Security for performance of obligations. 24.1 The Developer is to provide Security to the Council in the amount of $98,000.00 in relation to the performance of its obligations under this Deed.
Security for performance of obligations. 22.1 Prior to the issuing of the first Construction Certificate for the Development:
Security for performance of obligations. 27.1 The Developer is to provide the Council with Security in the amount specified in Item 12 of Schedule 1 to secure the performance of such of the Developer’s obligations under this Deed as are specified or described in Item 13 of Schedule 1.
Security for performance of obligations. The Developer is to provide Security to the Council in the amount of [Drafting Note. Insert $ amount equal to 100% of the sum of all Contribution Values of all works and monetary contributions] in relation to the performance of its obligations under this Deed. The Developer is to provide the Security to the Council before it commences any part of the Development unless, before that time, the Council agrees in writing to apportion the Security to different Stages, in which case the Developer is to provide the portion of the Security relating to a particular Stage to the Council before it commences any part of the Development comprised in the Stage. The Council, in its absolute discretion and despite clause 24, may refuse to allow the Developer to enter, occupy or use any land owned or controlled by the Council or refuse to provide the Developer with any plant, equipment, facilities or assistance relating to the carrying out the Development if the Developer has not provided the Security to the Council in accordance with this Deed. The Council may call-up and apply the Security in accordance with clause 39 to remedy any breach of this Deed notwithstanding any other remedy it may have under this Deed, under any Act or otherwise at law or in equity. The Council is to release and return the Security or any unused part of it to the Developer within 14 days of completion of the obligation to which the Security relates. The Developer may at any time provide the Council with a replacement Security. On receipt of a replacement Security, the Council is to release and return the Security that has been replaced to the Developer. If the Council calls-up the Security or any portion of it, it may, by written notice to the Developer, require the Developer to provide a further or replacement Security to ensure that the amount of Security held by the Council equals the amount it is entitled to hold under this Deed. The Developer is to ensure that the Security provided to the Council is at all times maintained to the full current indexed value.
Security for performance of obligations. (a) The Developer is to provide Security to the Council for the performance of the Developer’s obligations under this Deed, in the amount of the estimated cost of construction of the Road Works, to be determined by the Council acting reasonably.
Security for performance of obligations. The Developer is to provide the Council with Security in the amount specified in Item 12 of Schedule 1 to secure the performance of such of the Developer’s obligations under this Deed as are specified or described in Item 13 of Schedule 1. The Security is to be provided at the time specified in Item 14 of Schedule 1. The amount of the Security is to be indexed from the date of this Deed in accordance with the index specified in Item 15 of Schedule 1. The Council is to release and return the Security or any unused part of it to the Developer within 14 days of compliance by the Developer [Insert ‘and Landowner’ here if applicable] of its obligations under this Deed to the reasonable satisfaction of the Council. The Developer may at any time provide the Council with a replacement Security. On receipt of a replacement Security, the Council is to release and return to the Developer, as directed, the Security it holds that has been replaced. The Council may call-up the Security if it reasonably considers that the Developer [Insert ‘or Landowner’ here if applicable] has not complied with its obligations under this Deed specified in Item 13 of Schedule 1. However, the Council is not to call-up the Security unless: it has given the Developer not less than 30 days’ notice of its intention to do so and particulars of why it intends to do so, and the Developer Insert ‘or Landowner’ here if applicable] has not rectified the non-compliance to the Council’s reasonable satisfaction before that period has expired. If the Council calls-up the Security, it may use the amount paid to it in satisfaction of any costs incurred by it in remedying the non-compliance including but not limited to: the reasonable costs of the Council’s servants, agents and contractors reasonably incurred for that purpose, all fees and charges necessarily or reasonably incurred by the Council in order to have the Work carried out, completed or rectified, and all legal costs and expenses reasonably incurred by the Council, by reason of the Developer's non-compliance. If the Council calls-up the Security, it may, by notice in writing to the Developer, require the Developer to provide a further or replacement Security in an amount that, when added to any unused portion of any existing Security, does not exceed the amount of the Security the Council is entitled to hold under this Deed. The dispute resolution provisions of this Deed do not apply to any matter the subject of this clause.
Security for performance of obligations. 23.1 Notwithstanding any other provision of this Deed, if the Developer wishes to obtain a Subdivision Certificate which can only be issued if any Work is first completed under this Deed, and the Developer is not in a position to complete that Work by the time it wishes to apply for the Subdivision Certificate then the Developer may:
Security for performance of obligations. 29.1 The Developer must, procure the registration of the Agreement on the relevant folios of the register held by the LPI pertaining to Stages 2, 3, 4, 5 and 6 as soon as reasonably practicable after the Commencement Date and, in any event, no later than 90 Business Days after the Commencement Date.
Security for performance of obligations. Performance of Applicant's obligations pursuant to the Agreement shall be secured by a letter of credit provided to the County substantially in the form attached as Exhibit "J" to Development Agreement No. 64. The letter of credit furnished to COUNTY may be the same letter of credit referred to in Section 9.9.1 of Development Agreement No. 64
Security for performance of obligations. 19.1 On execution of this Deed, the Developer is to provide Security to the Council equal to the Stormwater Drainage Work Security Amount.
