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.
A. 
The performance bond estimate shall be prepared by the Village Engineer (see § 238-8D).
B. 
The Planning Board shall pass a resolution either approving or adjusting that performance bond estimate and shall provide three copies signed by the Chairman for the use of the subdivider in obtaining and posting a bond.
C. 
The subdivider shall present three copies of the performance bond executed on the standard performance bond form, with signed copies of the performance bond estimate attached, to the Village Attorney at least one week prior to any Village Board meeting, for approval as to form and sufficiency by the Village Board at such meeting. A certified check in the amount of the cash deposit and payable to the Village of the Branch shall be submitted to the Planning Board. The amount of the certified check shall be determined as follows: $500 where the performance bond estimate is less than $10,000; $1,000 where the performance bond estimate is between $10,000 and $30,000; 4% of the performance bond estimate where the said estimate exceeds $30,000; however, in no event is the cash deposit to exceed $3,000. The performance bond is to be in the same amount as the performance bond estimate, less the amount of the certified check as stated aforesaid.
D. 
The Village Attorney shall notify the Village Clerk prior to the Village Board meeting so that consideration of and action on the performance bond and cash deposit can be added to the agenda.
E. 
The Village Board shall approve or disapprove the performance bond and cash deposit as presented by the Village Attorney. If approved, the cash deposit is to be forwarded to the Village Treasurer, to be deposited in a Village of the Branch trust account set up for this purpose, and one copy of the performance bond is to be forwarded to the Village Clerk for his records and one copy shall be forwarded, along with the Village Board resolution of approval, to the Planning Board.
F. 
The Chairman of the Planning Board shall receive the Village Board resolution approving the performance bond and cash deposit prior to signing any final plat.
G. 
After completing the construction of the public improvements covered by the performance bond and cash deposit, and prior to the termination of the bond and cash deposit period, the subdivider shall prepare a set of the approved public improvement plans, drainage plans and profiles (litho prints on vellum), amended to indicate "as constructed" information, and forward them to the Village Engineer. Further, the developer shall forward to the Village Attorney an original and two copies of papers dedicating the public improvements, granting of easements, etc. [see § 238-8A(8)] for his subdivision. Upon the Village Attorney's approval of the form of the dedication papers and easements, the Village Engineer and the Village Highway Superintendent shall, within 90 days after such approval, jointly prepare a report to the Village Board, with a copy of it to go to the Planning Board, on the condition of the work, and recommend whether or not the performance bond and cash deposit shall be released. If winter weather conditions prohibit the inspection and the written report, the ninety-day period may be extended for an additional 60 days by the Village Board. When, in the Village Engineer's and Village Highway Superintendent's opinion, extension of the bond is warranted, they shall make a recommendation to that effect to the Planning Board, with a copy thereof to go to the Village Board.
H. 
Completion of public improvements; cost.
(1) 
In the event that the public improvements covered by the performance bond and cash deposit have not been constructed to the satisfaction of the Village Engineer and Village Highway Superintendent, they shall forward, within 30 days of the inspection, a written report jointly signed by representatives of their departments to the subdivider, giving him a period of six months or less within which time he has to complete the said public improvements to their satisfaction. If, upon the expiration of this period, the public improvements have still not been completed to the satisfaction of the said Village Engineer and Village Highway Superintendent, or additional items are uncovered which are incomplete, a second written report will be sent to the subdivider wherein he will be given 45 days or less to complete the enumerated items. If, at the expiration of the second period, the public improvements still have not been completed to the satisfaction of the Village Engineer and Village Highway Superintendent as stated aforesaid, then the Village Board may declare the performance bond and cash deposit in default.
(2) 
If the cost of completing the public improvements is less than that of the cash deposit, the Village Board may utilize the moneys deposited by the subdivider in the Village of the Branch trust account set up for this purpose. At the Village Board's discretion, the actual work in completing the public improvements may be performed by one of the Village's departments or by an outsider selected by public bid. Should the cost of completion be less than that of the cash deposit, then the remaining balance is to be returned to the subdivider upon the Village Board's final acceptance of dedication of the public improvements in the subdivision and release of the performance bond.
(3) 
In the event that the cost of completion of the public improvements is equal to or in excess of that of the cash deposit, the Village Board may utilize the moneys deposited in the trust account set up for this purpose as well as declare the performance bond in default. Further, should plans and specifications be required to ascertain the cost of placing the completion of the public improvements out for bid, the cost of preparing the said plans and specifications may be taken out of the cash deposit.
I. 
The Planning Board can act to extend the term of the performance bond and cash deposit in appropriate cases where such action would not be contrary to the intent of this regulation.
J. 
The Village Board shall act on the release of, on the declaration of default, or on the effectuation of Subsection H as to the performance bond and cash deposit, provided that neither of the latter two eventualities shall be brought into effect prior to the expiration date or any extension thereof of the said performance bond and cash deposit.
[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.