Prior to endorsement of the definitive plan, the applicant shall
provide subdivision surety in accordance with MGL c. 41, § 81U,
Paragraph 7, and Appendix I, Forms E-1 through E-5.
All surety shall conform to the requirements of MGL c. 41, § 81U,
Paragraph 7, and Appendix I, Forms E-1 through E-5. Letters of credit
are not acceptable. The form of the surety shall be acceptable to
the Planning Board in consultation with Town Counsel and the Town
Treasurer-Collector.
A. A covenant form of surety shall be executed by the applicant, all
owners of record and any and all mortgagees. Such covenant shall state
that the improvements shown on the definitive plan shall be completed
not later than three years from the date of the endorsement of the
definitive plan. Failure to so complete the improvements shall result
in the automatic rescission of the approval of the definitive plan
by the Planning Board, unless the Planning Board extends said period,
for good cause shown, after the written request of the applicant prior
to the expiration of said period. The covenant shall be referenced
on the definitive plan prior to recordation in the Registry of Deeds.
The applicant, after recording, shall promptly send a copy of the
covenant, showing the Registry book and page number, to the Planning
Board.
B. All surety instruments, other than covenants not to build, shall
be accompanied by a separate surety agreement that has been executed
by the applicant, all owners of record and all mortgagees and that
shall detail the rights and obligations of the various parties and
assign the proceeds of the surety to the Town of Norwell, by and through
the Planning Board, in the event of a default and provide an easement
to the Town to allow the work shown on the endorsed definitive plan
to be performed, creating the right to perform such work, but not
an obligation. The amount of the surety instrument shall be approved
by the Planning Board and the form of the surety instrument shall
be approved as to form by the Planning Board and Town Counsel and
be acceptable to the Town Treasurer-Collector. The surety instrument
shall provide that the required improvements shown on the endorsed
definitive plan shall be completed not later than three years from
the date of the endorsement of the definitive plan. Failure to so
complete shall result in the automatic rescission of the approval
of the definitive plan by the Planning Board, unless the Planning
Board extends said period, for good cause shown, after the written
request of the applicant prior to the expiration of said period after
holding a public hearing with notice.
All performance bonds shall contain the following provision:
If the Principal shall fully and satisfactorily observe and
perform in accordance with the qualifications and time schedule set
forth herein specified all the covenants, agreements, terms and provisions
set forth in the following:
1.
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The application for definitive plan approval (Form C);
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2.
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The Subdivision Control Law and the rules and regulations of
the Norwell Planning Board that govern this subdivision [dated: (insert
date: _______)];
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3.
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The decision of the Planning Board dated _______ and attached
hereto as Exhibit A; and
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4.
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The definitive plan, as approved and endorsed by the Planning
Board in the decision;
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then this obligation shall be void; otherwise, it shall remain
in full force and effect and the aforesaid sum shall be payable to
the Town of Norwell, by and through the Planning Board, as liquidated
damages in the event of a default.
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The Planning Board may require, prior to the endorsement of
the definitive plan, a supplemental covenant containing those conditions
of approval that are intended to survive the release of the surety
covenant. Such covenant shall be approved as to form by the Planning
Board and, as necessary, Town Counsel. Such covenant shall be executed
and duly recorded by all of the owners of record and any mortgagees
and shall run with the land. The covenant shall be referenced on the
definitive plan prior to recordation in the Registry of Deeds. The
applicant shall, after recording, promptly send a copy of the covenant,
showing the Registry book and page number, to the Planning Board.
The Planning Board may require a maintenance bond in the following
circumstances or for the following purposes:
A. Roadways and improvements. A maintenance bond shall be required when
construction is completed or at the time of release of any performance
guarantee to ensure the maintenance of the roadways, required plantings,
utilities, and other improvements for a period of up to 20 years.
B. Drainage systems. A maintenance bond shall be required for a period
of not less than 20 years to ensure the maintenance of any aspect
of an approved drainage system, including catch basins and detention
ponds. This requirement may be waived upon presentation of satisfactory
evidence that a homeowners' association has been created that mandates
membership by all property owners in the subdivision and that the
association is properly funded. The purpose of this requirement shall
be to prevent flooding of property and Town-maintained streets. (See
homeowners' association condition of approval.)
The penal sum of any such security, or the amount of any deposit held under §
302-10.1, may, from time to time, be reduced by the Planning Board and the obligations of the parties thereto released by the Planning Board in whole or in part. If release is by reason of covenant, a new plan of the portion to be subject to the covenant may be required in addition to all of the requirements for a covenant previously set forth.