[Amended 3-28-2007]
Before final approval is recorded at the Registry of Deeds, the applicant must file a performance guarantee, in an amount and form acceptable to the Town, to serve as a surety that all proposed improvements within public or private streets or access drives, that may be a part of municipal stormwater and/or utility systems, and proper erosion and sedimentation control measures are completed in accordance with the approved plans.
A. 
Any performance guarantee shall be approved as to form and amount by the Town of Derry and conditioned on the completion of such improvements within two years of the date of the performance guarantee unless released earlier by a vote of the Board upon request of the developer. Guidelines, procedures and requirements for establishing performance guarantees are more specifically outlined in the "Development Project Escrow Workbook" of the Town of Derry appended to these regulations.[1]
[1]
Editor's Note: This workbook is on file in the office of the Planning Board.
B. 
The applicant shall construct and pay for all temporary improvements, such as erosion and sedimentation control measures and temporary infrastructure improvements, required by the Board and shall maintain those improvements for the period of the performance guarantee or the date that the Town releases all securities, whichever date comes earlier.
C. 
If improvements for which security is given are not completed within the period specified in the performance security, nor in proper conformance with the approved plans, the Board may vote to complete the improvements and withdraw the necessary funds from the balance of any such security in accordance with the term of security.
In order to confirm that various items and features delineated on plans presented to the Planning Board for approval (or which are otherwise required in connection with the development) are, in fact, constructed in accordance with those plans and/or in accordance with applicable codes and standards, the Planning Board may, at the time of plan approval, require the applicant to establish an appropriate escrow, or other security, in addition to the performance guarantee designated in § 170-70 herein, acceptable to the Planning Board, which will be used by the Town of Derry as security for retention of appropriate engineers or other consultants to confirm that construction is in conformance with the approved plans and/or applicable codes and standards. The applicant shall reimburse the Town for the cost of such engineers or consultants prior to release of said security. Specific details and procedures concerning construction monitoring requirements are as contained in the "Site Development Construction Monitoring" and "Off-Site Development Construction Monitoring" Workbooks appended to these regulations.[1]
[1]
Editor's Note: These workbooks are on file in the office of the Planning Board.
[Amended 6-18-2008]
In order to provide a permanent record of the locations, dimensions and characteristics of various items and features, delineated on plans presented to the Planning Board for approval (or which are otherwise required in connection with the development), the Planning Board shall require the applicant to provide as-built drawings, sealed by a licensed professional engineer, or licensed land surveyor, prior to the final release of performance guarantees pertaining to such items. As-built plan requirements and content shall conform with applicable standards established by the Public Works Department. In addition, a digital submission of as-built plans shall be submitted to the Community Development Director, in the format set forth under § 170-24.
A. 
Performance guarantees shall not be released until a licensed land surveyor has certified that the boundary monuments have been set.
B. 
As phases or portions of the secured improvements or installations are completed and approved by the Planning Board, the Board may partially release said security to the extent reasonably calculated to reflect the value of such completed improvements or installations; provided, however, that the Planning Board shall establish a reasonable retainage sufficient to repair or complete any such improvement on account of damage or determination caused by or on account of the completion of the project.
C. 
The security posted by the applicant may, upon request of the applicant, be released to the extent of improvements completed, as certified by the Town's inspecting engineer.
D. 
Prior to any partial or final release of a performance guarantee, all inspection fees, utility access/connection fees, police detail fees, or any other applicable municipal fees must be paid in full.
[Added 5-18-2005]