Common use of Security for performance of obligations Clause in Contracts

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] 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 36 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. If the Developer does not dedicate Dedication Land or register the Public Easement at the time at required under this Deed, the Developer consents to the Council compulsorily acquiring the Dedication Land or the Public Easement (as the case may be) for compensation in the amount of $1 without having to follow the pre‑acquisition procedure under the Just Terms Act. The Council is to only acquire land pursuant to clause 35.1 if it considers it reasonable to do so having regard to the circumstances surrounding the failure by the Developer to dedicate the Dedication Land or register the Public Easement. Clause 35.1 constitutes an agreement for the purposes of s30 of the Just Terms Act. If, as a result of the acquisition referred to in clause 35.1, the Council is required to pay compensation to any person other than the Developer, the Developer is to reimburse the Council that amount, upon a written request being made by the Council, or the Council can call on any Security provided under clause 34. The Developer indemnifies and keeps indemnified the Council against all Claims made against the Council as a result of any acquisition by the Council of the whole or any part of the land concerned, including in respect of any Contamination on or emanating from the Relevant Land but, in respect of the Dedication Land, only in relation to Contamination that existed on or before the date that the Dedication Land is compulsorily acquired by Council, and in respect of all Relevant Land, except if, and to the extent that, the Claim arises because of the Council's negligence or default. The Developer is to promptly do all things necessary, and consents to the Council doing all things necessary, to give effect to this clause 35, including without limitation: signing any documents or forms, and giving land owner’s consent for lodgement of any development application within the meaning of the Act, and paying the Council's costs arising under this clause 35.

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 worksworks 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 36 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. If the Developer does not dedicate Dedication Land or register the Public Easement at the time at required under this Deed, the Developer consents to the Council compulsorily acquiring the Dedication Land or the Public Easement (as the case may be) for compensation in the amount of $1 without having to follow the pre‑acquisition procedure under the Just Terms Act. The Council is to only acquire land pursuant to clause 35.1 if it considers it reasonable to do so having regard to the circumstances surrounding the failure by the Developer to dedicate the Dedication Land or register the Public Easement. Clause 35.1 constitutes an agreement for the purposes of s30 of the Just Terms Act. If, as a result of the acquisition referred to in clause 35.1, the Council is required to pay compensation to any person other than the Developer, the Developer is to reimburse the Council that amount, upon a written request being made by the Council, or the Council can call on any Security provided under clause 34. The Developer indemnifies and keeps indemnified the Council against all Claims made against the Council as a result of any acquisition by the Council of the whole or any part of the land concerned, including in respect of any Contamination on or emanating from the Relevant Land but, in respect of the Dedication Land, only in relation to Contamination that existed on or before the date that the Dedication Land is compulsorily acquired by Council, and in respect of all Relevant Land, except if, and to the extent that, the Claim arises because of the Council's negligence or default. The Developer is to promptly do all things necessary, and consents to the Council doing all things necessary, to give effect to this clause 35, including without limitation: signing any documents or forms, and giving land owner’s consent for lodgement of any development application within the meaning of the Act, and paying the Council's costs arising under this clause 35.

Security for performance of obligations. 26.1 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] $3,033,000.00 in relation to the performance of its obligations under this Deed. . 26.2 The Developer is to provide the Security to the Council before it commences any part as follows. (a) Security in the amount of $1.76 million to Council to secure the Developer's obligations under this Deed in relation to the Road Works, and (b) Security in the amount of $1 million to Council to secure the Developer's obligations in relation to the monetary Development Contributions for Kempt Field Works, and (c) Security in the amount of $273,000 to secure the Developer's obligations under this Deed in relation to the Development Contributions described in Schedule 2, all within 28 days of the granting of Development unless, before Consent to the Development Application 26.3 The Bank Guarantees that time, have been provided to secure the Council agrees Developer's obligations in writing relation to apportion monetary Development Contributions may be reduced progressively in accordance with the Security to different Stages, in which case certain amounts that the Developer is to provide the portion pays in satisfaction of the Security relating to a particular Stage to the Council before it commences any part of the Development comprised in the Stage. those Developer's obligations. 26.4 The Council, in its absolute discretion and despite clause 2415, 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. . 26.5 The Council may call-up and apply the Security in accordance with clause 36 26 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. . 26.6 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 obligations in respect of which the Security relates. . 26.7 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. . 26.8 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 . 26.9 At the expiry of each 12 month period during which the Security is provided to the Council, the Developer is to ensure that the Security provided to the Council is at all times maintained to the full current indexed value. If the Developer does not dedicate Dedication Land or register the Public Easement at the time at required under this Deed, the Developer consents to the Council compulsorily acquiring the Dedication Land or the Public Easement (as the case may be) for compensation in the amount of $1 without having to follow the pre‑acquisition procedure under the Just Terms Act. The Council is to only acquire land pursuant to clause 35.1 if it considers it reasonable to do so having regard to the circumstances surrounding the failure adjusted by the Developer to dedicate increase or decrease in CPI index over the Dedication Land or register the Public Easement. Clause 35.1 constitutes an agreement for the purposes of s30 of the Just Terms Act. If, as a result of the acquisition referred to in clause 35.1, the Council is required to pay compensation to any person other than the Developer, the Developer is to reimburse the Council that amount, upon a written request being made by the Council, or the Council can call on any Security provided under clause 34. The Developer indemnifies and keeps indemnified the Council against all Claims made against the Council as a result of any acquisition by the Council of the whole or any part of the land concerned, including in respect of any Contamination on or emanating from the Relevant Land but, in respect of the Dedication Land, only in relation to Contamination that existed on or before the date that the Dedication Land is compulsorily acquired by Council, and in respect of all Relevant Land, except if, and to the extent that, the Claim arises because of the Council's negligence or default. The Developer is to promptly do all things necessary, and consents to the Council doing all things necessary, to give effect to this clause 35, including without limitation: signing any documents or forms, and giving land owner’s consent for lodgement of any development application within the meaning of the Act, and paying the Council's costs arising under this clause 35last 12 month period.

