[Ord. #585, § 902A; Ord. #760,
§ 56; Ord. #1103, § 49]
After preliminary subdivision approval has been
granted but prior to the recording of a final subdivision plat, the
applicant shall have installed under the inspection of the Township
Engineer the improvements required under Section 21-60 unless the
applicant has furnished to the Township a performance guaranty in
an amount and in a form, approved by the Township Engineer, to assure
the installation on or before a date approved by the Board of all
improvements required for the whole or any section of the tract which
have not already been inspected and approved by the Township Engineer.
[Ord. #585, § 902B; Ord. #1103,
§ 50]
After preliminary site plan approval has been granted, and before any construction permit is issued for any building, the applicant shall install under the inspection of the Township Engineer those on-tract or on-site improvements required under Subsections 21-60.2 and 21-60.3 which are determined by the Board to have an impact on the health, safety and welfare of the Township, such as:
a.
Detention and retention facilities.
b.
Drainage structures, including those carrying off-site
or off-tract stormwater runoff.
c.
Erosion and sedimentation control improvements.
d.
All landscaping in all buffers.
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Prior to commencing site work, the applicant
will furnish the Township with a bond for the completion of the above
items a, b, c and d, including the grading and reseeding of disturbed
areas. The bond shall contain a provision waiving objection to any
delay in the completion of any item permitted by the Township Engineer
or other Township authorities.
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If the Township Engineer determines that a particular
improvement, including but not limited to items a, b, c and d above,
does not have to be actually installed prior to the granting of final
site plan approval in order to protect the environment or the public
health, safety or welfare, the applicant may furnish the Township
with a performance guaranty to insure installation on or before a
date approved by the Township Engineer.
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[Ord. #585, § 902C; Ord. #1103,
§ 51; Ord. #2406, 2-26-2019, amended]
a.
Before filing a final subdivision plat or recording a minor subdivision
deed or as a condition of final site plan approval or as a condition
to the issuance of a zoning permit pursuant to subsection d. of N.J.S.A.
40:55D-65, a developer shall furnish a performance guarantee, and
provide for a maintenance guarantee in accordance with Paragraphs
1 and 2 of this subsection.
1.
The developer shall furnish a performance guarantee in favor of the
Township in an amount not to exceed 120% of the cost of installation
of only those improvements required by an approval or developer's
agreement, ordinance, or regulation to be dedicated to a public entity,
and that have not yet been installed, which cost shall be determined
by the Township Engineer, according to the method of calculation set
forth in Section 15 of P.L. 1991, c. 256 (N.J.S.A. 40:55D-53.4), for
the following improvements as shown on the approved plans or plat:
streets, pavement, gutters, curbs, sidewalks, streetlighting, street
trees, surveyor's monuments, as shown on the final map and required
by the Map Filing Law, P.L. 1960, c. 141 (N.J.S.A. 46:23-9.9 et seq.;
repealed by Section 2 of P.L. 2011, c. 217) or N.J.S.A. 46:26B-1 through
46:26B-8, water mains, sanitary sewers, community septic systems,
drainage structures, public improvements of open space, and any grading
necessitated by the preceding improvements.
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A successor developer must furnish a replacement performance
guarantee, as a condition to the approval of a permit update under
the State Uniform Construction Code, for the purpose of updating the
name and address of the owner of property on a construction permit.
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2.
The Township Engineer shall prepare an itemized cost estimate of
the improvements covered by the performance guarantee, which itemized
cost estimate shall be appended to each performance guarantee posted
by the obligor.
b.
A performance guarantee shall include within an approved phase or
section of a development privately owned perimeter buffer landscaping
as required by Township ordinance or imposed as a condition of approval.
At the developer's option, a separate performance guarantee may be
posted for the privately owned perimeter buffer landscaping.
c.
In the event that the developer shall seek a temporary certificate
of occupancy for a development, unit, lot, building, or phase of development,
as a condition of the issuance thereof, the developer shall furnish
a separate guarantee, referred to herein as a "temporary certificate
of occupancy guarantee," in favor of the Township in an amount equal
to 120% of the cost of installation of only those improvements or
items which remain to be completed or installed under the terms of
the temporary certificate of occupancy and which are required to be
installed or completed as a condition precedent to the issuance of
the permanent certificate of occupancy for the development, unit,
lot, building or phase of development and which are not covered by
an existing performance guarantee. Upon posting of a temporary certificate
of occupancy guarantee, all sums remaining under a performance guarantee,
required pursuant to Paragraph a of this subsection, which relate
to the development, unit, lot, building, or phase of development for
which the temporary certificate of occupancy is sought, shall be released.
