In order that the town has the assurance that the construction and installation of such improvements as storm sewer, public water supply, sewage disposal, road signs, sidewalks and road surfacing will be constructed, the subdivider shall enter into one of the following agreements with the town:
A. 
Construct all improvements directly affecting the subdivision as required by this chapter and by the Planning Board, prior to the final approval the plat.
B. 
In lieu of the completion of the improvements, furnish a bond executed by the surety company equal to the cost of construction of such improvements as shown on the plans and based on an estimate furnished by the applicant and approved by the Planning Board.
C. 
In lieu of the completion of improvements, deposit a certified check in sufficient amount equal to the cost of construction of such improvements as shown on the plans and based on the above estimate.
A. 
Before the final plat is approved, the developer shall have executed a subdivider contract with the town, and a performance bond or certified check shall have been deposited covering the estimated cost of the required improvements that have been designated by the Planning Board.
B. 
The performance bond or certified check shall be to the town and shall provide that the subdivider, his heirs, successors and assigns and their agent or servants will comply with all applicable terms, conditions, provisions and requirements of this chapter and will faithfully perform and complete the work of constructing and installing such facilities or improvements in accordance with such laws and regulations.
C. 
Any such bond shall require the approval of the Town Board and the Town Attorney as to form, sufficiency, manner of execution and surety.
D. 
Wherever a certified check is made, the same shall be made payable to the town.
The construction or installation of any improvements or facilities, other than roads, for which a guaranty has been made by the subdivider in the form of a bond or certified check deposit shall be completed within one year from the date of approval of the final plat. Road improvements shall be completed within two years from the date of approval of the final plat. The subdivider may request an extension of time, provided that he can show reasonable cause for inability to perform said improvements within the required time. The extension shall not exceed six months, at the end of which time the town may use as much of the bond or check deposit to construct the improvements as necessary. The same shall apply whenever construction of improvements is not performed in accordance with applicable standards and specifications.
When a certified check or performance bond is made pursuant to the preceding sections, the town and subdivider shall enter into a written agreement itemizing the schedule of improvements in sequence with the cost opposite each phase of construction or installation, provided that each cost as listed may be repaid to the subdivider upon completion and approval after inspection of such improvement or installation. However, 10% of the check deposit or performance bond shall not be repaid to the subdivider until one year following the completion, inspection and acceptance by the town of all construction and installation covered by the check deposit or performance bond as outlined in the subdivider's contract.
Periodic inspection during the installation of improvements shall be made by the Land Use Inspector to ensure conformity with the approved plans and specifications as contained in the subdivider's contract and this chapter. The subdivider shall notify the Land Use Inspector when each phase of improvements is ready for inspection. At least five days prior to commencing construction of required improvements, the subdivider shall pay to the Town Clerk the inspection fee required by the Town Board. Upon acceptable completion of installation and improvements, the Planning Board shall issue a letter to the subdivider or his representative, and such letter shall be sufficient evidence for the release by the town of the portion of the performance bond or certified deposit as designated in the subdivider's contract to cover cost of such completed work.
When the Land Use Inspector, following final inspection of the subdivision with the Town Superintendent of Highways, certifies to the Planning Board and the Town Board that all installation and improvements have been completed in accordance with the subdivider's contract, the Town Board may, by resolution, proceed to accept the facilities for which bond has been posted or check deposited.