Common use of Surety Bond Alternative Clause in Contracts

Surety Bond Alternative. The City shall accept, in lieu of the requirements in Section 401.A above, a surety bond supplied by Redeveloper or Redeveloper’s prime contractor meeting the requirements of Neb. Rev. Stat. §52-141 (Reissue 2010) and a lien waiver from the prime contractor. The penal amount of the bond shall be Two Million Five Hundred Thousand Dollars ($2,500,000). As required by Neb. Rev. Stat. §52-141, recorded notice of the bond must be filed of record against the Project Site. If this alternative is used, the City’s Notice to Proceed with construction of the New Building and Redeveloper Public Improvements shall not be issued before proof of said surety bond and recording and a copy of the lien waiver has been provided to the City.

Surety Bond Alternative. The City shall accept, in lieu of the requirements in Section 401.A above, a surety bond supplied by Redeveloper or Redeveloper’s prime contractor meeting the requirements of Neb. Rev. Stat. §52-141 (Reissue 2010) and a lien waiver from the prime contractor. The penal amount of the bond shall be Two Million Five Hundred Thousand Dollars ($2,500,000). As required by Neb. Rev. Stat. §§ 52-141, recorded notice of the bond must be filed of record against the Project Site. If this alternative is used, the City’s Notice to Proceed with construction of the New Building and Redeveloper Public Improvements shall not be issued before proof of said surety bond and recording and a copy of the lien waiver has been provided to the City.

Surety Bond Alternative. The City shall accept, in lieu of the requirements in Section 401.A 501.A above, a surety bond supplied by Redeveloper or Redeveloper’s prime contractor meeting the requirements of Neb. Rev. Stat. §52-141 (Reissue 2010) and a lien waiver from the prime contractor. The penal surety amount of the bond shall be Two Million Five Hundred Thousand Dollars ($2,500,000). As required by Neb. Rev. Stat. §52-141, recorded notice of the bond must be filed of record against the Project Site. If this alternative is used, the City’s Notice to Proceed with construction of the New Building and Redeveloper Public Improvements shall not be issued before proof of said surety bond and recording and a copy of the lien waiver has been provided to the City.

Surety Bond Alternative. The City shall accept, in lieu of the requirements in Section 401.A 301.A. above, a surety bond supplied by Redeveloper the Redevelopers or Redeveloper’s Redevelopers’ prime contractor contractor, meeting the requirements of Neb. Rev. Stat. §52-141 (Reissue 2010) and a lien waiver from the prime general contractor. The penal amount of the bond shall be Two Million Five Hundred Thousand Dollars ($2,500,000500,000.00). As required by Neb. Rev. Stat. §§ 52-141, recorded notice of the bond must be filed of record against the Project SiteRedeveloper’s condominium unit. If this alternative is used, the City’s Notice to Proceed with construction of the New Building and Redeveloper Public Improvements Undertakings shall not be issued before until proof of said surety bond payment and recording and a copy of the lien waiver has been shall be provided to the City.

Surety Bond Alternative. The City shall accept, in lieu of the requirements in Section 401.A above, a surety bond supplied by Redeveloper or Redeveloper’s prime contractor meeting the requirements of Neb. Rev. Stat. §52-141 (Reissue 2010) and a lien waiver from the prime contractor. The penal amount of the bond shall be Two Three Million Five Hundred Thousand Dollars ($2,500,0003,000,000). As required by Neb. Rev. Stat. §52-141, recorded notice of the bond must be filed of record against the Project Site. If this alternative is used, the City’s Notice to Proceed with construction of the New Building and Redeveloper Public Improvements shall not be issued before proof of said surety bond and recording and a copy of the lien waiver has been provided to the City.

Surety Bond Alternative. The City shall accept, in lieu of the requirements in Section 401.A above, a surety bond supplied by Redeveloper or Redeveloper’s prime contractor meeting the requirements of Neb. Rev. Stat. §52-141 (Reissue 2010) and a lien waiver from the prime contractor. The penal amount of the bond shall be Two Million Five Hundred Thousand Dollars ($2,500,000). As required by Neb. Rev. Stat. §52-141, recorded notice of the bond must be filed of record against the Project Site. If this alternative is used, the City’s Notice to Proceed with construction of the New Building and Redeveloper Public Improvements shall not be issued before proof of said surety bond and recording and a copy of the lien waiver has been provided to the City.