[Ord. 8/12/1999, § 7.1]
The applicant shall provide a financial guarantee to the Township for the timely installation and proper construction of all stormwater management controls as required by the approved drainage plan and this Part equal to the full construction cost of the required controls plus 15%. The purpose of the additional surety above the estimated construction cost is to cover the Township costs in the event of developer default since the Township would pay Pennsylvania prevailing wage rates by law. The surety amount shall be approved by the Township Engineer. In the event that the applicant is required to provide a financial guarantee for a subdivision or land development plan pursuant to Chapter
22, Subdivision and Land Development, then the financial guarantee required under this Part shall be included thereunder.