The scope and amount of the temporary certificate of occupancy guarantee
shall be determined by the Zoning Officer, Township Engineer, or other
municipal official designated by ordinance. At no time may the Township
hold more than one guarantee or bond of any type with respect to the
same line item. The temporary certificate of occupancy guarantee shall
be released by the Zoning Officer, Township Engineer, or other municipal
official designated by ordinance upon the issuance of a permanent
certificate of occupancy with regard to the development, unit, lot,
building, or phase as to which the temporary certificate of occupancy
relates.
d.
A developer shall furnish to the Township a safety and stabilization
guarantee, in favor of the Township. At the developer's option, a
safety and stabilization guarantee may be furnished either as a separate
guarantee or as a line item of the performance guarantee. A safety
and stabilization guarantee shall be available to the Township solely
for the purpose of returning property that has been disturbed to a
safe and stable condition or otherwise implementing measures to protect
the public from access to an unsafe or unstable condition, only in
the circumstance that:
1.
Site disturbance has commenced and, thereafter, all work on the development
has ceased for a period of at least 60 consecutive days following
such commencement for reasons other than force majeure; and
2.
Work has not recommenced within 30 days following the provision of
written notice by the Township to the developer of the Township's
intent to claim payment under the guarantee. The Township shall not
provide notice of its intent to claim payment under a safety and stabilization
guarantee until a period of at least 60 days has elapsed during which
all work on the development has ceased for reasons other than force
majeure. The Township shall provide written notice to a developer
by certified mail or other form of delivery providing evidence of
receipt.
3.
The amount of a safety and stabilization guarantee for a development
with bonded improvements in an amount not exceeding $100,000 shall
be $5,000.
4.
The amount of a safety and stabilization guarantee for a development
with bonded improvements exceeding $100,000 shall be calculated as
a percentage of the bonded improvement costs of the development or
phase of development as follows:
(a)
$5,000 for the first $100,000 of bonded improvement costs, plus
2 1/2% of bonded improvement costs in excess of $100,000 up to
$1,000,000, plus 1% of bonded improvement costs in excess of $1,000,000.
5.
The Township shall release a separate safety and stabilization guarantee
to a developer upon the developer's furnishing of a performance guarantee
which includes a line item for safety and stabilization in the amount
required under this paragraph.
6.
The Township shall release a safety and stabilization guarantee upon
the Township Engineer's determination that the development of the
project site has reached a point that the improvements installed are
adequate to avoid any potential threat to public safety.
e.
The developer shall post with the Township, prior to the release
of a performance guarantee required pursuant to Paragraph a, Paragraph
b, or both Paragraph a and Paragraph b of this subsection, a maintenance
guarantee in an amount not to exceed 15% of the cost of the installation
of the improvements which are being released.
f.
If required, the developer shall post with the Township, upon the
inspection and issuance of final approval of the following private
site improvements by the Township Engineer, a maintenance guarantee
in an amount not to exceed 15% of the cost of the installation of
the following private site improvements: stormwater management basins,
in-flow and water quality structures within the basins, and the out-flow
pipes and structures of the stormwater management system, if any,
which cost shall be determined according to the method of calculation
set forth in Section 15 of P.L. 1991, c. 256 (N.J.S.A. 40:55D-53.4).
g.
The term of the maintenance guarantee shall be for a period not to
exceed two years and shall automatically expire at the end of the
established term.
h.
In the event that other governmental agencies or public utilities
automatically will own the utilities to be installed or the improvements
are covered by a performance or maintenance guarantee to another governmental
agency, no performance or maintenance guarantee, as the case may be,
shall be required by the Township for such utilities or improvements.
i.
The maintenance bond shall be expressly conditioned on the repair,
correction of defects, replacement or restoration of an improvement
or any part thereof whenever defects arise from faulty materials,
poor workmanship or from natural causes. Maintenance shall also include
the plowing of snow on streets or portions of streets not yet accepted
by the Township in order that vehicular access is at all times provided
to lots for which certificates of occupancy have been issued.
j.
The time allowed for installation of the bonded improvements for
which the performance guarantee has been provided may be extended
by the governing body by resolution. As a condition or as part of
any such extension, the amount of any performance guarantee shall
be increased or reduced, as the case may be, to an amount not to exceed
120% of the cost of the installation, which cost shall be determined
by the Township Engineer according to the method of calculation set
forth in Section 15 of P.L. 1991, c. 256 (N.J.S.A. 40:55D-53.4) as
of the time of the passage of the resolution.
k.
