Common use of Maintenance and Warranties Clause in Contracts

Maintenance and Warranties. The Owner shall maintain or cause to be maintained each Discrete Component in good and safe condition until the Acceptance Date of the Facility of which such Discrete Component is a part. Prior to the Acceptance Date, the Owner shall be responsible for performing any required maintenance on any completed Discrete Component or Facility. On or before the Acceptance Date of the Facility, the Owner shall assign to the City all of the Owner’s rights in any warranties, guarantees, maintenance obligations or other evidence of contingent obligations of third persons with respect to such Facility. For each Facility to be owned by the City, the Owner shall provide a warranty bond reasonably acceptable in form and substance to the Director to remain in effect for a period of one year from the date of acceptance of each Facility. The City shall be responsible for maintenance of each Facility from and after the Acceptance Date thereof, except that with respect to landscaping improvements, the Owner shall maintain or cause to be maintained such landscape improvements for a period of one year following the Acceptance Date thereof or shall provide a bond reasonably acceptable in form and substance to the Director for such period and for such purpose (for landscaping improvements only, and for the posting of a warranty bond to remain in effect for one year as to other Facilities), to insure that defects, which appear within said period will be repaired, replaced, or corrected by the Owner, at its own cost and expense, to the satisfaction of the Director. The Owner shall commence to repair, replace or correct any such defects within thirty (30) days after written notice thereof by the City to the Owner, and shall complete such repairs, replacement or correction as soon as practicable. Any warranties, guarantees or other evidences of contingent obligations of third persons with respect to the Facilities to be acquired by the City shall be delivered to the Director as part of the transfer of title.

Maintenance and Warranties. The Owner Developer shall maintain or cause to be maintained each Discrete Component the Properties in good and safe condition until the Acceptance Date of for the Facility of which such Discrete Component is a partProperty in question. Prior to the Acceptance Date, the Owner Developer shall be responsible for performing any required maintenance on any completed Discrete Component or Facilitymaintenance. On or before the Acceptance Date of the Facility, the Owner Developer shall assign to the City all of the OwnerDeveloper’s rights in any warranties, guarantees, maintenance obligations or other evidence of contingent obligations of third persons with respect to such FacilityProperty. For each Facility Property to be owned by the City, the Owner Developer shall provide a warranty bond reasonably acceptable in form and substance to the Director to remain in effect for a period of one year from the date of acceptance of each FacilityProperty. The City shall be responsible for maintenance of each Facility Property from and after the Acceptance Date thereof, except that with respect to landscaping improvements, the Owner Developer shall maintain or cause to be maintained such landscape improvements for a period of one year following the Acceptance Date thereof or shall provide a bond reasonably acceptable in form and substance to the Director for such period and for such purpose (for landscaping improvements only, and for the posting of a warranty bond to remain in effect for one year as to other Facilitiesimprovements), to insure that defects, which appear within said period will be repaired, replaced, or corrected by the OwnerDeveloper, at its own cost and expense, to the satisfaction of the DirectorCity. The Owner Developer shall commence to repair, replace or correct any such defects within thirty (30) days after written notice thereof by the City to the OwnerDeveloper, and shall complete such repairs, replacement or correction as soon as practicable. Any warranties, guarantees or other evidences of contingent obligations of third persons with respect to the Facilities Properties to be acquired by the City shall be delivered to the Director as part of the transfer of title.