Maintenance Bonds. Unless otherwise specified, before final payment is made as herein provided, the Contractor shall furnish a Surety Corporation Bond to the Owner in a sum equal to:
Maintenance Bonds. 11.5.1 One-Year Maintenance Bond: XXXX shall provide Bond on a standard City Maintenance Bond form, providing for XXXX'x correction, replacement, or restoration of any portion of the Work which is found to be not in compliance with requirements of the Contract during the Correction Period required in Paragraph 12.2. The Maintenance Bond must be for twenty-five percent (25%) of the GMP.
Maintenance Bonds. Upon completion of proposed improvements, contractors/developers shall provide a maintenance bond in favor of the North Park Public Water District in an amount equal to ten (10) percent of the final contract price. This bond shall guarantee performance by the contractor/developer under Guarantee Warranty requirements detailed in the District’s Standard Specifications on file with the IEPA. This bond shall be furnished upon the District’s final acceptance and prior to submission of the IEPA Operating Permit Application, and shall remain in effect for a period of one (1) year thereafter. Alternative bonding methods (i.e. other agency bonds covering water facilities, etc.) may be accepted at the discretion of the District. Every bond provided for in this Section shall have as security thereon one Surety Company qualified to do business in the State of Illinois and acceptable to the District.
Maintenance Bonds. Owner shall execute or cause to be executed a valid Maintenance Bond in accordance with applicable City Regulations that guarantees the costs of any repairs which may become necessary to any part of the construction work performed in connection with the Roadway Improvements, arising from defective workmanship or materials used therein, for a full period of two years from the date of final acceptance of the Public Improvements constructed under any such contract(s).
Maintenance Bonds. Upon acceptance of the Guaranteed Maximum Price Proposal, the XXxX shall provide a maintenance bond insuring the City that the XXxX will 1) maintain and keep in good repair, and replace or repair and correct any and all defects arising in the Work, whether resulting from defective materials or defective workmanship; and 2) make and perform all necessary repairs, reconstruction and renewal of any part of said Work, and furnish the labor and materials to make good and to repair any defective condition growing out of or on account of the breakage or failure of any substance or the improper function of any part of the Work. The maintenance bond’s duration shall be for a period of two (2) years after the date of substantial completion of the project.
Maintenance Bonds. Prior to acceptance and dedication of the Improvements, the District shall, or shall ensure that its contractors shall, provide a Maintenance Bond in a form approved by the City Attorney, in an amount equal to fifty percent (50%) of the cost of the Improvements as approved by the City Engineer, which shall be in effect for a term of three (3) years from the date that the City issues a Certificate of Substantial Completion for such Improvements covered by the bond, conditioned upon the faithful performance of the provisions, terms and conditions of the construction contract. The Maintenance Bond shall name the City as an obligee and copies of certificates of such bond shall be delivered to the City.
Maintenance Bonds. The bonds referred to in Section 11 will not be released until a surety bond guaranteeing the warranty requirements of Section 8 in the amount of at least ten percent (10%) of the sum shown in Section 3 is filed with CITY. The maintenance bond will be released one (1) year from the date of final acceptance of the Improvements.
Maintenance Bonds. When all subdivision improvements have been installed, inspected and approved by the City Manager or designee and Public Works Director or its designee, and when the City is being requested to accept such subdivision improvements, the Owner shall provide a maintenance bond(s) payable to the City. For each Phase, the Owner shall provide a surety bond issued by a bonding company or such other guarantee under the requirements of sub-paragraph A (1) above in an amount equal to fifteen per cent (15%) of the construction costs of the applicable public subdivision improvements. Said maintenance bonds shall guarantee that such public subdivision improvements have been properly constructed, free of design defects and all defects of material or workmanship and are guaranteed for a period of two (2) years. Upon correction of all deficiencies and at the end of the two (2)-year period, the maintenance bonds shall expire. At least sixty (60) days prior to the expiration of the maintenance period, the Owner shall notify the Public Works Director or its designee to schedule a final inspection. Prior to release of the maintenance bonds, which shall not be unreasonably withheld, the Owner will be required to correct any defects in material or workmanship which may have manifested themselves during the maintenance period.
Maintenance Bonds. Each Construction Contract will require the applicable Contractor, as a condition of substantial completion of the Tecoma Improvements (or applicable portion thereof), to secure a maintenance bond for any portion of the Contractor’s work that the City of Austin or applicable governmental authority requires be covered by a maintenance bond.
Maintenance Bonds. Upon acceptance of the Guaranteed Maximum Price Proposal, the Construction Manager shall provide a maintenance bond insuring the City that the Construction Manager will 1) maintain and keep in good repair, and replace or repair and correct any and all defects arising in the Work, whether resulting from defective materials or defective workmanship; and 2) make and perform all necessary repairs, reconstruction and renewal of any part of said Work, and furnish the labor and materials to make good and to repair any defective condition growing out of or on account of the breakage or failure of any substance or the improper function of any part of the Work. The maintenance bond’s duration shall be for a period of two (2) years after the date of the City’s final payment to the Construction Manager.
