[Ord. 3/6/1991, § 8.1; as amended by Ord. 263,
10/14/1998, § 1.D]
1. Before approving any subdivision or land development plan for recording,
the Board of Supervisors or Planning Commission, as the case may be,
shall require that the Township be assured (by means of a proper development
agreement and performance guarantee) that the improvements required
by this Chapter and the improvements appearing on the plan will be
installed in strict accordance with the standards and specifications
of this Chapter. Where an improvements agreement is required as part
of a minor plan approval by the Planning Commission, the improvements
agreement shall be executed by the Board of Supervisors and shall
be in a form acceptable to the Board.
2. Purpose of Bond. The bond and other surety agreements shall stand
as security for compliance with all Township ordinances, other laws,
covenants, stipulations, conditions and rules applicable to the subdivision
for which it is filed.
3. No construction of buildings or paving or sales of any individual
lot or condominium unit within a subdivision shall take place in any
subdivision unless there is on file, with the Township, a current
duly executed performance bond (and security escrow agreement if necessary),
or unless all rough grading is complete and all required public improvements,
utilities, streets, drainage easements, sewers and streetlights have
been completed and accepted by the Township Board of Supervisors.
4. If a developer chooses to install all required improvements prior
to any building, in place of using performance guarantees, the Township
shall as deemed necessary require the developer to have adequate insurance,
hold harmless agreements and an escrow account to cover the costs
of inspections.