Developer to provide Guarantee. (a) The Developer has agreed to provide security to the City for the performance of the Developer’s obligations under this document by providing the Guarantee to the City. (b) The Developer must provide the Guarantee to the City on the date that the Developer signs this document. (c) The City is entitled to retain the Guarantee from the date of this document until the Due Date. (d) The Developer expressly acknowledges and agrees that the City may make an appropriation from the Guarantee in such amount as the City (acting reasonably) thinks appropriate if the City, in exercising its powers under this document consequent upon a breach by the Developer of its obligation under this document, incurs expense or liability.
Appears in 4 contracts
Samples: Planning Agreement, Planning Agreement, Planning Agreement
Developer to provide Guarantee.
(a) The Developer has agreed to provide security to the City for the performance of the Developer’s obligations under this document by providing the Guarantee to the City.
(b) The Developer must provide the Guarantee to the City on the date that the Developer signs this document.
(c) The City is entitled to retain the Guarantee from the date of this document until the Due Date.Date.
(d) The Developer expressly acknowledges and agrees that the City may make an appropriation from the Guarantee in such amount as the City (acting reasonably) thinks appropriate if the City, in exercising its powers under this document consequent upon a breach by the Developer of its obligation under this document, incurs expense or liability.
Appears in 1 contract
Samples: Planning Agreement
