Prior to the commencement of any improvements
or operations at the subdivision site and prior to the issuance of
a building permit, a developer's agreement shall be entered into between
the subdivider and the Borough Council. Such agreement shall specifically
detail:
A. All items of public improvement to be performed by
the subdivider.
B. The amount of maintenance and performance bonds to
be furnished by the subdivider.
C. All other requirements and conditions of the Borough
Council.
D. All other items as agreed and stipulated between the
subdivider applicant and the Borough Council and the Planning Board.
Such agreement shall be in a form as approved by the Borough Attorney.
To ensure that all purchasers of building lots
in the subdivision have knowledge of the subdivider's obligations
concerning improvements and work to be performed in the subdivision,
the subdivider shall be required to provide copies of the following
documents to each contract purchaser of a building lot in the subdivision
prior to entering into a contract of sale with each purchaser of a
building lot:
A. A true copy of the Planning Board resolutions granting
preliminary and final approval of the subdivision application.
B. A true copy of the developer's agreement entered into
between the subdivider and the Borough.
C. A true copy of Chapter
218, Subdivision of Land, of the Code of the Borough of Old Tappan.
D. A list of all bonds and their purpose filed with the
Borough.
Prior to the issuance of a certificate of occupancy,
the subdivider or contractor shall be required to have filed written
proof with the Borough that the subdivider has complied with the notice
provisions of this article. Such written proof shall be in a form
satisfactory to the Mayor and Council.