A maintenance guaranty covering all improvements installed pursuant to Article 57 of this chapter shall be posted with the Borough Council for a period of two years after approval and/or acceptance of such improvements. The amount of such guaranty shall not exceed 15% of the total cost of such improvements. In the event that other governmental agencies or public utilities will automatically own the utilities to be installed or the improvements are covered by a maintenance guaranty to another governmental agency, no maintenance guaranty shall be required by the Borough for such utilities or improvements.
The Borough Council shall approve the maintenance guaranty after
it is reviewed by the Borough Engineer and the Borough Attorney as
to its form, sufficiency and execution. The maintenance guaranty shall
be expressly conditioned on the repair, correction of defects, replacement
or restoration of an improvement or any part thereof, whenever defects
appear during the period of obligation for maintenance, regardless
of whether the defects arise from faulty materials, poor workmanship
or from natural causes. Maintenance shall also include the plowing
of snow on streets or portions of streets not yet accepted by the
Borough in order that vehicular access is at all times provided to
buildings or lots for which zoning permits for occupancy have been
issued.
