In cases where a developer of a property subdivision plans the construction
of sewer laterals in the streets of the development, said developer
shall furnish, at the time the plans for such laterals, as submitted
for approval, a maintenance bond, issued by a bonding company acceptable
to the Borough Engineer and of a value of five percent (5%) of the
estimated cost of the proposed sewers, but in no case for less than
one thousand dollars ($1,000.), guaranteeing for a term of one (1)
year the correction of any defects in the sewer system, including
leaks, excessive infiltration in the street sewers, manholes and building
sewers, upon written notice of such defects from the Borough Engineer.