A.
Purpose. A performance bond is posted by the subdivider
to guarantee to the Village that he or she will faithfully construct,
or cause to be constructed, the required public improvements and utilities
which were an integral part of his or her approved final plat; and
further, that the construction shall be complete within a reasonable
period of time.
B.
Procedure.
[Amended 10-6-2009 by L.L. No. 4-2009]
(2)
The Planning Board may pass a resolution requiring a performance
bond.
(3)
The subdivider shall present his or her performance bond executed
on the standard performance bond, with signed copies of the performance
bond estimate attached, to the Corporation Counsel at least one week
prior to any Village Board of Trustees meeting for approval as to
form and sufficiency by the Board of Trustees at such meeting.
(4)
The Board of Trustees shall approve or disapprove the performance
bond as presented by the Corporation Counsel. If the performance bond
is approved, one copy will be forwarded to the Village Clerk and Building
Department for their records and one copy will be forwarded with a
copy of the Board of Trustees' resolution to the Planning Board.
(5)
After completing the construction of the public improvements covered
by the performance bond, and prior to the termination of the bond
period, the subdivider shall prepare a set of the approved public
improvements and utilities plans and profiles amended to indicate
as-constructed information and shall apply to the Village Engineer
for a final inspection of the work. The Village Engineer shall report
to the Planning Board on the condition of the work and recommend that
the performance bond be released, extended or declared in default.
The Village Engineer shall also report on the desirability of the
Village accepting offers of cession for streets and other lands to
be dedicated for public use.
(6)
The Planning Board shall, by resolution, advise the Village Board
of Trustees of its recommendation for release of or declaring in default
each performance bond. The Planning Board can act to extend the term
of the bond in appropriate cases where such action would not be contrary
to the intent of these regulations.
(7)
The Village Board of Trustees shall act on the release of or declaration
of default on the performance bond.
C.
Terms of performance bonds. Performance bonds shall run until the
completion of the agreed-upon improvements.
[Amended 10-6-2009 by L.L. No. 4-2009]
A.
Procedure. The subdivider shall file with the Corporation
Counsel a general liability insurance policy at the same time as he
or she files his or her performance bond. The Board of Trustees shall
approve the policy for form. The policy shall be of the same term
as the performance bond and shall be extended in conformance with
any extension of the performance bond.
B.
Coverage. The policy shall insure the Village of Ossining
and the subdivider and shall cover all operations in the development
involving existence and maintenance of property and buildings and
contracting operations of every nature, including all public improvements.
Said policy shall have limits of liability of $100,000 for bodily
injury to each person and $300,000 liability on the aggregate for
each accident and property damage liability of $5,000 for each accident
and $25,000 aggregate property damage liability.
