A performance bond and cash deposit shall be posted by the subdivider
to guarantee to the Village that he will faithfully construct or cause
to be constructed the required public improvements and utilities which
are an integral part of his approved final plat, and, further, that
the construction shall be completed within a reasonable period of
time.
[Amended 2-12-1980 by L.L. No. 1-1980]
A. The cash deposit shall run concurrently with the performance bond,
and neither can be released without a Village Board resolution to
this effect.
B. Performance bonds and cash deposits shall have a minimum term of
two years. The term of any performance bond or cash deposit shall
commence upon final plat plan approval.
C. Upon petition to the Planning Board and after a duly advertised public
hearing upon said petition, said Board may consider the extension
of the performance period of a performance bond upon the petitioner's
proof of necessity or unusual or extenuating circumstances.
D. Each petition shall be accompanied by a filing fee, along with whatever
supporting papers, documents, maps or other material may be needed
to support the petition.
[Amended 3-9-2004 by L.L. No. 1-2004]
[Amended 9-14-1976 by L.L. No. 5-1976; 2-12-1980 by L.L. No. 1-1980]
A. Prior to the release of a performance bond and cash deposit, the
subdivider shall present a maintenance bond to guarantee the life
and growth, for a period of three years, of all trees and shrubbery
required to be planted by the original performance bond and cash deposit.
Additionally, the subdivider shall present a maintenance bond to guarantee
operating costs, replacement and/or repairs of all streetlights, streetlight
poles and power poles for a period of three years, less any streetlight
maintenance which the Village at its discretion may approve.
B. Where required by the Superintendent of Highways or the Village Engineer,
the subdivider shall provide a maintenance bond to guarantee the cleanliness,
for a period of three years, of the recharge basin required to be
installed by the original performance bond estimate. This bond shall
be presented prior to the release of the performance bond and cash
deposit.
C. Where required by the Superintendent of Highways, the Building Inspector
of the Village or the Village Engineer, the subdivider shall provide
a maintenance bond for roads not dedicated to the Village of the Branch
for a period of three years for completion of said roads and drainage
according to Village specifications, maintenance, cleanliness and
snow and debris removal. This bond shall be presented prior to the
release of the performance bond and cash deposit.
D. In this section, wherever a period of time for the life of a bond
is required, that period of measurement shall commence from the release
from performance bond and/or cash deposit.