A.
Before consideration of a final subdivision or site plan, the applicant will have installed the improvements required under Article VII or the applicant shall:
(1)
Have filed with the Township Clerk a performance guaranty in an amount estimated by the Township Engineer to be sufficient to cover 120% of all required improvements listed in Article VII and assuring the installation of all of such improvements on or before an agreed date; and
(2)
Have deposited with the Township Treasurer a sum determined by the Township Engineer and Board to be equal to the developer's proportionate share, determined in accordance with Article VII, § 168-17, of the cost of all off-tract improvements required in accordance with § 168-14 of Article VII.
[Amended 2-5-1980 by Ord. No. 816]
(a)
The performance guaranty shall be in the Township's
prescribed form of performance bond, on which the developer shall
be principal, and secured either by a bonding or surety company approved
by the governing body or by a certified, bank or cashier's check,
the proceeds of which shall be returnable to the developer without
interest after full compliance by the developer with all of the requirements
of this chapter.
(b)
The performance guaranty shall be approved by
the Township Attorney as to form, sufficiency and execution. Such
performance guaranty shall run for a period to be fixed by the Board,
but in no case for a term of more than three years. However, with
the consent of the developer and of the surety, if there be one, the
Township Committee may, by resolution, extend the term of such performance
guaranty for an additional period or periods, not to exceed, in the
aggregate, three years. 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.
B.
Inspection of improvements.
(1)
Upon substantial completion of all required appurtenant
utility improvements and the connection of the same to the public
system where applicable, the developer shall notify the Township Committee
in writing, by certified mail addressed in care of the Township Clerk,
of the completion or substantial completion of improvements and shall
send a copy thereof to the Township Engineer. Thereupon the Township
Engineer shall inspect all improvements of which such notice has been
given and shall file a detailed report in writing with the governing
body, indicating either approval, partial approval or rejection of
such improvements, with a statement of reasons for any rejection.
The cost of the improvements, as approved or rejected, shall be set
forth.
[Amended 2-5-1980 by Ord. No. 816]
(2)
The Township Committee shall either approve, partially
approve or reject the improvements on the basis of the report of the
Township Engineer and shall notify the developer 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 developer of the completion of the improvements.
Where partial approval is granted, the developer shall be released
from all liability pursuant to its performance guaranty except for
that portion adequately sufficient to secure provision of the improvements
not yet approved; provided that 30% of the amount of the performance
guaranty posted may be retained to ensure completion of all improvements.
Failure of the Township Committee to send or provide such notification
to the developer within 65 days shall be deemed to constitute approval
of the improvements, and the developer and surety, if any, shall be
released from liability pursuant to such performance guaranty for
such improvements.
[Amended 2-5-1980 by Ord. No. 816]
(3)
If any portion of said improvements shall not be approved
or shall be rejected by the Township Committee, the developer shall
cause the same to be completed, and, upon completion, the same procedure
of notification as outlined herein shall be followed.
(4)
Nothing herein, however, shall be construed in limitation
of the developer's right to contest or question by legal proceedings
or otherwise any determination of the Township Committee or the Township
Engineer.
(5)
The developer shall be responsible for all of the
inspection fees incurred by the Township Engineer and/or sewer consultant
in making the foregoing inspections. The deposit required of the developer
for said inspections shall be 6% of the estimated improvements costs
as determined for the performance bond.
[Amended 2-5-1980 by Ord. No. 816; 12-30-1985 by Ord. No.
975]
(6)
Nothing herein shall affect the obligation of any
person relating to the posting of appropriate maintenance bonds, when
required.
C.
If the required improvements have not been completed
or corrected in accordance with the performance guaranty, the developer
and surety shall be liable thereon to the Township for the reasonable
cost of the improvements not completed or corrected, and the Township,
either before or after receipt of the proceeds of any performance
guaranty, shall install such improvements. No construction permit
or certificate of occupancy shall be issued until all improvements
are completed to the satisfaction of the Township Committee.
D.
Upon certification by the Township Engineer that the
improvements have been installed and completed in accordance with
the performance guaranty, and under tender by the developer of a proper
maintenance guaranty bond, the Township Committee shall, by resolution,
accept said improvements and discharge the developer and surety from
all liability arising out of the performance guaranty.
E.
Said maintenance guaranty bond shall be subject to
the approval of the Township Attorney as to form, sufficiency and
execution; shall be in such amount as the Township Engineer shall
prescribe but not to exceed 15% of the cost of improvements of the
orignal installation; and shall be conditioned upon the maintenance
of all of said improvements in good condition and repair for a period
of two years next following the date of adoption of the aforesaid
resolution of acceptance.
