Before the Planning Board enacts final approval
of the subdivision plat, the subdivider shall follow the procedure
set forth in either Subsection A or B below:
A. In an amount set by the Planning Board, the subdivider
shall either file with the Town Clerk a certified check to cover the
full cost of the required improvements or the subdivider shall file
with the Town Clerk a performance bond to cover the full cost of the
required improvements. Said subdivider may also provide a letter of
credit The letter of credit shall be an irrevocable letter of credit,
and the town shall require that the letter of credit be presented
to a local confirming bank. The draft demand for payment shall be
accompanied by a sworn statement, signed by the appropriate official
of the town (Town Supervisor), stating that the developer is in default.
A period of one year (or such other period as the Planning Board may
determine appropriate, not to exceed three years) shall be set forth
in the bond within which required improvements must be completed.
B. The subdivider shall complete all required improvements
to the satisfaction of the Town Engineer, who shall file with the
Planning Board a letter signifying the satisfactory completion of
all improvements required by the Board. For any required improvements
not so completed, the subdivider shall file with the Town Clerk a
bond or certified check covering the costs of such improvements and
the cost of satisfactorily installing any improvement not approved
by the Town Engineer. Any such bond shall be satisfactory to the Town
Board and Town Engineer as to form, sufficiency, manner of execution
and surety.
C. The required improvements shall not be considered to be completed until the installation of the improvements has been approved by the Town Engineer and an as-built plan map satisfactory to the Planning Board has been submitted indicating the location of monuments marking all underground utilities as actually installed. If the subdivider completes all required improvements according to Subsection
B, then said map shall be submitted prior to endorsement of the plat by the appropriate Planning Board officer.
If at any time before or during construction
of the required improvements it is demonstrated to the satisfaction
of the Town Engineer that unforeseen conditions make it necessary
or preferable to modify the location or design of such required improvements,
the Town Engineer may, upon approval by the Planning Board, authorize
modifications, provided that these modifications are within the spirit
and intent of the Planning Board's approval and do not extend to the
waive or substantial alteration of the function of any improvements
required by the Board. The Town Engineer shall issue any authorization
under this section in writing and shall transmit a copy of such authorization
to the Planning Board at their next regular meeting.
The Planning Board may accept assurance from
each public utility company whose facilities are proposed to be installed.
Such assurance shall be in writing, addressed to the Board, stating
that such public utility company will make the installations necessary
for the furnishing of its services within a specified time, in accordance
with the approved subdivision plat.
Permanent monuments shall be set at block corners
and at the beginning and end of all curves and at such other points
are necessary to establish definitely all lines of the plat, except
those outlining individual lots. In general, permanent monuments shall
be placed at all critical points necessary to correctly lay out any
lot in the subdivision.