Common use of Security for Defects Liability Period Clause in Contracts

Security for Defects Liability Period. Until the expiry of the relevant Defects Liability Period, Council may retain from the Guarantee an amount equal to 10% of the Attributed Value of the Developer’s Works as security for the Developer’s performance of its obligations under this clause 8. The Developer must make any necessary arrangements to allow the provision of the Guarantee for the Defects Liability Period in accordance with this clause. If: the Developer is in breach of clause 4.3of this Planning Agreement; or Council notifies the Developer of a Defect in the Public Benefits within the Defects Liability Period, then, following written notice from Council, the Developer must promptly correct or replace (at the Developer’s expense) the defective elements of the Public Benefits. If the Developer is unable or unwilling to comply with clause 8.2(a), or fails to rectify the Defect within three months of receiving notice from Council under clause 8.2(a), Council may: rectify the Defect itself; make a claim on the Guarantee in accordance with clause 10 for the reasonable costs of Council in rectifying the Defect; and to the extent the costs incurred to rectify the Defect exceeds the Guarantee, recover the reasonable costs from the Developer as a debt due and owing to Council. If Council requires access to the Land to rectify any Defect, the Developer grants Council and its contractors a licence for such period as is necessary for Council and its contractors to access the Land to carry out, or procure the carrying out, of the rectification works. The Owner: consents to the registration of this Planning Agreement at the NSW Land Registry Services on the certificate of title/s to the Land; warrants that it has obtained all consents to the registration of this Planning Agreement on the certificate of title/s to the Land; and must within 10 Business Days of a written request from Council do all things necessary to allow Council to register this Planning Agreement on the certificate of title/s to the Land, including but not limited to: producing any documents or letters of consent required by the Registrar-General of the NSW Land Registry Services; providing the production slip number when the Owner produces the certificate of title/s to the Land at the NSW Land Registry Services; and providing Council with a cheque for registration fees payable in relation to registration of this Planning Agreement at NSW Land Registry Services. The Owner must act promptly in complying with and assisting to respond to any requisitions raised by the NSW Land Registry Services that relate to registration of this Planning Agreement. If Council is satisfied that the Developer and the Owner have provided all Public Benefits and otherwise complied with this Planning Agreement then Council must promptly do all things reasonably required to remove this Planning Agreement from the certificate of title/s to the Land. The Developer must deliver the Guarantee for the Guarantee Amount to Council by the Guarantee Amount Due Date.

Security for Defects Liability Period. Until the expiry of the relevant Defects Liability Period, Council may retain from the Guarantee an amount equal to 10% of the Attributed Value of the Developer’s Works as security for the Developer’s performance of its obligations under this clause 89. The Developer must make any necessary arrangements to allow the provision of the Guarantee for the Defects Liability Period in accordance with this clause. If: the Developer is in breach of clause 4.3of 5.2 of this Planning AgreementDocument; or Council notifies the Developer of a Defect in the Public Benefits within the Defects Liability Period, then, following written notice from Council, the Developer must promptly correct or replace (at the Developer’s expense) the defective elements of the Public Benefits. If the Developer is unable or unwilling to comply with clause 8.2(a9.2(a), or fails to rectify the Defect within three months of receiving notice from Council under clause 8.2(a9.2(a), Council may: rectify the Defect itself; make a claim on the Guarantee in accordance with clause 10 11 for the reasonable costs of Council in rectifying the Defect; and to the extent the costs incurred to rectify the Defect exceeds the Guarantee, recover the reasonable costs from the Developer as a debt due and owing to Council. If Council requires access to the Land to rectify any Defect, the Developer grants Council and its contractors a licence for such period as is necessary for Council and its contractors to access the Land to carry out, or procure the carrying out, of the rectification works. The Owner: consents to the registration of this Planning Agreement Document at the NSW Land Registry Services on the certificate of title/s title to the Land; warrants that it has obtained all consents to the registration of this Planning Agreement Document on the certificate of title/s title to the Land; and must within 10 Business Days of a written request from Council do all things necessary to allow Council to register this Planning Agreement Document on the certificate of title/s title to the Land, including but not limited to: producing any documents Documents or letters of consent required by the Registrar-General of the NSW Land Registry Services; providing the production slip number when the Owner Developer produces the certificate of title/s title to the Land at the NSW Land Registry Services; and providing Council with a cheque for registration fees payable in relation to registration of this Planning Agreement Document at NSW Land Registry Services. The Owner must act promptly in complying with and assisting to respond to any requisitions raised by the NSW Land Registry Services that relate to registration of this Planning AgreementDocument. Council may, at any time after the date of this Document, register a caveat over the Land preventing any dealing with the Land that is inconsistent with this Document. Provided that Council complies with this clause 10.2, the Owner must not object to the registration of this caveat and may not attempt to have the caveat removed from the certificate of title to the Land. In exercising its rights under this clause 10.2 Council must do all things reasonably required to: remove the caveat from the Land once this Document has been registered on the certificate of title to the Land; and consent to the registration of: this Document; and any plan of consolidation, plan of subdivision or other dealing required by this Document or the Development Consent. If Council is satisfied that the Developer and the Owner have provided all Public Benefits and otherwise complied with this Planning Agreement Document then Council must promptly do all things reasonably required to remove this Planning Agreement Document from the certificate of title/s title to the Land. The Developer must deliver the Guarantee for the Guarantee Amount to Council by the Guarantee Amount Due Date.