Prior to the granting of final approval, the subdivider shall have installed or shall have furnished performance guaranties for the ultimate installation of the following:
A. 
Streets.
B. 
Street signs.
C. 
Curbs and/or gutters.
D. 
Sidewalks.
E. 
Streetlighting.
F. 
Shade trees.
G. 
Water mains, culverts, storm sewers and sanitary sewers. All such installations shall be properly connected with an approved system and shall be adequate to handle all present and probable future development. All of the above-listed improvements must comply with all local and county ordinances and/or resolutions and all state laws, regulations and requirements and shall be subject to inspection and approval by the Municipal Engineer, who shall be notified by the developer at least 24 hours prior to the start of construction. No underground installation shall be covered until inspected and approved by the Municipal Engineer.
H. 
Monuments shall be of the size and shape required by Section 4 of Chapter 358 of the Laws of 1953[1] and shall be placed in accordance with said statute.
[1]
Editor's Note: Chapter 358 of the Laws of 1953 was repealed by Chapter 141 of the Laws of 1960. For current provisions, see N.J.S.A. 46:23-9.10 et seq.
I. 
Topsoil protection. No topsoil shall be used as spoil. Existing topsoil moved during the course of construction shall be redistributed so as to provide at least six inches of cover on all unpaved areas of the subdivision and shall be stabilized by seeding or planting.
A. 
No final plat shall be approved by the Planning Board until the completion of such required improvements has been certified to the Planning Board by the Municipal Engineer, unless the subdivision owner shall have filed with the municipality a performance guaranty sufficient in amount to cover the cost of all such improvements or uncompleted portions thereof as estimated by the Municipal Engineer, and assuring the installation of such uncompleted improvements on or before an agreed date.
B. 
Such performance guaranty may be in the form of a performance bond which shall be issued by a bonding or surety company approved by the governing body, a certified check, returnable to the subdivider after full compliance, or any other type of surety approved by the Municipal Attorney.
C. 
The performance guaranty shall be approved by the Municipal Attorney as to form, sufficiency and execution. Such performance guaranty shall run for a period to be fixed by the Planning Board, but in no case for a term of more than three years. However, with the consent of the owner and the surety, if there be one, the governing body may, by resolution, extend the term of such performance guaranty for an additional period not to exceed three years. The amount of the performance guaranty may be reduced by the governing body by resolution when portions of the required improvements have been installed.
D. 
If the required improvements have not been installed in accordance with the performance guaranty, the obligor and surety shall be liable thereon to the municipality for the reasonable cost of the improvements not installed and, upon receipt of the proceeds thereof, the municipality shall install such improvements.
E. 
After the installation of all the required improvements, a maintenance bond shall be posted with the governing body of the Borough. The maintenance bond shall be with a surety company authorized to do business in the state or other guarantee acceptable to the Borough for the maintenance of all required improvements for a period of two years after the date of installation of all such improvements. The amount of the bond or other guarantee shall be 15% of the Borough Engineer's estimate of the cost of the original construction of such improvements.
[Added 12-6-2011 by Ord. No. 13.11]