Maintenance Bond. The Developer shall not be relieved of his obligation to maintain the Water System until the same is accepted by the District in writing; provided however, that upon acceptance of the Water System by the District the Developer shall be required to execute a maintenance bond, post a letter of credit or deposit cash pursuant to an escrow agreement with the District to ensure that the Water System is installed properly and that such construction has been performed in a workmanlike manner. The maintenance bond, letter of credit or cash escrow agreement shall provide that:
Appears in 3 contracts
Samples: Water Extension Agreement, Water Extension Agreement, Water Extension Agreement
Maintenance Bond. The Developer shall not be relieved of his obligation to maintain the Water System until the same is accepted by the District Authority in writing; provided however, that upon acceptance of the Water System by the District Authority the Developer shall be required to execute a maintenance bond, post a letter of credit or deposit cash pursuant to an escrow agreement with the District Authority to ensure that the Water System is installed properly and that such construction has been performed in a workmanlike manner. The maintenance bond, letter of credit or cash escrow agreement shall provide that:
Appears in 1 contract
Samples: Water Extension Agreement
