Common use of BUILDING DEPOSIT Clause in Contracts

BUILDING DEPOSIT. The OWNER shall pay to the WBHOA a cash deposit in the amount of 2% of the value of the builder’s contract subject to a minimum deposit of R 20 000 and a maximum deposit of R 50 000 which shall constitute a security deposit for damage of whatever nature, including but not limited to, damage to roads, xxxxx, trees, vegetation, landscaping, private or public spaces, which may be caused by the CONTRACTOR, employees, sub-CONTRACTORs and suppliers, to any part of the ESTATE.

BUILDING DEPOSIT. The OWNER shall pay to the WBHOA a cash deposit in the amount of 2% of the value of the builder’s contract subject to a minimum deposit of R 20 000 and a maximum deposit of R 50 000 which shall constitute a security deposit for damage of whatever nature, including but not limited to, damage to roads, xxxxx, trees, vegetation, landscaping, private or public spaces, which may be caused by the CONTRACTOR, employees, sub-sub- CONTRACTORs and suppliers, to any part of the ESTATE.

BUILDING DEPOSIT. The OWNER shall pay to the WBHOA a cash deposit or a bank/insurance guarantee in the amount of 2% of the value of the builder’s contract subject to a minimum deposit deposit/guarantee of R 20 000 and a maximum deposit deposit/guarantee of R 50 000 which shall constitute a security deposit for damage of whatever nature, including but not limited to, damage to roads, xxxxx, trees, vegetation, landscaping, private or public spaces, which may be caused by the CONTRACTOR, employees, sub-CONTRACTORs and suppliers, to any part of the ESTATE.