Performance Guarantee: As a condition of site plan approval,
the Planning Board shall determine whether to require that a performance
bond, deposit of money, negotiable securities, or other such surety
acceptable to the Planning Board, be posted with the Town. This surety
is to cover costs of non-building construction, including, but not
limited to, any street disturbance, utilities, erosion control measures,
stormwater management measures, and other on-site or off-site improvements
which present a public health and safety hazard or nuisance if left
incomplete or improperly constructed. The Board may also require that
an amount be included for restoration of land disturbed during the
course of construction. The amount of security shall be determined
based on an estimate prepared by a professional cost estimator paid
for by the Applicant, which estimate may be confirmed or increased
by the Board. The Town may use the secured funds for their stated
purpose in the event that the applicant does not complete all improvements
in a manner satisfactory to the Board within two years from the date
of approval, or the final date of the last extension of such approval,
if any.