GUARANTEE BOND
GUARANTEE shall be held for a minimum of one year after the final work inspection as a warranty guarantee. After one year, if the work in the Right-of-Way (R.O.W.) passes the final R.O.W. inspection the GUARANTEE shall be released. The payer is responsible to notify the City of any change of address from what is here listed. If the work does not pass the final R.O.W. inspection, the City will notify the payer of non-compliance, and the payer shall be responsible for resolving the non-compliance prior to the City releasing the GUARANTEE. If the payer does not remedy the non-compliance, it is agreed that the City shall have the right to use the GUARANTEE to remedy the non-compliance, and should these funds be insufficient, the payer shall pay the deficiency.
Please submit an estimated cost for the total work performed.
ESTIMATED COST CALCULATOR
Any item of work not listed on the table below shall be included in the list of items at a price agreed to by the applicant and City Engineer’s office. The applicant shall either:
- Post an irrevocable letter of credit issued by a bank authorized to do Business in the State of Utah or an out-of-state bank, provided that a bank authorized to do a Business in Utah in writing that it will honor the letter of credit naming Park City Municipal Corporation as the payee of funds drawn against the letter of credit and guaranteeing the availability or cash bond equal to the estimated total cost.
- Submit a cashier’s check equal to the estimated total cost.
MINIMUM TOTAL COST IS $2000