Failure to Complete Improvements. If the Developer fails to complete construction of the Improvements, including submittal of the final acceptance package, by the Construction Completion Deadline, the City may make demand upon the contractor’s bonds in order to obtain payment for completing the Improvements and/or the City may place a hold on the Certificate of Occupancy on the building related to the project. If the cost of completing the Improvements exceeds the amount of the bonds, the City may proceed against the Developer for the balance of the completion costs and for any costs or damages incurred by the City as a result of Developer's failure to perform according to the terms of this Agreement.
Failure to Complete Improvements. Trustee and Beneficiary hereby agree that in the event that the required improvements are not completed within the time period provided by paragraph 7, the County may replat that portion of the property described in paragraph 1 for which a release of assurances has not been given. The purpose of the new plat will be to abandon the subdivision and return the property to approximately the same boundary configurations of record as existed before the subdivision plat was recorded. Prior to initiating any action to replat, the County shall provide Trustee and Beneficiary with thirty (30) days written notice of the intent to replat. The County, by this Agreement, is expressly authorized to replat this property after the required notice has been provided. All expenses by the County, including legal costs if applicable, in executing a replat shall be paid for by Beneficiary, and shall, if unpaid, become a lien on the property.
Failure to Complete Improvements. If the Lessee fails to complete the required construction within the time allowed under (b)(1) of this Article, including any extensions granted, the City will execute against and the Lessee will forfeit, any bond or other guarantee given by the Lessee and, as applicable, City will:
a. initiate cancellation of the lease; or
b. reduce the term of the lease to a period that is consistent with the portion of the required construction timely completed.
Failure to Complete Improvements. If Grantee fails to make the Improvements by the Completion Date, or if the Completion Date does not occur by the Completion Deadline, the City shall have the right to terminate this Agreement by providing written notice to Grantee without further obligation to Grantee hereunder.
Failure to Complete Improvements. It is further understood and agreed by and between the parties to this Agreement that, in the event Improvements are not constructed within twelve (12) months from the date of the recording of the above referenced plat, the County shall have and is hereby granted the right to cause the Improvements to be made and to use the security provided herewith for payment of all costs and expenses incurred in the construction thereof, including but not limited to, engineering, surveying, construction, legal and contingent costs. Furthermore, it is agreed by the parties hereto that County shall be reimbursed from the security provided for any damages, either direct or consequential, which the County may sustain as a result of the failure of Developer to carry out and execute all of the provisions of this Agreement and the provisions of the LDC. In the event of Developer's failure or refusal to construct and install the Improvements in accordance with the terms of this Agreement, the County shall have the option to do so, with County employees and equipment, or pursuant to public advertisement and receipt of bids. In the event that the total costs incurred in construction and full completion of the improvements shall exceed the amount of security provided, such additional costs shall be paid by Developer on written demand by the County Engineer.
Failure to Complete Improvements. The obligations and rights of the Developer to construct, install and complete the required Improvements indicated on the approved Site Plan and provide for their maintenance shall not cease until the Developer shall be finally released by the City Engineer, nor shall any deposit agreements or obligations hereunder be assignable or transferable by Developer. Furthermore, in the event of a default, abandonment, or failure of the Developer to timely complete the Improvements, no other person, firm, entity shall acquire (whether by contract, judicial foreclosure or other means) any rights to any remaining Deposits or deposit agreements of the Developer without entering into a new, separate deposit agreement with the City. If, after the initial Improvement completion period or after a later period as extended pursuant to this Agreement, the Improvements indicated on the approved Site Plan are not constructed, installed, completed, maintained and accepted as required, or if the Developer shall violate any provision of this Agreement, the City Engineer may notify the Developer to show cause, within not less than ten (10) days, why the Developer should not be declared in default. Unless good cause is shown, no building or other permit shall be issued to the Developer for the Site during any period in which the Developer is in violation of this Agreement or Sections 405.570-405.705 of the St. Xxxxxx City Code relating to the Site. If the Developer fails to cure any default or present compelling reasons in the opinion of the City Engineer why no default should be declared, the City Engineer shall declare the Developer in default and may take any one (1) or more of the following acts:
(a) Deem the balance of the Construction Deposit under this Agreement, not theretofore released, as forfeited to the City, to be then placed in an appropriate trust account subject to the order of the City Engineer for such purposes as letting contracts to bring about the completion of the Improvements required on the approved Site Plan or other appropriate purposes in the interest of the public safety, health and welfare; and
(b) Require the Developer to submit an additional sum sufficient to guarantee the completion of the Improvements indicated on the approved Site Plan after recalculation in order to allow for any inflated or increased costs of constructing or maintaining the Improvements. Anything to the contrary contained in this Agreement notwithstanding, the failure of the Deve...
Failure to Complete Improvements. In the event that Borrower fails to complete the Improvements at the end of nine months from the date of the execution of the Note, Lender may place any funds due under the Note and not previously drawn by Borrower pursuant to the Construction Loan in an escrow account with Lender to be disbursed by Lender as and when the Improvements are completed. In such an event, the Conversion Date shall not be extended and interest on the Note shall accrue as set forth therein from and after the Conversion Date.
Failure to Complete Improvements. In all subdivisions in required improvements have not been installed within the period specified by the Planning Commission in the resolution ap proving the plat, the Planning Commission thereupon may declare the surety instrument to be in default and require that all the improvements be installed regardless of the extent of the building development at the time the surety instrument is declared to be in default.
Failure to Complete Improvements. Except as allowed under Section 15.1 of the Development Agreement for force majeure events, failure by BCOI and Developer to complete the construction of the Improvements and obtain a certificate of occupancy or other final governmental approval of the Improvements for their intended use on or before the Project Completion Date, or the cessation of work on the construction of the Improvements for any period of thirty (30) consecutive days.
Failure to Complete Improvements. In the event SUBDIVIDER has not completed the specified work and improvements within the period of time allowed by this agreement, SUBDIVIDER not proceed with such work and improvements unless and until approval to do so is obtained the COUNTY. Under normal circumstances, if it is not found to be contrary to the public interest, the COUNTY will allow renewals of this agreement, provided that all applicable requirements are met by SUBDIVIDER. The COUNTY reserves the right, upon each renewal, to increase the security amounts to reflect fluctuations in material and labor prices. It is understood that in the event the SUBDIVIDER fails to complete the work and improvements within the specified period of time that the COUNTY may proceed against the Performance Security, to obtain completion of such work and improvements, or may initiate proceedings to revert the subdivided property to acreage pursuant to the provisions of Sections et. seq. of the Santa Xxxx County Code.
