Release of assurances. The obligations of the Subdivider under this Agreement shall be released, the Account released to the Subdivider, and a release of assurances issued by the Town Engineer, only upon the Subdivider’s satisfactory completion and the Town’s acceptance of the Improvements in accordance with paragraph 8, or the Subdivider’s tender and the Town’s acceptance of substitute assurances for completion of the Improvements. Partial release of assurances. The Town may issue a partial release of assurances, authorizing the Subdivider to reduce the cash value of the Account, if the Town Engineer determines that the remaining cash value of the Account is sufficient to perform the Subdivider’s remaining obligations under paragraphs 1 and 2 of this Agreement, plus a reasonable contingency.
Appears in 4 contracts
Samples: Substitute Assurance Agreement, Substitute Assurance Agreement, Substitute Assurance Agreement
Release of assurances. The obligations of the Subdivider under this Agreement shall be released, the Account released Cash returned to the Subdivider, and a release of assurances issued by the Town Engineer, only upon the Subdivider’s satisfactory completion and the Town’s acceptance of the Improvements in accordance with paragraph 8, or the Subdivider’s tender and the Town’s acceptance of substitute assurances for completion of the Improvements. Partial release of assurances. The Town may issue a partial release of assurances, authorizing the Subdivider to reduce the cash value of the Account, if the Town Engineer determines that the remaining cash value of the Account is sufficient to perform the Subdivider’s remaining obligations under paragraphs 1 and 2 of this Agreement, plus a reasonable contingency.
Appears in 2 contracts
Samples: Substitute Assurance Agreement, Substitute Assurance Agreement
