Security for PID Projects Sample Clauses

Security for PID Projects. The Developer shall provide for a two (2) year maintenance bond relating to the PID Projects. Nothing in this Agreement shall be deemed to prohibit Developer or the City from contesting in good faith the validity or amount of any mechanics or materialman’s lien and/or judgment nor limit the remedies available to Developer or the City with respect thereto so long as such delay in performance shall not subject the PID Projects to foreclosure, forfeiture, or sale. In the event that any such lien and/or judgment with respect to the PID Projects is contested, Developer shall be required to post or cause the delivery of a surety bond or letter of credit, whichever is preferred by the City, in an amount reasonably determined by the City, not to exceed one-hundred twenty percent (120%) of the disputed amount.
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Security for PID Projects. In accordance with Section 4.04 of the Development Agreement, prior to completion and conveyance to City of any PID Project, Owner shall cause a maintenance bond to be delivered to City in the amount required by City's subdivision regulations for applicable PID Projects. Nothing in this Agreement or the Development Agreement shall be deemed to prohibit Owner or City from contesting in good faith the validity or amount of any mechanics or materialman's lien and/or judgment nor limit the remedies available to Owner or City with respect thereto so long as such delay in performance shall not subject the PID Project to foreclosure, forfeiture or sale. In the event that any such lien and/or judgment with respect to the PID Project is contested, Owner shall be required to post or cause the delivery of a surety bond or letter of credit, whichever is preferred by City, in an amount reasonably determined by City, not to exceed 120% of the disputed amount.

Related to Security for PID Projects

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  • Access to Project Site Redeveloper shall permit the representatives of the City to enter Project Site at any and all reasonable times, as the City may deem necessary for the purposes of this Redevelopment Agreement, including but not limited to work and inspection of all work being performed in connection with the construction of the Redeveloper Improvements. Similarly, the City shall permit Redeveloper such entry upon the public rights of way for such purposes. No compensation shall be payable nor shall any charges be made in any form by any party for the access or inspection provided for in this Section. The City’s right of access granted under this Section shall terminate upon issuance by the City of the Redeveloper’s Certificate of Completion of Redeveloper Improvements. Notwithstanding the above, Redeveloper shall not be relieved of the provisions contained in Chapter 14.29 of the Lincoln Municipal Code regarding the use of streets for private construction purposes.

  • Payroll Records Contractors and Subcontractors must keep original payrolls or transcripts subscribed and affirmed as true under the penalties of perjury as required by law. For public works contracts over $25,000 where the Contractor maintains no regular place of business in New York State, such records must be kept at the work site. For building services contracts, such records must be kept at the work site while work is being performed.

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