[Amended 8-13-1991 by Ord. No. 7-91]
The time allowed for installation of the improvements
for which the performance guaranty has been provided may be extended
by the Borough 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.
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 Borough for the
reasonable cost of the improvements not complete or corrected, and
the Borough may, either prior to or after the receipt of the proceeds
thereof, complete such improvements.
[Amended 8-13-1991 by Ord. No. 7-91]
Upon substantial completion of all required
appurtenant utility improvements and the connection of the same to
the public system, the obligor may notify the Borough Council, in
writing, by certified mail addressed in care of the Municipal Clerk,
of the completion or substantial completion of improvements and shall
send a copy thereof to the Municipal Engineer. Thereupon the Municipal
Engineer shall inspect all improvements of which such notice has been
given and shall file a detailed report, in writing, with the Borough
Council, indicating either approval, partial approval or rejection
of such improvements with a statement of reason for any rejection.
The cost of the improvements as approved or rejected shall be set
forth.
[Amended 8-13-1991 by Ord. No. 7-91]
A final inspection of all improvements and utilities
will be done by the Board Engineer to determine whether the work is
satisfactory and in agreement with approved final plat drawings and
the Borough's specifications. The general condition of the site shall
also be considered. Upon a satisfactory final inspection report, action
will be taken to release or declare in default the performance guaranty
covering such improvements and utilities. Occupancy permits will only
be issued after the Board Engineer has conducted his inspection and
confirmed to the administrative officer that the installation of any
curbs, all utilities, all functioning water supply and sewerage treatment
facilities, all necessary storm drainage to ensure proper drainage
of the lot and surrounding land, rough grading of lots, base course
for the driveway and base course for the streets are installed to
serve the lot and structure for which the permit is requested. The
obligor shall deposit with the Borough all of the reasonably anticipated
fees, as estimated by the Borough Engineer for the foregoing inspections
of improvements.