WARRANTY SECURITY. The Responsible Party understands and agrees that the City will not approve any Final Plat within the identified Subdivision until it has been determined all required Public Improvements have been accepted and found free of defects for the required Warranty Period(s), unless prior to any final platting the Responsible Party executes a Warranty Security in favor of the City for Ten percent (10%) of the Engineer’s Estimate for the duration of the Warranty Period(s). The Responsible Party shall use the Warranty Security form approved by the City Attorney. Each Warranty Security required by this Agreement shall be secured in favor of the City by one of the following methods:
Appears in 7 contracts
Samples: Subdivision Construction Agreement, Subdivision Construction Agreement, Subdivision Construction Agreement
