[Amended 2-5-1987 by Ord. No. 87-6]
A. 
Unless otherwise provided for in these regulations and requirements under § 303-7 or 303-8, the applicant shall deposit with the Clerk prior to the start of construction a minimum sum as provided in Chapter 182, Fees, with each application for such opening permit, plus cost of engineering fees plus an additional sum of 10% of the estimated cost of the improvement or opening as filed under § 303-5 above.
B. 
The moneys so filed shall be used to pay the costs of engineering, inspection, legal services, unrepaired damages or other legitimate costs to the Township of Franklin assignable directly to the project. Within two months after completion and final approval of the project or opening, which also means two months after the expiration of the eighteen-month maintenance period specified in § 303-34 below, all unexpended moneys remaining shall be returned to the applicant, except for an additional amount as provided in Chapter 182, Fees, which shall be retained by the Township of Franklin as its final application fee.
The applicant may, in lieu of the above cash deposit, submit a surety bond in the same amount which, upon approval of the Franklin Township Attorney, shall have the same force and effect as a cash bond. Said bond shall by its terms provide for payment of any damages by or from acts of the permittee and save Franklin Township harmless from any suits at law or otherwise which may result directly or indirectly from the work performed under the permit. In the event this surety bond device is used, the bond will remain in effect and not be released until the costs and final fee calculated above under § 303-6 have been paid by the permittee to the Township of Franklin.
[Amended 2-5-1987 by Ord. No. 87-6]
Public utility corporations of the State of New Jersey may, in lieu of the above cash deposit (§ 303-6) or surety bond (§ 303-7), file a corporate bond on a yearly basis in an amount as provided in Chapter 182, Fees. Such corporation bond would cover all construction operations of the public utility corporation within the Township of Franklin, thereby exempting said utility from the necessity of filing cash or surety bonds for individual opening projects. However, such public utility corporations operating under the terms and protection of a corporation bond will still be required to make application for each opening permit, to file the minimum fee as provided in Chapter 182 and to pay all costs to the Township of Franklin as calculated under § 303-6.