Before the recording of final subdivision plats or as a condition
of final site plan approval or as a condition to the issuance of a
zoning variance, the approving authority may require and shall accept
for the purpose of assuring the installation and maintenance of on-tract
improvements:
A. The furnishing of a performance guaranty in favor of the municipality
in an amount not to exceed 120% of the cost of installation for improvement,
gutters, curbs, sidewalks, streetlighting, shade trees, surveyor's
monuments, as shown on the final map and required by the Map Filing
Law, N.J.S.A. 46:26B-1 et seq., water mains, culverts, storm sewers,
sanitary sewers or other means of sewage disposal, public improvements
of open space and, in the case of site plans only, other on-site improvements
and landscaping.
B. Provisions for a maintenance guaranty to be posted with the governing
body for a period not to exceed two years after final acceptance of
the improvements, in an amount not to exceed 15% of the cost of improvements.
(1)
The time allowed for installation of the improvements for which
the performance guaranty has been provided may be extended by the
governing body by resolution. As a condition or as part of any such
extension, the amount of any performance guaranty shall be increased
or reduced, as the case may be, to an amount not to exceed 120% of
the cost of the installation as determined as of the time of the passage
of the resolution.
(2)
If the required improvements are not completed or corrected
in accordance with the performance guaranty, the obligor and surety,
if any, shall be liable thereon to the municipality for the reasonable
costs of the improvements not completed or correct, and the municipality
may, either prior to or after the receipt of the proceeds thereof,
complete such improvements.
(3)
Upon substantial completion of all required appurtenant utility
improvements and the connection of same to the public system, the
obligor may notify the governing body in writing, by certified mail
addressed in care of the Municipal Clerk, of the completion or substantial
completion of the improvements and shall send a copy thereof to the
Municipal Engineer. Thereupon the Municipal Engineer shall inspect
all improvements of which such notice has been given and shall file
a detailed report, in writing, with the governing body, indicating
either approval, partial approval or rejection of such improvements
with a statement of reasons for any rejection. The cost of the improvements
as approved or rejected shall be set forth.
(4)
The governing body shall either approve, partially approve or
reject the improvements, on the basis of the report of the Municipal
Engineer and shall notify the obligor in writing, by certified mail,
of the contents of said report and the action of said approving authority
with relation thereto not later than 45 days after receipt of the
notice from the obligor of the completion of the improvements. Where
partial approval is granted, the obligor shall be released from all
liability pursuant to its performance guaranty except for that portion
adequately sufficient to secure completion of the improvements not
yet approved, provided that 30% of the amount of the performance guaranty
posted may be retained to ensure completion of all improvements. Failure
of the governing body to send or provide such notification to the
obligor within 45 days shall be deemed to constitute approval of the
improvements, and the obligor and surety, if any, shall be released
from all liability pursuant to such performance guaranty for such
improvements.
(5)
If any portion of the required improvements is rejected, the
approving authority may require the obligor to complete such improvements,
and upon completion, the same procedure of notification as set forth
in this section shall be followed.
(6)
Nothing herein, however, shall be construed to limit the right
of the obligor to contest by legal proceedings any determination of
the governing body or the Municipal Engineer.
(7)
The obligor shall reimburse the municipality for all reasonable
inspection fees paid to the Municipal Engineer for the foregoing inspection
of improvements, provided that the municipality may require of the
developer a deposit for all or a portion of the reasonably anticipated
fees to be paid to the Municipal Engineer for such inspection.
(8)
In the event that final approval is by stages or sections of
development pursuant to N.J.S.A. 40:55D-38, the provisions of this
section shall be applied by stage or section.
(9)
Simultaneous with the submission of a maintenance guaranty,
the applicant shall file with the Borough as-built drawings accurately
showing the location, profile and size of all storm drains, catch
basins, sanitary sewers, water mains and all utility and service connections
constructed in the subdivision or site plan.
In the event that other governmental agencies or public utilities
automatically will own the utilities to be installed or that the improvements
are covered by a performance or a maintenance guaranty to another
governmental agency, no performance or maintenance guaranty, as the
case may be, shall be required by the Borough for such utilities or
improvements.
All improvements listed in Articles
IX and
X shall be subject to inspection and approval by the Borough Engineer, who shall be notified by the applicant at least 24 hours prior to the start of construction. No underground installation shall be covered until inspected and approved.