Maintenance Bond Required Sample Clauses

Maintenance Bond Required. Prior to final acceptance by DCWA, Developer shall provide DCWA with a Maintenance Bond (cash or surety) as a guarantee of Developer’s performance to replace or repair any and all deficiencies or failures that occur during the Warranty Period. The Bond shall be on the DCWA’s standard form and shall guarantee Developer and/or the bonding company will correct the deficiencies or failures that arise in the Extension(s) within the Warranty Period. All deficiencies or failures corrected shall extend the Warranty Period for the corrected item(s) for two (2) years, unless otherwise directed by the DCWA, from the date of acceptance of the repairs by DCWA. The expiration date of the Maintenance Bond shall be a minimum of four (4) years after the date of final acceptance of the Project to allow for necessary extensions. If subsequent deficiencies or failures of corrected items occur that will result in the Warranty Period extending beyond the four-year expiration period, a separate bond will be required. Upon completion of the Warranty Period, or extended maintenance period if required, with no failures noted, DCWA will release the Bond in writing. A precondition of DCWA’s release of the Maintenance Bond shall be payment by Developer of all outstanding expenses incurred by DCWA. The amount of the Maintenance Bond shall be determined in accordance with the following table: Performance Bond Amount Required Required Maintenance Bond Amount 1 $ 0.00 to $25,000 $7,500 2 $25,001 to $50,000 $10,000 3 Greater Than $50,000 20% of Performance Bond Amount
Sample 1
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Related to Maintenance Bond Required

  • Maintenance Bond Prior to being placed on Council's agenda for acceptance of public improvements in this Subdivision, Subdivider shall deposit with the Director of Finance a Three (3) year maintenance bond for streets, pavement, storm and sanitary sewers, water systems, street lighting systems and facilities appurtenant thereto in the amount of Forty Six Thousand Nine Hundred Eighty Two and 50/100 ($46,982.50) Dollars, which represents ten percent (10%) of the estimated cost of said public improvements.

  • Bond Requirements The Contractor hereby agrees to comply with the State’s bonding requirements as identified in the Instructions to Bidders which are included in the RFP and are attached and incorporated into the Contract Documents.

  • Maintenance Requirements The Contractor shall ensure and procure that at all times during the Maintenance Period, the Project Highway conforms to the maintenance requirements set forth in Schedule-E (the “Maintenance Requirements”).

  • Maintenance & Repairs 5.1 Lessee shall at all times be responsible for maintaining at its own expense the leased premises in a clean, orderly and safety condition, except as hereinafter provided. Lessee shall be responsible, at its own expense, to clean and maintain all trade fixtures, machinery and equipment furnished by Lessee within the leased premises. Lessee shall be responsible to deposit normal office waste and rubbish at a location at the Central School as designated by Lessor.

  • Bond Reduction Upon Purchaser’s writ- ten request, Contracting Officer shall redetermine the amount of Purchaser’s performance bond to an amount not less than Purchaser’s remaining obligations, including the value of Included Timber remaining on Sale Area, plus the estimated cost of uncompleted work required of Purchaser and any unpaid xxxxxxxx due on the timber sale. Contracting Officer shall provide written notice of the re- determined amount to Purchaser and to Purchaser’s surety. Similarly, Contracting Officer shall report to Pur- chaser in writing the amount of deposited cash or depos- ited securities required thereafter, if such deposits exist in lieu of a surety bond. As soon as security for the performance of this con- tract or the settlement of Claims incident thereto is no longer necessary, appropriate notice shall be given to surety or deposits that may have been made in lieu of surety bond shall be returned to Purchaser, subject to the conditions in B9.5.

  • Maintenance Windows 12.3.23.1 Generally, Qwest performs major Switch maintenance activities off-hours, during certain “maintenance windows”. Major Switch maintenance activities include Switch conversions, Switch generic upgrades and Switch equipment additions.

  • MAINTENANCE & REPAIR Tenant agrees that if there is any delay in maintenance or repairs for reasons beyond Landlord's control, this shall have no effect on Tenant's obligations under this lease.

  • MORTGAGE BOND If the sale is subject to the Purchaser obtaining a mortgage bond as per clause 12 of the terms and conditions: Mortgage bond amount R Institution If not completed, sale is unconditional and clause 12 of the terms and conditions does not apply. Purchaser specifically acknowledges this clause

  • Maintenance of Coverage Consultant shall not cancel, assign, or change any policy of insurance required by this agreement or engage in any act or omission that will cause its insurer to cancel any insurance policy required by this agreement except after providing 30 days prior notice to the City. If an insurance policy required by this agreement is unilaterally cancelled or changed by the insurer, Consultant shall immediately provide written notice to the City and obtain substitute insurance meeting the requirements of this agreement. Nothing in this paragraph relieves Consultant of its obligation to maintain all insurance required by this agreement at all times during the term of the agreement.

  • Facility Maintenance Seller shall perform, or cause to be performed, all scheduled and unscheduled maintenance required on the Facilities in order to meet the Warranty Specifications and Performance Standards. In that regard, Seller’s responsibilities hereunder shall include, without limitation, promptly correcting any Bloom System or BOF malfunctions, either by (i) recalibrating or resetting the malfunctioning Bloom System or BOF, or (ii) subject to Section 5.7(b), repairing or replacing Bloom System or BOF components which are defective, damaged, worn or otherwise in need of repair or replacement.

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