Common use of Utility Deposits Clause in Contracts

Utility Deposits. The provisions of this Section 22 shall apply separately with respect to each Property. References to Owner or Builder shall refer, respectively, to the Owner Party and Local Builder executing the Addendum applicable to the Property. Builder shall be responsible for all deposits, fees and charges (collectively, “Utility Deposits”) required by any utility company or agency in connection with the construction or installation by Builder of the Subdivision Improvements all in accordance with (and subject to) the terms and conditions in the Construction Agreement. Notwithstanding anything in this Agreement to the contrary, to the extent paid by Builder and not otherwise credited against the purchase of any Homesites, Builder shall be entitled to all utility refunds, returned Utility Deposits, credits and discounts of any nature, and the parties (at no cost or liability to Owner) shall execute such assignment documents as may be required by the applicable governmental or quasi-governmental authorities so that Builder may demonstrate its right to obtain such utility refunds, returned Utility Deposits, credits and discounts; provided, however, that Owner has no obligation or responsibility to build houses or any other improvements on any Homesites not purchased by Builder or to take any other actions.