Chapter 21.10
DEFINITIONS
Sections:
21.10.050 Financial guarantee.
21.10.010 Applicant.
“Applicant” means the person or entity who is required to post the financial guarantee. [Ord. 99-0058 § 1; Ord. 98-0020 § 1 (KCC 27A.20.010).]
21.10.020 Default.
“Default” means the failure to:
A. Comply with financial guarantee conditions;
B. Complete, in the specified time, the required improvements in accordance with this code and with approved project plans and conditions; or
C. Maintain, for the specified period of time, the required improvements in accordance with this code and with approved project plans and conditions. [Ord. 99-0058 § 1; Ord. 98-0020 § 1 (KCC 27A.20.020).]
21.10.030 Department.
“Department” means the City of Kenmore department of community development or its successor organization. [Ord. 99-0058 § 1; Ord. 98-0020 § 1 (KCC 27A.20.030).]
21.10.040 Director.
“Director” means the director of the City of Kenmore department of community development or his or her designee. [Ord. 99-0058 § 1; Ord. 98-0020 § 1 (KCC 27A.20.040).]
21.10.050 Financial guarantee.
“Financial guarantee” means a form of financial security posted to ensure timely and proper completion of improvements, to ensure compliance with this code, and/or to warranty materials, workmanship of improvements, and design. Financial guarantees include assignments of funds, cash deposits, surety bonds, and/or other forms of financial security acceptable to the director. For the purposes of this title, the terms “performance guarantee,” “maintenance guarantee” and “defect guarantee” are considered subcategories of financial guarantee. [Ord. 99-0058 § 1; Ord. 98-0020 § 1 (KCC 27A.20.050).]
21.10.060 Guarantor.
“Guarantor” means a bank or other acceptable entity which issues the financial guarantee. [Ord. 99-0058 § 1; Ord. 98-0020 § 1 (KCC 27A.20.060).]