Amount and Form. To secure the construction and installation of the Improvements, Developer shall provide a financial guarantee in the form of a letter of credit in an amount equal to 110% of the total Improvement cost for each Phase (each, an “Improvement Guarantee”). Each Improvement Guarantee shall be evidenced by a “Performance Agreement” to be entered into between Town and Developer.
Appears in 6 contracts
Samples: Development Agreement, Proposed Terms Goodall Homes, Proposed Terms Goodall Homes
Amount and Form. To secure the construction and installation of the Improvements, Developer shall provide a financial guarantee in the form of a performance bond or letter of credit in an amount equal to 110100% of the total Improvement cost for each Phase (each, an “Improvement Guarantee”). Each Improvement Guarantee shall be evidenced by a “Performance Agreement” to be entered into between Town and Developer.
Appears in 1 contract
Samples: Development Agreement
