The applicant shall be responsible for all costs incurred by
the Borough, or its professionals, agents, consultants and the like,
in connection with the approval and construction of a development
site as follows:
A. Such costs incurred shall include, but not be limited to, inspection,
review, completion, maintenance, engineering, legal, remedial, and
administrative;
B. In the sole discretion and judgment of Borough Council, review, inspection
and other fees and costs of the Borough and the Borough's professionals,
agents, consultants and the like, as well as costs of construction,
completion, repair and maintenance, may be secured by one or more
escrow accounts on such terms and in such amounts acceptable to the
Borough, or by bonds in such amounts and issued by bonding companies
acceptable to the Borough, or by such other financial security acceptable
to the Borough;
C. In the case of any escrow account, interest earned on amounts held
therein, if any, shall be credited to such escrow account;
D. Replenishment of such escrow accounts or renewal of such bonds or
other financial security may be required by the Borough from time
to time in such amounts as shall be determined by the Borough; and
E. Failure to establish, maintain and replenish such escrow accounts,
or failure to procure, maintain and renew such bonds or other financial
security, shall be cause for all processing of an applicant's
grading permit hereunder, or construction pursuant thereto, to cease;
provided, however, that if such construction is completed at the time
of such failure, such failure shall be grounds for an action by the
Borough against the property owners.