Common use of Warranty and Maintenance Clause in Contracts

Warranty and Maintenance. The Developer will warrant that all materials and/or equipment and work performed are to be free of defects in material and workmanship, and further agrees to provide all maintenance, repairs or reconstruction of defective construction, replacement of defective equipment, materials and/or workmanship, including all shrinkage or settlement or other faults arising therefrom at its own expense, promptly when notified in writing to do so by the Authority and to the satisfaction of the Authority for a term of one year from the date of acceptance of the Facilities by the Authority. The warranty shall be secured by a bond of a surety company acceptable to the Authority in an amount of five percent (5%) of the actual installation costs of the Facilities.

Warranty and Maintenance. The Developer will warrant that all materials and/or equipment and work performed are to be free of defects in material and workmanship, and further agrees to provide all maintenance, repairs or reconstruction of defective construction, replacement of defective equipment, materials and/or workmanship, including all shrinkage or settlement or other faults arising therefrom at its own expense, promptly when notified in writing to do so by the Authority and to the satisfaction of the Authority for a term of one year from the date of acceptance of the Facilities Project Acceptance by the Authority. The warranty shall be secured by a bond of a surety company acceptable to the Authority in an amount of five percent (5%) of the actual installation costs of the Facilities.