Improvement guarantees shall be provided prior
to the recording of final subdivision plats or as a condition of final
site plan approval to ensure the municipality of the proper installation
and maintenance of on-site and on-tract improvements.
Prior to the signing and recording of final
major subdivision plats and as a condition of final site plan approval
in the case of a site plan, the developer shall enter into an agreement
with the governing body if so required by the Planning Board. This
agreement shall be of a form that is acceptable to the Municipal Attorney
and one in which the developer agrees to abide by the terms and conditions
of approval, construct the required improvements in accordance with
the approved plans, agree to maintain the constructed improvements
including, but not limited to, payment of streetlighting charges pursuant
to N.J.S.A 40:55D-53.6, snow removal, maintenance of storm drainage,
sewer and water facilities. The developer also shall agree that in
the event the improvements are not maintained, the Borough can utilize
the cash portions of the performance guarantees to immediately attend
to items presenting a safety hazard.