Common use of DATE OF COMPLETION Clause in Contracts

DATE OF COMPLETION. a. Developer shall complete all of the Dedicated Improvements on or before _. In the event that the Dedicated Improvements are not completed by such date, or in the event that Developer is otherwise in default of this Agreement, then any undrawn funds remaining under the Financial Security shall, upon draw by Township, be paid to Township. Upon such payment, such funds shall be used and applied by Township for the purposes of paying the cost of completing the Dedicated Improvements and for such other costs as are described herein. In completing said Dedicated Improvements, Township may, at its option, have such Dedicated Improvements completed by Developer or by independent contractors or by Township employees or by any combination of the foregoing, as Township may elect. b. The Dedicated Improvements shall not be deemed to be completed until Township accepts by resolution the Certificate of Final Completion issued by the Township Engineer certifying that the Dedicated Improvements have been satisfactorily completed in accordance with the terms of this Agreement. This Certificate of Final Completion shall be signed by Developer, the Township Engineer, and the Township Secretary. c. In the event that Developer requires more than ___________ year(s) to complete the required Dedicated Improvements, the Township may adjust the amount of Financial Security by comparing the actual cost of the Dedicated Improvements which may have been completed and the estimated cost for the completion of the remaining Dedicated Improvements as of the expiration of the ninetieth (90th) day after the date scheduled for completion of the Dedicated Improvements. Developer shall provide additional Financial Security, if necessary, in order that the posted Financial Security shall equal one hundred ten (110%) percent of the cost of completing the required Dedicated Improvements as reestablished at that time.

DATE OF COMPLETION. a. A. Developer shall complete all of the Dedicated Township Improvements on or before _, 20 . In the event that the Dedicated Township Improvements are not completed by such date, or in the event that Developer is otherwise in default of this Agreement, then any undrawn funds remaining under the Financial Security shall, upon draw by Township, be paid to Township. Upon such payment, such funds shall be used and applied by Township for the purposes of paying the cost of completing the Dedicated Township Improvements and for such other costs as are described herein. In completing said Dedicated Township Improvements, Township may, at its option, have such Dedicated Township Improvements completed by Developer or by independent contractors or by Township employees or by any combination of the foregoing, as Township may elect. b. B. The Dedicated Township Improvements shall not be deemed to be completed until Township accepts by resolution the Certificate of Final Completion issued by the Township Engineer certifying that the Dedicated Township Improvements have been satisfactorily completed in accordance with the terms of this Agreement. This Certificate of Final Completion shall be signed by Developer, the Township Engineer, Engineer and the Township Secretary. c. C. In the event that Developer requires more than ___________ year(sone (1) year to complete the required Dedicated Township Improvements, the Township may adjust the amount of Financial Security by comparing the actual cost of the Dedicated Township Improvements which may have been completed and the estimated cost for the completion of the remaining Dedicated Township Improvements as of the expiration of the ninetieth (90th) day after the date scheduled for completion of the Dedicated Township Improvements. Developer shall provide additional Financial Security, if necessary, in order that the posted Financial Security shall equal one hundred ten (110%) percent of the cost of completing the required Dedicated Township Improvements as reestablished at that time.

