A. 
Improvements requiring guaranty.
(1) 
Required improvement. Before final approval is issued for any site plan or before the final subdivision plat is approved, the applicant shall have furnished performance guaranties for the installation of all required improvements which have not been completed and approved by the Township Engineer.
[Amended 6-2-1997]
(2) 
Residential condominium ownership. Performance guaranties in accordance with the provisions of Subsection A(1) shall be required for site plan improvements where residential condominium ownership is proposed and may be required for other types of site plans where necessary to protect the interest of the public. Such guaranties shall be approved by the Mayor and Council prior to the issuance of a building permit.
(3) 
Soil erosion and site restoration. Prior to the commencement of any work on the site, the applicant shall furnish a cash guaranty to insure the implementation of required soil erosion control measures and to provide for the restoration of the site in the event that the project is abandoned. The cash guaranty shall be in an amount satisfactory to the Township Engineer and shall be approved by the Mayor and Council.
B. 
Amount of guaranty. The performance guaranty shall be furnished in favor of the Township in an amount equal to 120% of the cost of installation for improvements it may deem necessary or appropriate as specified in Subsection A.
C. 
Extension of time for installation. The time allowed for installation of the improvements for which the performance guaranty has been provided may be extended by the Planning Board and the Township Council by resolution. As a condition or as part of any such extension, the amount of any performance guaranty shall be increased or reduced, as the case may be, to an amount not to exceed 120% of the cost of the installation, as determined as of the time of the passage of the resolution.
D. 
Failure to complete improvements. If the required improvements are not completed or corrected in accordance with the performance guaranty, the obligor and surety, if any, shall be liable thereon to the Township for the reasonable cost of the improvements not completed or corrected, and the Township may, either prior to or after the receipt of the proceeds thereof, complete such improvements.
E. 
Procedure upon completion of improvements.
(1) 
Notice of completion report of Engineer. Upon substantial completion of all required appurtenant utility improvements and the connection of the same to the public system, the obligor may notify the Township Council, in writing and by certified mail addressed in care of the Township Clerk, of the completion of such improvements and shall send a copy thereof to the Township Engineer. Thereupon, the Township Engineer shall inspect all improvements of which such notice has been given and shall file a detailed report, in writing, with the Township Council indicating either approval, partial approval or rejection of such improvements, with a statement of reasons for any rejection. The cost of the improvements as approved or rejected shall be set forth.
(2) 
Approval by Council. The Township Council shall either approve, partially approve or reject the improvements on the basis of the report of the Township Engineer, with the advice and consent of the Planning Board, and shall notify the obligor, in writing and by certified mail, of the contents of the report and the action of the Planning Board, with relation thereto, no later than 65 days after receipt of the notice from the obligor of the completion of the improvements. Where partial approval is granted, the obligor shall be released from all liability pursuant to its performance guaranty, except for that portion adequately sufficient to secure provision of the improvements not yet approved, provided that 30% of the amount of the performance guaranty posted may be retained to ensure completion of all improvements. Failure of the Township Council to send or provide such notification to the obligor within 65 days shall be deemed to constitute approval of the improvements, and the obligor and surety, if any, shall be released from all liability pursuant to such performance guaranty for such improvements.
(3) 
Rejection by Council. If any portion of the required improvements is rejected, the Planning Board may require the obligor to complete such improvements and, upon completion, the same procedure as set forth in this subsection shall be followed.
(4) 
Appeal. Nothing herein, however, shall be construed to limit the right of the obligor to contest, by legal proceedings, any determination of the Township Council or the Township Engineer.
(5) 
Approval by stages. In the event that final approval is by stages or section of development, pursuant to N.J.S.A. 40:55D-38, the provisions of this section shall be applied by stage or section.
F. 
Form and term of guaranty. The performance guaranty shall be approved by the Township Council as to form, sufficiency and execution. Such performance guaranty shall run for a period to be fixed by the Planning Board. However, with the consent of the owner and the surety, if there is one, the Township Council may, by resolution, extend the term of such performance guaranty for an additional period not to exceed one year.
A. 
Requirements. Prior to acceptance of any improvement herein, a maintenance guaranty shall be furnished in favor of Chester Township for a period not to exceed two years after final acceptance of the improvement, in an amount not to exceed 15% of the cost of the improvement.
B. 
As-built drawings. Simultaneously with the submission of a maintenance guaranty, the applicant shall file with the Township as-built drawings accurately showing the location, profile and size of all storm drains, catch basins, sanitary sewers, water mains and all utility and service connections constructed in the subdivision or site plan.
In the event that other governmental agencies or public utilities automatically will own the utilities to be installed, or the improvements are covered by a performance or a maintenance guaranty to another governmental agency, no performance or maintenance guaranty, as the case may be, shall be required by the Township for such utilities or improvements.