Security for Public Improvements. The Developer shall provide, at the time of final plat to the Town, a Performance Security instrument in the amount which sum represents and totals to one hundred and ten percent (110%) of the estimated cost of all approved public improvements.
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. The completion of all improvements shall be subject to collateral requirements established by the Town using forms for surety approved by the Town as per municipal codes 11.02.130 Guarantee Of Completion Of Improvements; Form Of Surety; Release Of Funds and 11.02.140 Warranty Of Completed Improvements, and in compliance with State law.
Security for Public Improvements. Redevelopers shall furnish or cause to be furnished to the City prior to commencement of construction of the Streetscape Improvements a guarantee for the construction in the amount of the contract sum for the improvements. The following shall be the four forms of acceptable guarantees:
Security for Public Improvements. The completion of all improvements shall be subject to collateral requirements established by the City using forms for surety approved by the City, in compliance with State law. Any such security shall be, at the Developer’s request, partially released pro rata as work proceeds, to a maximum of ninety percent (90%). Upon Substantial Completion of the On-Site or Off-Site Infrastructure, as certified by the Developer’s engineers, the remainder of such security, except ten percent (10%) as security for a one (1) year warranty against defects in materials and workmanship, shall be released. At the end of the one (1) year warranty, unless the Developer has been notified by the City of any repairs required under the warranty, the remaining security shall be released to the Developer upon the City’s determination that there are no further warranty repairs required. Unless otherwise required in a subsequent development Agreement, no security shall be required for any improvements that are not designated to be dedicated to the City, nor for any improvements that are constructed by a public or quasi-public entity.
Security for Public Improvements. Upon the Village’s approval of a Final Development Plan for a Neighborhood, Owner shall post letters of credit or bonds as its surety for public improvements in the amount of 125% of Engineer’s Cost Estimate (the “Construction Security”). As public improvements are completed by the Owner, the Construction Security posted for the completed improvements shall be reduced and released by the Village but such reductions shall not reduce the Construction Security to an amount which is less than 10% of the original amount. Upon acceptance of the improvements by the Village, Owner shall post letters of credit or bonds for its maintenance obligation for such accepted public improvements in the amount of 10% of the Construction Security posted for the accepted public improvements (the “Maintenance Security”) as required under § 7-2-4 of the Village Code, to cover defects in labor and materials but not items of general and ordinary maintenance, and the Construction Security shall be released. The Maintenance Security shall be released and returned to Owner when the one-year maintenance period for the applicable public improvement has been satisfied and ends. Except as may be required by Xxxx County ordinances, mass grading improvements as shown on the Grading Plans shall not require the posting of Maintenance Security.
Security for Public Improvements. Provide an irrevocable letter of credit or other security in a form approved by the Town Attorney, guaranteeing construction of and payment for all public improvements. The amount of the security must be 125% of the estimated cost as approved by the Town Engineer for constructing all public improvements, unless otherwise provided in the SIA. □ □ Deed for public lands Submit to the Town Clerk a warranty deed and title insurance for all lands dedicated to the Town on the final plat and accepted by the Town. □ Record Final Plat Upon completion of all prior steps, Town Clerk shall record 1 original mylar of the plat in the office of the Larimer County Clerk and Recorder. □
