[Amended 6-15-1987 by Ord. No. 87-517]
The developer shall be responsible in all cases for the installation of all required improvements which shall be approved by the Township. The developer shall submit a certificate stating that no lot will be sold or transferred unless and until the required improvements and installations have been completed and/or installed or until proper financial security as defined in § 145-34 has been provided for the completion and/or installation of such required improvements.
No plan shall be finally approved by the Board
of Supervisors until the streets shown on the plan have been approved
in accordance with the requirements of this chapter and until any
other improvements shown on the plan and required by this chapter
have been completed and/or installed in accordance with the requirements
of this chapter. In lieu of the completion and/or installation of
all such improvements, the Board of Supervisors may condition final
approval of the plan upon the developer providing for the proper completion
and/or installation of all improvements required by the plan. The
developer shall deposit with the Township financial security in an
amount equal to 110% of the cost of such improvements. Subject to
the approval of the Township, financial security shall be in the form
of a performance bond, certified check or equivalent security, including
irrevocable letters of credit and restrictive escrow accounts with
financial institutions authorized to conduct business within the Commonwealth
of Pennsylvania. Such bond or other security shall provide for and
secure the completion and/or installation of any improvements. The
method of determining the amount of such financial security, the length
of such financial security and the methods for the release of such
financial security shall be as specified in the Municipalities Planning
Code.
The recording of an approved final plan shall
have the effect of an irrevocable offer to dedicate all streets and
other public areas to public use but shall not constitute an offer
to dedicate those streets indicated as private streets on the plan.
The offer to dedicate streets, parks or other public areas or portions
of areas does not impose any duty upon the Township to accept the
dedicated streets or public areas or to maintain or improve the streets
or public areas until the Township has accepted the dedication by
ordinance. The offer to dedicate streets and public areas for public
use shall be so set forth on the record plan. When appropriate, the
Township shall require formal deeds of dedication to be executed by
the developer and recorded in the office of the Recorder of Deeds
of Montgomery County.
The Township shall not accept the dedication
of any street or other improvement unless the street or other improvement
has been completed and/or installed in compliance with the requirements
of this chapter and all other applicable Township ordinances. Prior
to the acceptance of a dedication by the Township of any improvement,
final inspection, including core sampling, where applicable, shall
be undertaken. The Township shall not accept dedication of any street
or other improvement unless the developer shall post with the Township
financial security to secure the integrity of said improvement as
well as the functioning of set improvement in accordance with the
designs and specifications set forth on the final plan. The amount,
the method of determining the amount of such financial security, the
length of such financial security and the method for determining the
release of such financial security shall be as set forth in the Municipalities
Planning Code.
The applicant shall pay fees and costs incurred
by the Township for the processing of plans, the inspection of facilities
and improvements and the drafting of any and all documents necessary
to carry out the terms of this chapter. Such fees and costs shall
be as set from time to time by the Board of Supervisors by ordinance
or resolution.[1]
