SECURITY AND RESTRICTIONS. A. Penal Bond –Redeveloper Improvements.
SECURITY AND RESTRICTIONS. Section 401.
SECURITY AND RESTRICTIONS. Section 301.
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SECURITY AND RESTRICTIONS. Section 501. Bond.
A. Penal Bond –Redeveloper Public Improvements. Pursuant to Neb. Rev. Stat. §§ 18- 2151 and 52-141, Redeveloper shall furnish or cause to be furnished to the City, prior to commencement of construction of the Redeveloper Public Improvements, a penal bond in the amount of the contract sum for such improvements with a corporate surety authorized to do business in the State of Nebraska. The form of the penal bond is attached hereto as Exhibit F. Such penal bond shall stay in place until the City executes the Certificate of Completion of Private Improvements for the Private Improvements and shall be conditioned upon Redeveloper or Redeveloper’s contractor at all times making payment of all amounts lawfully due to all persons supplying or furnishing Redeveloper, Redeveloper’s contractor, or his or her subcontractors with labor or materials performed or used in the prosecution of the Redeveloper Public Improvements.
SECURITY AND RESTRICTIONS
