Security Agreement for Construction of Improvements Sample Clauses

Security Agreement for Construction of Improvements. The Security Agreement referred to in Article II hereof shall be completed and executed or, in the case of escrow funds, funds deposited with the Township, sufficient in amount to guarantee the performance of this Agreement and the installation of all Public Improvements whether or not they are to be dedicated, together with all administrative and inspection costs incurred by the Township. Preparation of the Security Agreement and/or escrow funds, or other means of financial security will be prepared in accordance with the Pennsylvania Municipalities Planning Code, Act 247, and provisions set forth in the West Hanover Township Subdivision and Land Development Ordinance.
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Security Agreement for Construction of Improvements. The Security Agreement referred to in Article II hereof shall be completed and executed or, in the case of escrow funds, funds deposited with the Township, sufficient in amount to guarantee the performance of this Agreement and the installation of all Public Improvements whether or not they are to be dedicated, together with all administrative and inspection costs incurred by the Township. Preparation of the Security Agreement and/or escrow funds, or other means of financial security will be prepared in accordance with the Pennsylvania Municipalities Planning Code, Act 247, and provisions set forth in the West Hanover Township Subdivision and Land Development Ordinance. Maintenance Guarantee of Improvements Upon acceptance of such deeds of dedication with respect to the Dedicated Improvements and final inspections with respect to the public improvements, Developer shall maintain all of the said improvements in good order and repair for a further period of eighteen (18) months and shall repair said improvements as the Township Engineer or Board of Supervisors may in good faith determine to be necessary by reason of inadequate, improper or defective construction, workmanship or materials. No transfer of ownership of the subject property or any portion thereof shall in any way relieve Developer of responsibility for completion of the improvements in accordance with the terms of this Agreement nor affect in any way the rights of Township under the Security Agreement executed contemporaneously herewith; Developer’s heirs, administrators, successors and assigns shall be bound by the provisions of the Paragraph and the terms of this Agreement. Developer, for itself, its successors and assigns, by execution of this Agreement does agree with Township, its successors and assigns, that the obligations undertaken herein by Developer shall be covenants running with the land and that in any deed of conveyance of the said site or any part thereof to any person or persons, said obligations shall be incorporated by reference to this Agreement as fully as the same are contained herein. Pursuant thereto, it is agreed by the parties hereto that this Agreement may be recorded in the Office of the Recorder of Deeds of Dauphin County, Pennsylvania.
Sample 1

Related to Security Agreement for Construction of Improvements

  • Construction of Improvements (A) Lessee warrants and agrees that the Building will be constructed on the Leased Premises, and all other improvements to the land, including the parking lot, approaches, and service areas, will be constructed in all material respects by Lessee substantially in accordance with the plot, plans, and specifications heretofore submitted to Lessor.

  • CONDITION OF IMPROVEMENTS The risk of destruction or substantial damage by fire or Act of God prior to delivery of deed is assumed by Seller. Xxxxxx agrees that on possession, the Real Estate shall be in the same condition as it is on the date of this contract, except for ordinary wear and tear. If the Real Estate should be damaged or destroyed by fire or other casualty and if, prior to Closing, the real Estate shall not be repaired or restored by and at the Sellers expense, to a condition as good as it was prior to the damage or destruction, then Purchaser, at his option, may terminate this contract by written notice to Seller and the Down Payment Shall be returned to Purchaser. While this contract is pending, Sellers shall not change any existing lease or enter into any new lease, nor make any substantial alterations or repairs without the consent of the Purchaser. In addition, the Purchaser also has an insurable interest in the property from date of this contract. Purchaser is hereby notified that insurance should be placed upon the property immediately to protect Purchasers’ interest.

  • Construction Phase - Administration of the Construction Contract 1.6.1 The Construction Phase shall commence with the acceptance of the Construction Manager’s Guaranteed Maximum Price (or acceptance of a partial Guaranteed Maximum Price for a stage or phase) and issuance of a Notice to Proceed with Construction Services and terminate sixty (60) days after Final Payment to the Contractor is made, or when all of Architect/Engineer’s services have been satisfactorily performed, whichever occurs later.

  • Construction of Agreement The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist.

  • Completion of Improvements Within 90 days of completion of any construction herein permitted, Company will cause to be prepared and delivered to Authority record documents as required under the Tenant Work Permit process, including but not limited to as-builts, legal descriptions, boundary surveys, and certified final cost of construction. The submission of record document electronic media will be in accordance with Authority’s Standard Procedure for computer aided design and drafting and drawings, as may be revised from time to time.

  • Protection of Improvements So far as practicable, Purchaser shall protect Specified Roads and other improvements (such as roads, trails, telephone lines, ditches, and fences):

  • Governing Law; Construction This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement (“Claim”), directly or indirectly, shall be governed by, and construed in accordance with, the laws of the State of New York. The section headings in this Agreement have been inserted as a matter of convenience of reference and are not a part of this Agreement.

  • Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.

  • ADDITIONAL CONSTRUCTIONS The Promoter undertakes that it has no right to make additions or to put up additional structure(s) anywhere in the Project after the building plan has been approved by the competent authority(ies) except for as provided in the Act.

  • Agreement Construction Headings or captions to the provisions of this Agreement are solely for the convenience of the parties, are not part of this Agreement, and shall not be used to interpret or determine the validity of this Agreement. Any ambiguity in this Agreement shall not be construed against the drafter, but rather the terms and provisions hereof shall be given their reasonable interpretation.

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