Penal Sum. The Performance Bond shall be in the --------- amount and provide a penalty of one hundred percent (100%) of the cost of the improvements to be constructed as such cost shall be determined by the Developer. The Payment Bond shall be in the amount and provide a penalty of one hundred percent (100%) of the valuation of the improvements to be constructed.
Appears in 3 contracts
Sources: Lease Agreement (Kilroy Realty Corp), Lease Agreement (Kilroy Realty Corp), Lease Agreement (Kilroy Realty Corp)
Penal Sum. The Performance Bond shall be in the --------- amount and --------- provide a penalty of one hundred percent (100%) of the cost of the improvements to be constructed as such cost shall be determined by the Developer. The Payment Bond shall be in the amount and provide a penalty of one hundred percent (100%) of the valuation of the improvements to be constructed.
Appears in 1 contract
Sources: Lease Agreement (Kilroy Realty Corp)