Prior to the issuance of a permit, the applicant shall file with the Township Clerk a performance guaranty in form and amount as specified by the Township Committee in conformance with the Township Engineer's recommendations and Township Attorney's approval as to form. The bond shall be conditioned as follows:
A. 
That the applicant shall complete the work authorized by the permit in conformity with the terms of the permit and the provisions of this chapter on or before the date of completion set forth in the application.
B. 
That the applicant shall repair any public streets, structures or land which may be damaged as a result of the work authorized by the permit.
C. 
That the applicant shall maintain the soil erosion control plan for two years after completion of a permanent improvement or for the life of a temporary improvement.
The performance guaranty shall be discharged after completion and approval of all work specified in the plan and may be discharged in part based on partial completion and approval at the direction of the Township Committee on recommendation of the Township Engineer.
All necessary soil erosion and sediment control measures installed under this chapter shall be adequately maintained for two years after final approval of such measures or until such measures are permanently stabilized as determined by the Construction Code Official.
The Township Committee may require a maintenance guaranty for a period not to exceed two years after final approval of the soil erosion and sediment control measures, in an amount not to exceed 15% of the cost of the improvement or permanent installation.