A.
No plat shall be finally approved unless the streets
shown have been improved as required by this chapter and any walkways,
curbs, gutters, fire hydrants, water mains, sanitary sewers, storm
drains and other improvements as may be required by this ordinance
have been constructed in a satisfactory manner and inspected by the
Township Engineer.
B.
Prior to offering any improvement to the Township,
the developer shall furnish a written guaranty (release of liens)
that all indebtedness incurred for supplies, material, labor furnished
or engineering and professional services in the construction or improvements
shall have been paid in full and that there are no claims for damage
or suits against the contractor involving such improvements.
In lieu of the completion of any improvements
required as a condition for the final approval of a plat, the Township
Council shall grant final approval prior to completion, provided that:
A.
The developer enters into an agreement with the Township
and a security agency guaranteeing that the improvements will be installed
in accordance with the plans and specifications approved by the Township
prior to plat approval. This agreement should set forth the responsibilities
of each party, the construction schedule, conditions for partial release
of security, inspection of work, definition of default and the developer's
right to appeal a default decision. This agreement shall also guarantee
that no lot will be sold or building constructed in any flood-prone
area prior to completion of all protective works or measures planned
for such lot and necessary access facilities.
B.
Simultaneous with the execution of the agreement specified
above, the developer shall provide the Township with a financial security
in an amount sufficient to guarantee the performance of this agreement
and to cover the costs of any improvements or common amenities, including
but not limited to stormwater detention and/or retention basins and
other related drainage facilities, recreational facilities, open space
improvements or buffer and screen plantings which may be required.
(1)
Without limitation as to other reasonable types of
financial security which the Township may approve, corporate bonds,
surety performance bonds, subdivision bonds, irrevocable letters of
credit and restrictive or escrow accounts shall be deemed acceptable
financial security for the purposes of this section. Such financial
security shall be posted with a bonding company or federal or commonwealth
chartered lending institution chose by the party posting the financial
security, provided that said bonding company or lending institution
is authorized to conduct such business within the commonwealth.
(2)
Such bond or other security shall provide for, and
secure to the public, the completion of any improvements which may
be required within one year of the date fixed in the plat for completion
of such improvements.
(3)
The amount of financial security shall be equal to
110% of the cost of the required improvements for which financial
security is to be posted. The cost of the improvements shall be established
by submission to the Township of a bona fide bid or bids from the
contractor or contractors chosen by the party posting the financial
security to complete the improvements, or, in the absence of such
bona fide bids, the cost shall be established by estimate prepared
by the Township Engineer. If the party posting the financial security
requires more than one year from the date of posting of the financial
security to complete the required improvements, the amount of financial
security may be increased by an additional 10% for each one-year period
beyond the first anniversary date from posting of financial security.
(a)
To help the Township to determine a bona fide
bid, the Township Engineer may be asked to review all cost figures
for accuracy.
C.
In the case where development is projected over a
period of years, the Township may authorize submission of final plats
by section or stages of development, subject to such requirements
or guaranties as to improvements in future sections or stages of development
as it finds essential for the protection of any finally approved section
of the development.
D.
If water mains or sanitary sewer lines, or both, along
with apparatus or facilities related thereto are to be installed under
the jurisdiction and pursuant to the rules and regulations of the
Township Water and Sewer Authority, financial security to assure proper
completion and maintenance thereof shall be posted in accordance with
its regulations and shall not be included within the financial security
as otherwise required by this section.
A.
As the work of installing the required improvements
proceeds, the party posting the financial security may request the
Township to release or authorize the release, from time to time, of
portions of the financial security, provided that:
(1)
Any such request shall be in writing and addressed
to the Township Council.
(2)
Such request shall occur at construction phases and for percents or amounts as specified in the agreement required at § 119-19A.
(3)
The Township shall have 45 days from receipt of such
request within which to allow the Township Engineer to certify, in
writing, that such portion of work has been completed in accordance
with the approved plat. Upon such certification, the Township Council
shall authorize release by the bonding company or lending institution
the amount as specified in the stated agreement.
(4)
If the Township Council fails to act within said forty-five-day
period, the Township shall be deemed to have approved the release
of funds as requested.
(5)
The Township may retain 10% of the financial security
until final inspection.
B.
Final release of the financial security shall be governed
as follows:
(1)
When the developer has completed all of the required
improvements the developer shall notify the Township, in writing,
by certified or registered mail, of the completion of the aforesaid
improvements and shall send a copy thereof to the Township Engineer,
together with a complete set of as-built drawings.
(2)
The Township Manager shall, within 10 days after receipt
of such notice, direct and authorize its Engineer to inspect all of
the required improvements.
(3)
The Engineer shall thereupon inspect all the required
improvements and shall file a report, in writing, with the Township,
and shall promptly mail a copy of the same to the developer by certified
or registered mail. The report shall be made and mailed within 30
days after receipt by the Engineer of the authorization for inspection
by the Township Council.
(4)
The report shall be detailed and shall indicate approval
or rejection of said improvements either in whole or in part, and
if said improvements or any portion thereof shall not be approved
or shall be rejected by the Engineer, said report shall contain a
statement of reasons for nonapproval or rejection.
(5)
The Township Council shall, within 30 days after receipt
of the Engineer's report, notify the developer, in writing, by certified
or registered mail, of the action of the Township with relation thereto.
(6)
If the Township or the Engineer fails to comply with
the time limitation provisions contained herein, all improvements
will be deemed to have been approved and the developer shall be released
of all liability, pursuant to the financial security.
(7)
If any portion of said improvement shall not be approved
or shall be rejected by the Township, the developer shall proceed
to complete the same and, upon completion, the same procedure of notification
as listed above shall be followed.
A.
In the event that any required improvements have not
been installed as provided in this chapter or in accord with an approved
final plat, the Township may enforce any improvement bond or other
security by appropriate legal and equitable remedies.
B.
If proceeds of such bond or other security are insufficient
to pay the cost of installing or making repairs or corrections to
all the improvements covered by said security, the Township may, at
its option, install part of such improvements in all or part of the
subdivision or land development and may institute appropriate legal
or equitable action to recover the moneys necessary to complete the
remainder of the improvements.
C.
All of the proceeds, whether resulting from the security
or from any legal or equitable action brought against the developer,
or both, shall be used solely for the installation of the improvements
covered by such security and not for any other municipal purpose.
A.
Where the Township is to accept dedication of all
or some of the required improvements following completion, the Township
shall require the posting of financial security to secure structural
integrity of said improvements as well as the functioning of said
improvements in accordance with the design and specifications as depicted
on the final plat for a term not to exceed 18 months from the date
of acceptance of dedication. Said financial security shall be of the
same type as otherwise required in this article with regard to installation
of such improvements, and the amount of the financial security shall
not exceed 15% of the actual cost of installation of said improvements.
B.
Such financial security shall be for the purpose of:
