After Final Acceptance as a condition to release of the Performance and Payment Bonds, and subject to the requirements herein, DB Contractor shall provide a warranty bond naming TxDOT and the Authority, as their interests may appear, as obligees which shall guarantee performance of the Work required to be performed during the Warranty Term for all Warranties and which shall also constitute a payment bond guaranteeing payment to Persons performing such Work (“Warranty Bond”). The Warranty Bond shall be in an amount equal to 20% of the Price and shall be in the form attached hereto as Exhibit 12-A and shall include a dual obligee rider whereby the Authority is named as an additional obligee in the form attached hereto as Exhibit 12-B. The Warranty Bond shall be released upon expiration of the Warranty Term and issuance by TxDOT of a Certificate of Final Warranty Acceptance.
After Final Acceptance as a condition to release of the Performance and Payment Bonds, and subject to the requirements herein, DB Contractor shall provide a warranty bond naming TxDOT and the Authority, as their interests may appear, as obligees which shall guarantee performance of the Work required to be performed during the Warranty Term for all Warranties and which shall also constitute a payment bond guaranteeing payment to Persons performing such Work (“Warranty Bond”). The Warranty Bond shall be in an amount equal to 20% of the Price and shall be in the form attached hereto as Exhibit 12. The Warranty Bond shall be released upon expiration of the Warranty Term and issuance by TxDOT of a Certificate of Final Warranty Acceptance.
After Final Acceptance of the Project and subject to the requirements herein, including Section 3.4.3, DB Contractor may obtain a reduction of the Performance Bond by providing a warranty bond which shall guarantee performance of the Work required to be performed during the Warranty Term, as subject to extension under Section 3.8.2, and which shall also constitute a payment bond guaranteeing payment to Persons performing such Work (the “Warranty Bond”). The Warranty Bond shall be in an amount of the “Bonded Sum” equal to 20% of the Price and shall be in the form attached as Exhibit 4, Appendix 1 to the Design-Build Agreement. Upon Final Acceptance of the Project, DB Contractor may obtain a release of the Performance and Payment Bonds, subject to the requirements of Section 3.4.3 and Section 3.4.4 and provided that TxDOT has received the Warranty Bond in accordance with this Section 3.4.7. The Warranty Bond shall be released upon expiration of the Warranty Term, as subject to extension under Section 3.8.2, and
After Final Acceptance. A.12.2.2.1 In addition to the Design-Builder’s obligations under Section A.3.6, if, within one year after the date of Final Acceptance or after the date for commencement of warranties established under Section A.9.10 or by terms of an applicable special warranty required by the Design-Build Documents, any of the Work is found to be not in accordance with the requirements of the Design-Build Documents, the Design-Builder shall correct if promptly after receipt of written notice from the Owner to so unless the Owner has previously given the Design-Builder a written acceptance of such condition. The Owner shall give such notice promptly after discovery of the condition. During the one- year period for correction of Work, if the Owner fails to notify the Design-Builder and give the Design- Builder an opportunity to make the correction, the Owner waives the rights to require correction by the Design-Builder and to make a claim for breach of warranty. If the Design-Builder fails to correct non- conforming Work within a reasonable time during that period after receipt of notice from the Owner, the Owner may correct it in accordance with Section A.2.5. § A.12.2.2.2 The one-year period for correction of Work shall be extended with respect to portions of Work first performed after commencement of warranty by the period of time between commencement of warranty and acceptance of the corrected Work.
After Final Acceptance as a condition to release of the Performance and Payment Bonds, and subject to the requirements herein, DB Contractor shall provide a warranty bond naming TxDOT and the Authority, as their interests may appear, as obligees which shall guarantee performance of the Work required to be performed during the Warranty Term for all Warranties and which shall also constitute a payment bond guaranteeing payment to Persons performing such Work (“Warranty Bond”). The Warranty Bond shall be in an amount equal to 20% of the Price and shall be in the form attached hereto as Exhibit 12-A and shall include a dual obligee rider whereby the Authority is named as an additional obligee in the form attached hereto as Exhibit 12-
After Final Acceptance the City shall have the right to determine when and if repairs and restorations to the Artwork will be made. During Xxxxxx Xxxxx’x lifetime, to the extent practical, the City shall give Artist (i.e., Xxxxx and Pulitzer Studios, Inc.) notice of any intended repairs or restorations and the opportunity to make or approve all repairs and restorations; provided, however, that Artist shall not unreasonably withhold approval for any repair or restoration of the Artwork. If, within ninety (90) days, Artist does not respond to the City’s reasonable attempts to give Artist the opportunity to make or approve any repair or restoration, or if Artist unreasonably fails to approve any repair or restoration, the City shall have the right to make such repair or restoration. To the extent practical, Artist shall be given the opportunity to make or personally supervise significant (as determined by the City) repairs or restoration and shall be paid a reasonable fee for any such services, provided that the City and Artist agree in writing, prior to commencement of any significant repairs or restoration, upon Artist’s fee for such services. If no agreement is reached as to Artist’s fee for such repairs or restoration, then the City may make repairs, restoration or other arrangements the City deems appropriate for the Artwork.
