No final plat or site plan shall be approved
by the approval by the Land Use Board or zoning permit issued by the
Zoning Officer or officials or agency authorized to issue said zoning
permits, until completion of all required improvements, as shown on
the approved preliminary plat or site plan or as set forth in the
resolution granting preliminary approval, shall have been so certified
to the Land Use Board by the Township Engineer, unless the developer
shall have filed with the Township a performance guaranty sufficient
form and in amount to cover the costs of all such improvements or
the uncompleted portions thereof as estimated by the Township Engineer
as provided by N.J.S.A. 40:55D-53, guaranteeing the installation of
such uncompleted improvements on or before a date to be specified
by the Land Use Board. Said performance guaranty shall also include
a provision guaranteeing the restoration of the any approved project
which is terminated after ground disturbance begins.
A.
The form of the performance guaranty required by § 120-102 of this chapter shall be subject to the review and approval of the Township Solicitor. Said performance guaranty shall be in an amount equal to 120% of the Township Engineer's estimate of the cost of construction of the required improvements.
B.
Any such guaranty shall be drawn in favor of the Township
of Deerfield and shall run for a period to be fixed by the Land Use
Board, but in no case for a term less than the time period of any
permit which is to be issued as a result of a guaranty's posting.
With the consent of the obligor and the surety agent, if there is
one, the Township Committee may, by resolution, extend the term of
such performance guaranty for an additional period of time. The amount
of the performance guaranty may be reduced by resolution of the Township
Committee when portions of the required improvements have been installed
to the satisfaction of the Township Committee and on the recommendation
of the Township Engineer for said improvements acceptance. All guaranties
submitted shall make specific reference to the terms and conditions
imposed by the Land Use Board and should identify the resolution or
other action taken by the Land Use Board for the purpose.
C.
If the use 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 competed or corrected, and
the Township may, either prior to or after the receipt of the proceeds
thereof, complete such improvements. Additionally, the performance
guaranty shall include a clause providing that in the event that an
development for which the performance guaranty was posted is started
and then abandoned by the developer prior to issuance of a building
permit, but after the start of site clearing and/or improvement installation,
the performance guaranty shall be used to restore the site sufficient
to allow its future use and stabilize any disturbance.
D.
All performance guaranties shall be submitted to the
Secretary of the Land Use Board. The Secretary of the Land Use Board
shall forward one copy of the guaranty to the Municipal Engineer,
who shall notify the Land Use Board and the Township Solicitor that
the performance guaranty is in sufficient amount to assure completion
of all required improvements.
E.
The Secretary of the Land Use Board shall forward
a copy of the performance guaranty to the Township Solicitor, who
shall review and approve same as to form and execution. The Township
Solicitor shall notify the Land Use Board as to the acceptability
of the performance guaranty in terms of its form and execution.
F.
Upon granting of final plat approval and after receipt
of an approved final plat or site plan, the Secretary of the Land
Use Board shall forward any performance guaranties posted with and
accepted by the Land Use Board to the Township Clerk for filing. Copies
of said notice of approval shall be sent to the Township Clerk, Solicitor
and Engineer.
G.
Reduction of performance guaranty as provided in Subsection B above and release of any performance guaranties posted in connection with a development review and approval by the Township Land Use Board or other approval authority shall be in accordance with the provisions of N.J.S.A. 40:55D-53, as amended.
Whenever the Land Use Board requires a developer
to post a maintenance guaranty, it shall be in accordance with the
following:
A.
The developer shall execute a maintenance guaranty
and post said guaranty with the Township in sufficient amount for
maintenance and repair of all improvements required to be installed
by the developer. The maintenance guaranty shall be for a period of
two years form the date of final acceptance of the improvement(s)
by resolution of the Township Committee, after recommendation of acceptance
by the Township Engineer, and its amount shall be equal to 15% of
the Township Engineer's estimate of the cost of construction of the
required improvement(s). The maintenance guaranty shall apply to such
repairs as may be necessitated by substandard original construction
or by damage by the developer in the course of development.
C.
All maintenance guaranties shall be submitted to the
Township Clerk. The Township Clerk shall forward one copy of the guaranty
to the Township Engineer, who shall notify the Township Committee
and the Township Attorney that the maintenance guaranty is in sufficient
amount as provided herein this section.
D.
The Township Clerk shall forward a copy of any maintenance
guaranty to the Township Attorney, who shall review and approve same
as to form and execution. The Township Attorney shall notify the Township
Committee as to the acceptability of the maintenance guaranty in terms
of form and execution.
E.
Upon acceptance of a maintenance guaranty, the Township Clerk shall notify the Secretary of the Land Use Board, who shall maintain a record of all guaranties received by the Township in connection with development review in accordance with the provisions of § 120-103F of this article.
F.
Release of a maintenance guaranty shall be by resolution
of the Township Committee, after recommendation of release of the
guaranty by the Township Engineer.
