Reduction. Upon Acceptance of all of the Improvements for a particular Phase, the Improvement Guarantee shall be reduced to the amount of 30% of the total Improvement Guarantee. The reduced Improvement Guarantee shall be held by the Town during the Warranty Period and promptly released to Developer upon the expiration of the Warranty Period.
Appears in 7 contracts
Sources: Development Agreement, Development Agreement, Development Agreement
Reduction. Upon Initial Acceptance of all of the Improvements for a particular PhaseImprovements, the Improvement Guarantee shall be reduced to the amount of 3025% of the total Improvement Guaranteeactual cost of construction and installation of such Improvements. The reduced Improvement Guarantee shall be held by the Town during the Warranty Period and promptly released to Developer upon the expiration of the Warranty Period.
Appears in 3 contracts
Sources: Development Agreement, Development Agreement, Development Agreement
Reduction. Upon Initial Acceptance of all of the Improvements for a particular PhaseImprovements, the Improvement Guarantee shall be reduced to the amount of 3025% of the total Improvement Guaranteeactual cost of construction and installation of the Improvements. The reduced Improvement Guarantee shall be held by the Town during the Warranty Period and promptly released to Developer upon the expiration of the Warranty Period2-year warranty period.
Appears in 1 contract
Sources: Development Agreement
Reduction. Upon Initial Acceptance of all of the Improvements for a particular Phase, the Improvement Guarantee shall be reduced to the amount of 3010% of the total Improvement Guaranteeactual cost of construction and installation of such Improvements. The reduced Improvement Guarantee shall be held by the Town during the Warranty Period and promptly released to Developer upon the expiration of the Warranty Period.
Appears in 1 contract
Sources: Annexation and Development Agreement