing:
Sample 1
Compliance Deposit. The Compliance Deposit is paid to the Association as security against violation of the Restrictions, the Construction Rules, or any damage caused to the Association’s common areas, streets, or other property in the Development. The ACC or the Association may increase the Compliance Deposit in the event the ACC or the Association determine that the amount is insufficient to secure compliance with the Restrictions or the Construction Rules, or to protect the Development from damage caused or occasioned by construction of the proposed improvements. The determination to increase the Compliance Deposit may be based on prior violations by the Builder of the Restrictions, any other rules promulgated by the Association or the ACC, the experience or lack of experience of the Builder within the Development, or the nature of the construction methods associated with the proposed improvements. In the event the ACC or the Association determines that the Builder has violated the Restrictions, the Construction Rules, or has otherwise caused damage to the Association’s common areas, streets, or other property in the Development, the ACC from time to time, and without prejudice to any other remedy, may use the Compliance Deposit to discharge any fines or penalties imposed by the Association or the ACC as a result of such violation, or repair any damage caused to the Association’s common areas, streets, or other property in the Development. If the balance of the Compliance Deposit reaches $500 or less as a result of such application, the Builder, upon request of the Association, shall immediately deposit the amount necessary to restore the original balance of the Compliance Deposit. Upon completion of the proposed improvements and a final ACC inspection, the Compliance Deposit or any balance remaining will be refunded upon request of the Builder. No interest shall be payable upon the Compliance Deposit. The ACC will grant the final approval of the completed landscaping project before the Builder’s Compliance Deposit is approved an may at that time require additional, more dense, or larger plant material in order to achieve the final desired aesthetic appearance. In all instances, the Restrictions, the Construction Rules for each neighborhood will be followed. Landscape Standards: Aesthetic appearance of the landscape includes, but is not limited to: - Plant material of reasonable number, size and density depending on species and location in the landscape, to ensure a finishe...
Sample 1
Compliance Deposit. A Compliance Deposit in the following amounts shall be paid prior to the commencement of work: New Construction: $2,500 to $5,000 (See Schedule A for details) Additions/Remodeling: $1,500 to $3,000 (See Schedule A for details) Subsequent Improvements: $750.00 Owner or Builder has remitted payment in the amount of $ which VRPOA- ACC hereby acknowledges receipt. The Compliance Deposit is required to insure Owner and Builder adhere to the Rules of Construction and fully and faithfully construct the Improvements in strict compliance with the approved plans, specifications and/or schematic design, the CC&Rs and all applicable federal, state and county laws, rules, codes and regulations applicable to construction of the Improvements. Violation of the Rules of Construction shall result in charges against the Compliance Deposit in accordance with the amounts stated in Schedule A, attached hereto and incorporated
Sample 1
Compliance Deposit. Include a separate check for $25. This check will be refunded if booth area is left clean and if booth is staffed/opened for the duration of the show as listed in #4 above. Failure to comply will result in a forfeiture of this deposit.
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Compliance Deposit 
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