The Planning Board shall not finally approve
any subdivision unless the developer shall post a maintenance guaranty
absolutely guaranteeing all improvements. Said guaranty may be in
the nature of a surety bond with guaranties running to the Township
of Pemberton for the period of building construction or a period of
one year, whichever shall be the longer, said period to commence on
the date of said final approval. By posting such a guaranty the developer
does assume absolute maintenance responsibility for all improvements
in the subdivision, and should defects arise therein from any cause
whatever, the developer shall be responsible for the correction of
said defects and the improvement shall be repaired so as to conform
to the requirements of this chapter.
A. If at the expiration of the term aforesaid the Township
Engineer shall certify to the Township Committee that all improvements
have been maintained to the standards required by this chapter, then
the guaranty so posted shall be promptly discharged upon resolution
of the Township Committee.
B. In the event defects in the improvements should arise
during the term aforesaid from any cause whatever, the Township Engineer
shall so notify the developer of the defects and the developer shall
be required to make correction thereof within 15 days of the notification.
In the event that correction is not made, then upon certification
by the Township Engineer the Township Committee by resolution may
authorize the correction to be made through the offices of the Township
Engineer and the amount required to make such correction shall be
sought from the maintenance guaranty so posted.
All required improvements shall be offered for
dedication to the Township of Pemberton. Said required improvements
shall be determined prior to approval of the preliminary plat.