Security for performance of obligations. 34.1 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] in relation to the performance of its obligations under this Deed. . 34.2 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. . 34.3 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. . 34.4 The Council may call-up and apply the Security in accordance with clause 36 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. . 34.5 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. . 34.6 The Developer may at any time provide the Council with a replacement Security. . 34.7 On receipt of a replacement Security, the Council is to release and return the Security that has been replaced to the Developer. . 34.8 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. . 34.9 The Developer is to ensure that the Security provided to the Council is at all times maintained to the full current indexed value. If the Developer does not dedicate Dedication Land or register the Public Easement at the time at required under this Deed, the Developer consents to the Council compulsorily acquiring the Dedication Land or the Public Easement (as the case may be) for compensation in the amount of $1 without having to follow the pre‑acquisition procedure under the Just Terms Act. The Council is to only acquire land pursuant to clause 35.1 if it considers it reasonable to do so having regard to the circumstances surrounding the failure by the Developer to dedicate the Dedication Land or register the Public Easement. Clause 35.1 constitutes an agreement for the purposes of s30 of the Just Terms Act. If, as a result of the acquisition referred to in clause 35.1, the Council is required to pay compensation to any person other than the Developer, the Developer is to reimburse the Council that amount, upon a written request being made by the Council, or the Council can call on any Security provided under clause 34. The Developer indemnifies and keeps indemnified the Council against all Claims made against the Council as a result of any acquisition by the Council of the whole or any part of the land concerned, including in respect of any Contamination on or emanating from the Relevant Land but, in respect of the Dedication Land, only in relation to Contamination that existed on or before the date that the Dedication Land is compulsorily acquired by Council, and in respect of all Relevant Land, except if, and to the extent that, the Claim arises because of the Council's negligence or default. The Developer is to promptly do all things necessary, and consents to the Council doing all things necessary, to give effect to this clause 35, including without limitation: signing any documents or forms, and giving land owner’s consent for lodgement of any development application within the meaning of the Act, and paying the Council's costs arising under this clause 35.

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 [Drafting Note. Insert $ amount equal to 100% the estimated cost of construction of the sum of all Contribution Values of all works] in relation Road Works, to be determined by the performance of its obligations under this Deed. Council acting reasonably. (b) The Developer is to provide the Security to the Council before it commences any part of the Development unless, before that time, or 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. Road Works. (c) The Council, in its absolute discretion and despite clause 245.3, 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. . (d) The Council may call-up and apply the Security in accordance with clause 36 5.12 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. . (e) The Council is to release and return the Security or any unused part of it to the Developer within 14 days of completion of all of the obligation to which the Security relates. Developer’s obligations under this Deed. (f) The Developer may at any time provide the Council with a replacement Security. . (g) On receipt of a replacement Security, the Council is to release and return the Security that has been replaced to the Developer. . (h) 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. . (i) The Developer is to ensure that the Security provided to the Council is at all times maintained to the full current indexed value. If the Developer does not dedicate Dedication Land or register the Public Easement at the time at required under this Deed, the Developer consents to the Council compulsorily acquiring the Dedication Land or the Public Easement (as the case may be) for compensation in the amount of $1 without having to follow the pre‑acquisition procedure under the Just Terms Act. The Council is to only acquire land pursuant to clause 35.1 if it considers it reasonable to do so having regard to the circumstances surrounding the failure by the Developer to dedicate the Dedication Land or register the Public Easement. Clause 35.1 constitutes an agreement for the purposes of s30 of the Just Terms Act. If, as a result of the acquisition referred to in clause 35.1, the Council is required to pay compensation to any person other than the Developer, the Developer is to reimburse the Council that amount, upon a written request being made by the Council, or the Council can call on any Security provided under clause 34. The Developer indemnifies and keeps indemnified the Council against all Claims made against the Council as a result of any acquisition by the Council of the whole or any part of the land concerned, including in respect of any Contamination on or emanating from the Relevant Land but, in respect of the Dedication Land, only in relation to Contamination that existed on or before the date that the Dedication Land is compulsorily acquired by Council, and in respect of all Relevant Land, except if, and to the extent that, the Claim arises because of the Council's negligence or default. The Developer is to promptly do all things necessary, and consents to the Council doing all things necessary, to give effect to this clause 35, including without limitation: signing any documents or forms, and giving land owner’s consent for lodgement of any development application within the meaning of the Act, and paying the Council's costs arising under this clause 35.