Prior to initiation of construction and prior to any site work, including clearing of vegetation, grading or earth removal, except that which is necessary for testing for wastewater disposal, the applicant shall be required to provide the Planning Board with the following:
A. 
Construction schedule. The applicant shall submit a schedule of the projected work by major categories of work to the Planning Board for review and approval eight weeks prior to the start of construction. The schedule shall be by calendar weeks and address each category in Article VI, Design and Construction Standards. The schedule shall be adjusted periodically to reflect the actual work progress and related modifications to the schedule.
B. 
Performance guarantee. Construction and installation of roadways, drainage, water supply, wastewater disposal, landscaping, utilities and other infrastructure associated with the development shall be secured by one, or in part by one and part by the other, of the following methods which may from time to time be varied by the applicant with the written consent of the Board. Said security shall be posted and approved by the Planning Board prior to any construction.
(1) 
Approval with covenant. The applicant shall file a duly executed covenant, which provides that no unit in an SHC may be sold until the ways and municipal services necessary to adequately serve such unit have been constructed and installed. Such covenant shall be approved as to form and manner of execution by the Planning Board and shall be recorded in the Registry of Deeds by the owner of record and shall run with the land.
(2) 
Approval with surety. A bank passbook or a deposit of money with an established bank or lending institution in an amount determined by the Board to be sufficient to cover the cost of all the improvements specified in Article VI hereof, or other form of surety acceptable to the Planning Board.
Upon completion of the work, or segments thereof servicing units in an SHC, or upon bonding of work remaining to be done, the Planning Board shall release units as appropriate from the covenant.
The Board may, from time to time, reduce the amount of any deposit held hereunder and the obligations of the parties thereto released by said Board in whole or in part. However, in no case shall the Town reduce the minimum surety amount to less than $10,000 until completion of all construction, improvements, acceptance and receipt of an as-built plan by the Town.
Before the Board will release the interest of the Town in a performance bond or deposit, or issue a release of covenant in the case where no bond is outstanding, the applicant shall file with the Board the following:
A. 
An as-built plan by a registered professional engineer or registered land surveyor, indicating all streets, walkways, storm drains, water mains, fire alarm system, gas mains and underground utilities, and their appurtenances have been constructed in accordance with the plans as approved. Where variations of the approved lines, grades and/or locations have been authorized by the Board or the Planning Board agent in the course of construction of the improvements, said variations shall be depicted upon the certified plan.
B. 
Written evidence from the Director of Public Works that the streets, signs, markers, bounds, monuments and drainage conform to the regulations in accordance with the approved plan.
C. 
Written evidence from the Department of Public Works Director that the mains and hydrants conform to the district specifications and the Board's regulations in accordance with the approved plan.
D. 
Written evidence from the Board of Health that the system for wastewater disposal conforms to the rules and regulations of that Board and is in accordance with the approved plan.
E. 
Written evidence from the Fire/EMS Chief that the plan conforms to the requirements, standards and specifications of that department.