A.
Prior to final plan approval for any subdivision or land development plan, the developer shall agree to construct or cause to be constructed all improvements shown on the final plan, including applicable criteria and requirements contained in § 160-5. In lieu of completion of actual construction of such improvements and as a condition of final plan approval, the Township Board of Commissioners shall require a cash deposit or such other security acceptable to the Board of Commissioners in an equal amount of 110% of the cost of all required improvements, as estimated by the Township Engineer. An additional 10% of the cost of all required improvements shall be deposited with the Township to assure payment of all inspection fees and/or legal fees in the completion of said improvements.
C.
If a developer proposed the phased dedication of open
space or the phased reservation of private open space or phased provisions
of recreational or community facilities in a proposed development
plan and such offers or proposals are scheduled for later or subsequent
final phase approval, the Township Board of Commissioners may require,
in advance of such phase approval, that such dedication, reservation
or provisions be guaranteed in a form acceptable to the Township.
D.
Required contracts. Before the Board of Township Commissioners
shall cause its approval to be endorsed upon the final plans of any
subdivision or land development and as a requirement for the approval
thereof, the owners shall enter into a written agreement with the
Township in the manner and form set forth by the Township Solicitor,
wherein they shall agree:
(1)
To construct or cause to be constructed, at the owner's
expense, all streets, curbs, sidewalks, fire hydrants, streetlights,
drainage facilities, street signs, monuments, capped sewers, parks
and other improvements shown on said final plan when required to do
so by the Board of Commissioners in accordance with the final plans,
as finally approved and in strict accordance with the standards and
specifications of the Township.
(2)
To maintain, at the owner's cost, said streets, curbs,
sidewalks, drainage facilities, street signs, parks, monuments, fire
hydrants, streetlighting, capped sewers and other improvements until
the same are accepted or condemned by the Township for public use
and for a period of 18 months thereafter to repair and reconstruct
the same or any part of one of them when such repair or reconstruction
shall be specified by the Board of Commissioners as necessary by reason
of faulty construction, workmanship or materials, at or before acceptance
of such improvements by the Township.
(3)
To install or cause be installed, at the owner's expense
and without any cost to the Township for any part of such installation,
streetlighting facilities on all streets within and abutting the subdivision,
where required.
(4)
To pay all costs, charges or rates of the utility
furnishing electric service for the lighting of the streets on or
abutting said subdivision from the lights installed by the owner until
such time as the streets shown on the subdivision plans shall be accepted
as public streets of the Township by resolution and to indemnify and
save harmless the Township from and against all suits, actions, claims
and demands for electric service to the streets shown on said plans
or any part thereof to the time that said streets shall be accepted
as public streets of the Township in the manner hereinabove set forth.
(5)
To pay the inspection fees required by the Township,
as may be amended from time to time.
(6)
To obtain the easements and releases required when
any street, drainage facility or other improvement within a subdivision
abuts or traverses lands of persons other than the person holding
legal title to the lands of the subdivision at his own cost and obtain
from the owner of the lands so abutted or traversed full releases
from all damages which may result from change in grade, construction
or otherwise of the street, drainage facility or other improvement,
and such releases shall inure to the benefit not only of the owner
of the subdivision but to the Township as well.
(7)
To promptly reimburse to the Township reasonable attorneys'
and engineers' fees incurred in connection with the preparation of
said agreement and services to ensure compliance therewith.
E.
Guaranty.
(1)
In order to assure the Township that the streets,
drainage facilities, curbs, sidewalks, street signs, fire hydrants,
streetlighting facilities, monuments, parks, capped sewers and other
improvements shown on said final plans, which the Board of Supervisors
shall require the owner to install, at his own expense, will be constructed
and installed in strict accordance with the plans as finally approved
and with the standards, regulations and specifications of the Township
and will be maintained until accepted or condemned by the Township,
the owner shall deposit with the Township funds in an amount sufficient
to cover costs, as estimated by the Township Engineer, of the construction
and installation of the aforesaid improvements and of lighting the
streets until the same shall be accepted by the Township, to be held
in escrow, or provide a deposit agreement with a reputable banking
institution in accordance with the terms of a written escrow agreement
prepared by the Township Solicitor which shall be entered into by
the owner, the Township and the escrow agency, if any. Such escrow
agreement shall provide that, as the work of constructing the required
public improvements progresses, the Township or escrow agent holding
said funds will release and refund to the order of the owner from
the funds deposited sums equivalent to the estimated value of work
completed, less a ten-percent retainer, upon delivery of a certificate
of completion signed by the owner, the subcontractor performing the
work, the Township Engineer and the Township Manager; otherwise said
funds are to be held by the Township or escrow agent to the benefit
and use of the Township in the event that the owner fails or neglects
to perform the terms provided for herein.
(2)
After the owner shall have completed all of the improvements
required by said escrow agreement and shall have received the final
payment provided under the aforementioned escrow agreement and shall
have received the final payment provided under the aforementioned
procedure and after the Board of Commissioners shall have accepted
the streets, facilities and other improvements as public streets,
public facilities and other improvements in the manner provided within
this chapter, the 10% remaining in the fund shall serve to guarantee
the maintenance, repair or reconstruction of said improvements by
the owner, for a period of 18 months thereafter, required under the
provisions of this chapter, and said remaining fund will, upon faithful
compliance with those provisions, be released and refunded to the
owners upon the signature of the Secretary of the Board of Commissioners.
(3)
The improvement guaranty, in the form of a deposit
agreement, shall be conditioned upon:
(a)
The owner constructing and installing or causing
to be constructed or installed, in strict accordance with the final
plans, as finally approved, and with the Township standards and specifications,
the streets, drainage facilities, curbs, sidewalks, street signs,
lighting facilities, monuments and parks and capped sewers shown on
said plan and such other improvements shown on said plans as the Board
of Commissioners may require the owner to construct or install.
(b)
The owner maintaining at his own cost said streets,
curbs, drainage facilities, sidewalks, street signs, parks, monuments,
capped sewers and other improvements until the same are accepted or
condemned by the Township for public use and for a period of 18 months
thereafter, repairing and reconstructing the same or any part of one
of them when such repair or reconstruction shall be specified as necessary,
by reason of faulty construction, by the Board of Commissioners.
(c)
The payment by the owner of the cost of lighting
the streets in the subdivision until such time as the same are accepted
as Township streets by resolution of the Board or by condemnation
proceedings.
(d)
The payment of the inspection fees required
by this chapter.
(e)
The faithful performance by the owner of the
contract provided for in this chapter.
At the request of the applicant/developer, the
Township shall furnish the applicant/developer with a signed copy
of a resolution indicating approval of the applicant/developer's final
plan contingent upon the applicant/developer obtaining a satisfactory
financial security. The final plan will not be signed by the Board
of Commissioners or other Township officials until a satisfactory
financial security is presented to the Township. The resolution of
contingent approval shall expire and be deemed to be revoked if the
financial security agreement is not executed within 90 days, unless
a written extension is granted by the Board of Commissioners.
