In all cases, the subdivider shall be responsible
for the installation of all required improvements under the supervision
of the Town/Village Engineer and in the manner specified below.
No final plat shall be approved by the Board
until provision has been made for the proper installation of required
improvements in the following way:
A.
The developer's licensed professional engineer shall
submit an estimate of the cost of improvements. This shall be itemized
in detail to cover all dedicated improvements. The estimate shall
be submitted to the Town/Village Engineer for his approval.
B.
A letter of credit in the amount approved shall be
submitted to the Clerk-Treasurer.
C.
At such times as the developer wishes to have funds
released to cover work performed, the developer's engineer shall prepare
a statement of the work performed as of that date.
D.
The developer, after preparing such statement, shall
submit it for review, approval and signature by the Superintendent
and Engineer. The Clerk-Treasurer will then direct, in writing, to
the lending institution that the approved amount be released from
the letter of credit.
A.
The Town/Village may accept a two-year maintenance
bond in the value of 5% of the underground utilities, upon completion
and acceptance for operation of said underground utilities and placement
of the base and binder course, if the developer provides the Town/Village
with a temporary easement over the proposed right-of-way for purposes
of operation and maintenance of these underground utilities until
dedication occurs. Whereafter, retained moneys for the underground
utilities may be released from the letter of credit.
B.
Upon completion of the pavement and related items
and acceptance of dedication of the project, the Town/Village will
accept a two-year maintenance bond for the road improvements, including
top, binder, curbs and sidewalk, whereafter final moneys shall be
released from the letter of credit.