DATE OF COMPLETION. a. Developer shall complete all of the Dedicated Improvements on or before ___ _. In the event that the Dedicated Improvements are not completed by such date, or in the event that Developer is otherwise in default of this Agreement, then any undrawn funds remaining under the Financial Security shall, upon draw by Township, be paid to Township. Upon such payment, such funds shall be used and applied by Township for the purposes of paying the cost of completing the Dedicated Improvements and for such other costs as are described herein. In completing said Dedicated Improvements, Township may, at its option, have such Dedicated Improvements completed by Developer or by independent contractors or by Township employees or by any combination of the foregoing, as Township may elect. b. The Dedicated Improvements shall not be deemed to be completed until Township accepts by resolution the Certificate of Final Completion issued by the Township Engineer certifying that the Dedicated Improvements have been satisfactorily completed in accordance with the terms of this Agreement. This Certificate of Final Completion shall be signed by Developer, the Township Engineer, and the Township Secretary. c. In the event that Developer requires more than ___________ year(s) to complete the required Dedicated Improvements, the Township may adjust the amount of Financial Security by comparing the actual cost of the Dedicated Improvements which may have been completed and the estimated cost for the completion of the remaining Dedicated Improvements as of the expiration of the ninetieth (90th) day after the date scheduled for completion of the Dedicated Improvements. Developer shall provide additional Financial Security, if necessary, in order that the posted Financial Security shall equal one hundred ten (110%) percent of the cost of completing the required Dedicated Improvements as reestablished at that time.

DATE OF COMPLETION. a. A. Developer shall complete all of the Dedicated Improvements on or before _. In the event that the Dedicated Improvements are not completed by such date, or in the event that Developer is otherwise in default of this Agreement, then any undrawn funds remaining under the Financial Security shall, upon draw by Township, be paid to Township. Upon such payment, such funds shall be used and applied by Township for the purposes Purposes of paying the cost of completing the Dedicated Improvements and for such other costs as are described herein. In completing said Dedicated Improvements, Township may, at its option, have such Dedicated Improvements completed by Developer or by independent contractors or by Township employees or by any combination of the foregoing, as Township may elect. b. B. The Dedicated Improvements shall not be deemed to be completed until Township accepts by resolution the Certificate of Final Completion issued by the Township Engineer representative certifying that the Dedicated Improvements have been satisfactorily completed in accordance with the terms of this Agreement. This Certificate of Final Completion shall be signed by Developer, the Township Engineer, Representative and the Township Secretary. c. C. In the event that Developer requires more than ___________ year(sone (1) year to complete the required Dedicated Improvements, the Township may adjust the amount of Financial Security by comparing the actual cost of the Dedicated Improvements which may have been completed and the estimated cost for the completion of the remaining Dedicated Improvements as of the expiration of the ninetieth (90th90) day after the date scheduled for completion of the Dedicated Improvements. Developer shall provide additional Financial Security, if necessary, in order that the posted Financial Security shall equal one hundred ten (110%) percent of the cost of completing the required Dedicated Improvements improvements as reestablished at that time.

DATE OF COMPLETION. a. A. Developer shall complete all of the Dedicated Township Improvements on or before _, 20 . In the event that the Dedicated Township Improvements are not completed by such date, or in the event that Developer is otherwise in default of this Agreement, then any undrawn funds remaining under the Financial Security shall, upon draw by Township, be paid to Township. Upon such payment, such funds shall be used and applied by Township for the purposes of paying the cost of completing the Dedicated Township Improvements and for such other costs as are described herein. In completing said Dedicated Township Improvements, Township may, at its option, have such Dedicated Township Improvements completed by Developer or by independent contractors or by Township employees or by any combination of the foregoing, as Township may elect. b. B. The Dedicated Township Improvements shall not be deemed to be completed until Township accepts by resolution the Certificate of Final Completion issued by the Township Engineer certifying that the Dedicated Township Improvements have been satisfactorily completed in accordance with the terms of this Agreement. This Certificate of Final Completion shall be signed by Developer, the Township Engineer, and the Township Secretary. c. C. In the event that Developer requires more than ___________ year(sone (1) year to complete the required Dedicated Township Improvements, the Township may adjust the amount of Financial Security by comparing the actual cost of the Dedicated Township Improvements which may have been completed and the estimated cost for the completion of the remaining Dedicated Township Improvements as of the expiration of the ninetieth (90th) day after the date scheduled for completion of the Dedicated Township Improvements. Developer shall provide additional Financial Security, if necessary, in order that the posted Financial Security shall equal one hundred ten (110%) percent of the cost of completing the required Dedicated Township Improvements as reestablished at that time.