As guaranty for the performance of the above requirements,
the developer shall deposit, as heretofore set forth, a surety bond,
negotiable government bonds, cash or a certified check in the amount
of 100% of the total construction cost. This amount shall be determined
by the Town Superintendent of Highways. Upon certification by the
Town Superintendent of Highways that the construction of the right-of-way
has been completed by the developer in accordance with the plan and
the Town specifications and after the Town Board has been satisfied
that the stipulated guaranties have been complied with, the Town Board
may release the bond, surety, cash or certified check to the developer
or his or her assigns, except that the Town Board shall require a
maintenance bond in the amount of 10% of the original road bond for
a period of one year from the date of such official completion as
guaranty that the developer shall maintain such completed right-of-way
as set forth herein. At the expiration of the one-year maintenance
period, the Town Board shall release such maintenance guaranty to
the developer or his or her assigns, provided that prior to such final
release of guaranty, the Town Board may deduct from such deposit all
just charges for any maintenance, exclusive of charges for plowing
of snow which the Town may have incurred for work on such right-of-way
during the one-year period. The Town Superintendent of Highways will
request a hold-harmless agreement for any damage done during winter
maintenance operations such as sanding, salting or plowing.