Improvement Guarantee. The Developer guarantees all Improvements against defects which appear within a period of one year from the date of acceptance of the dedication by the City as herein provided.
Improvement Guarantee. A. Public Improvement and Common Facilities Schedule Owner has submitted the certified Public Improvement and Common Facilities Schedule shown as “Exhibit B” attached hereto and incorporated herein by reference. Said exhibit generally identifies those Public Improvements to be furnished, installed or constructed relative to the Development. Omission of any improvement from “Exhibit B” does not relieve Owner from responsibility for furnishing, installing or constructing such improvement. The Owner shall list all Common Facilities separately and subtotal separately on “Exhibit B.”
Improvement Guarantee. The Developer guarantees all Improvements against defects which appear withina period of one (1) year from the date of acceptance by the Village as herein provided and shall pay for any damages resulting therefrom to Village property within one year of acceptance. If any defect appears during the guarantee period, the Developer shall upon written notice and, at its expense, install replacements or perform repairs to the standard specified in the approved plans and specifications. The Developer shall have thirty (30) days from the issuance of such notice (or such longer period as may be acceptable to the Village Engineer or as may be allowed by the Village due to weather or climatic conditions) to cure the defect. The Village shall not declare a default under this Agreement during the 30-day cure period or applicable longer period for any defect unless it is clear to the Village that the Developer does not intend to cure the defect, or unless the Village determines that immediate action is required in order to remedy a situation which poses an imminent health or safety threat. All guarantees or warranties for materials or workmanship which extend beyond the above guarantee period shall be assigned by the Developer to the Village (as beneficiary). Unless defects have appeared and have not been repaired, the Village will release the surety to the Developer upon expiration of the one
Improvement Guarantee. In order to guarantee that necessary Access Tract Improvements shall occur, the Applicants shall be required to either: a) post a nonrevocable bond or other acceptable form of collateral in a form acceptable to the Town in an amount equal to one hundred and twenty percent (120%) of the estimated costs to complete the Access Tract Improvements relating to the road improvements on Access Tract 24-B and Access Tract F-37A; or, b) deposit into escrow with a financial institution agreed upon by the parties, an amount equal to one hundred and twenty percent (120%) of the costs for Access Tract Improvements which shall be released upon completion of the Access Tract Improvements, with completion determined at the reasonable discretion of Town. Either of the above options shall be required prior to the issuance of a development permit for the Access Tract Improvements. The Town shall be granted access to such collateral fund if the Access Tract Improvements once initiated are not completed within twelve months of the commencement of construction of the Access Tract Improvements, or such other mutually agreeable date between the parties.
Improvement Guarantee. For each Phase of the Development, the Developer shall guarantee all Dedicated Improvements against defects which appear within a period of two (2) years from the date of acceptance of said Dedicated Improvements by the City as herein provided, and shall pay for any damages resulting therefrom to City property. Prior to recording of the Master Plat, Phasing Plat or other plat or survey, the Developer shall provide the City with evidence reasonably acceptable to the City showing that the Developer has full right and authority to make the agreements, warranties, consents and waivers set forth in this Agreement, and that upon recording the City will have good, indefeasible title to all interests in land dedicated or conveyed to the City, if any, pursuant to the Development Plan Concept.
Improvement Guarantee
