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.
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.