A.
Before the recording of final subdivision plats or
as a condition of final site plan approval, the approving authority
may require and shall accept in accordance with the standards adopted
by this chapter for the purpose of assuring the installation and maintenance
of on-tract improvements:
(1)
The furnishing of a performance guaranty in favor
of the Borough in an amount not to exceed 120% of the cost of the
installation for improvements it may deem necessary or appropriate,
including streets, grading pavement, gutters, curbs, sidewalks, streetlighting,
shade trees, surveyor's monuments, as shown on the final map and required
by the Map Filing Law, P.L. 1960, c.141 (N.J.S.A. 46:23-9.9 et seq.),
water mains, culverts, storm sewers, sanitary sewers or other means
of sewage disposal, drainage structures, erosion control and sedimentation
control devices, public improvements and landscaping, provided that
no more than 10% of the total performance guaranty shall be required
to be in cash, and the balance shall be in the form of a bond from
a bonding company approved by the Borough Council.
(2)
The furnishing of a maintenance guaranty to be posted
with the Borough Council for a period not to exceed two years after
final acceptance of the improvement, in an amount not to exceed 15%
of the cost of the improvement.
B.
The Borough Engineer shall review the improvements
required by the approving authority which are to be bonded and itemize
their cost. Said itemization shall be the basis for determining the
amount of performance guaranty and maintenance guaranty required by
the approving authority. The Borough Engineer shall forward his estimate
of the cost of improvements to the applicant within 30 days of the
date of receipt of a request sent by certified mail for said estimate.
C.
In the event that other governmental agencies or public
utilities automatically will own the utilities to be installed or
that the improvements are covered by a performance or maintenance
guaranty to another governmental agency, no performance or maintenance
guaranty, as the case may be, shall be required for such utilities
or improvements.
[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.
A.
The Borough Council shall either approve, partially
approve or reject the improvements on the basis of the report of the
Borough Engineer and shall notify the obligor, in writing, by certified
mail, of the contents of said report and the action of said approving
authority with relation thereto not later than 65 days after receipt
of the notice from the obligor of the completion of the improvements.
Where partial approval is granted, the obligor shall be released from
all liability pursuant to its performance guaranty, except for that
portion adequately sufficient to secure provisions of the improvements
not yet approved, provided that 30% of the amount of the performance
guaranty posted may be retained to insure completion of all improvements.
Failure of the Borough Council to send or provide such notification
to the obligor within 65 days shall be deemed to constitute approval
of improvements, and the obligor and surety, if any, shall be released
from all liability, pursuant to such performance guaranty for such
improvements.
[Amended 8-13-1991 by Ord. No. 7-91]
B.
If any portion of the required improvements is rejected,
the approving authority may require the obligor to complete such improvements,
and upon completion, the same procedure of notification, as set forth
in this section, shall be followed.
[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.
