Common use of Payment by Developer Clause in Contracts

Payment by Developer. Developer shall pay, upon demand by Township, the amount of any liability under this Contract or related to the Plat paid by Township. Developer shall satisfy and discharge any judgment recovered against Township or the Dedications by reason of such liability promptly after the entry thereof, unless an appeal is taken and any bonds required to stay the collection thereof are procured and filed by Developer. If a final judgment is entered against the Township or the Dedications after the appeal, Developer shall satisfy and discharge such judgment. Township may, in its reasonable discretion, make any payment as required herein, or access the Financial Guaranty for the same purpose, and in any event, if the Township has spent its own funds. The Developer shall promptly repay to the Township the amount of such payment with interest.