Financial Assurances for East Area Water Line Sample Clauses

Financial Assurances for East Area Water Line. Owner shall, at the time of issuance of construction permit related to the construction of the water line connections described in Section 4.5, secure the estimated costs to construct a water line and connections thereto, as approved by Arizona Water Company and as described in Section 4.5., by posting of a financial security such as a surety bond, irrevocable letter of credit, or other means acceptable to the City; provided, however, that Owner can comply with this Section without additional financial assurance if it can show that proper financial assurance and / or contractual obligation has been posted with Arizona Water Company and that Arizona Water Company has agreed to construct said water line and connections in the event that Owner does not complete said construction .
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