If the required bonded improvements are not completed or corrected
in accordance with the performance guarantee, the obligor and surety,
if any, shall be liable thereon to the Township for the reasonable
cost of the improvements not completed or corrected and the Township
may either prior to or after the receipt of the proceeds thereof complete
such improvements. Such completion or correction of improvements shall
be subject to the public bidding requirements of the Local Public
Contracts Law, P.L. 1971, c. 198 (N.J.S.A. 40A:11-1 et seq.).
l.
Upon substantial completion of all required street improvements (except
for the top course) and appurtenant utility improvements, and the
connection of same to the public system, the obligor may request of
the governing body in writing, by certified mail addressed in care
of the municipal clerk, that the Township Engineer prepare, in accordance
with the itemized cost estimate approved by the Township Engineer
and appended to the performance guarantee pursuant to Paragraph a
of this subsection, a list of all uncompleted or unsatisfactory completed
bonded improvements. If such a request is made, the obligor shall
send a copy of the request to the Township Engineer. The request shall
indicate which bonded improvements have been completed and which bonded
improvements remain uncompleted in the judgment of the obligor. Thereupon
the Township Engineer shall inspect all bonded improvements covered
by obligor's request and shall file a detailed list and report, in
writing, with the governing body, and shall simultaneously send a
copy thereof to the obligor not later than 45 days after receipt of
the obligor's request.
m.
The list prepared by the Township Engineer shall state, in detail,
with respect to each bonded improvement determined to be incomplete
or unsatisfactory, the nature and extent of the incompleteness of
each incomplete improvement or the nature and extent of, and remedy
for, the unsatisfactory state of each completed bonded improvement
determined to be unsatisfactory. The report prepared by the Township
Engineer shall identify each bonded improvement determined to be complete
and satisfactory together with a recommendation as to the amount of
reduction to be made in the performance guarantee relating to the
completed and satisfactory bonded improvement, in accordance with
the itemized cost estimate approved by the Township Engineer and appended
to the performance guarantee pursuant to Paragraph a of this subsection.
n.
The governing body, by resolution, shall either approve the bonded
improvements determined to be complete and satisfactory by the Township
Engineer, or reject any or all of these bonded improvements upon the
establishment in the resolution of cause for rejection, and shall
approve and authorize the amount of reduction to be made in the performance
guarantee relating to the improvements accepted, in accordance with
the itemized cost estimate approved by the Township Engineer and appended
to the performance guarantee pursuant to Paragraph a of this subsection.
This resolution shall be adopted not later than 45 days after receipt
of the list and report prepared by the Township Engineer. Upon adoption
of the resolution by the governing body, the obligor shall be released
from all liability pursuant to its performance guarantee, with respect
to those approved bonded improvements, except for that portion adequately
sufficient to secure completion or correction of the improvements
not yet approved; provided that 30% of the amount of the total performance
guarantee and safety and stabilization guarantee posted may be retained
to ensure completion and acceptability of all improvements. The safety
and stabilization guarantee shall be reduced by the same percentage
as the performance guarantee is being reduced at the time of each
performance guarantee reduction.
o.
For the purpose of releasing the obligor from liability pursuant
to its performance guarantee, the amount of the performance guarantee
attributable to each approved bonded improvement shall be reduced
by the total amount for each such improvement, in accordance with
the itemized cost estimate approved by the Township Engineer and appended
to the performance guarantee pursuant to Paragraph a of this subsection,
including any contingency factor applied to the cost of installation.
If the sum of the approved bonded improvements would exceed 70% of
the total amount of the performance guarantee, then the Township may
retain 30% of the amount of the total performance guarantee and safety
and stabilization guarantee to ensure completion and acceptability
of bonded improvements, as provided above, except that any amount
of the performance guarantee attributable to bonded improvements for
which a temporary certificate of occupancy guarantee has been posted
shall be released from the performance guarantee even if such release
would reduce the amount held by the Township below 30%.
p.
If the Township Engineer fails to send or provide the list and report
as requested by the obligor pursuant to Paragraphs l and m of this
subsection within 45 days from receipt of the request, the obligor
may apply to the court in a summary manner for an order compelling
the Township Engineer to provide the list and report within a stated
time and the cost of applying to the court, including reasonable attorney's
fees, may be awarded to the prevailing party.
q.
If the governing body fails to approve or reject the bonded improvements
determined by the Township Engineer to be complete and satisfactory
or reduce the performance guarantee for the complete and satisfactory
improvements within 45 days from the receipt of the Township Engineer's
list and report, the obligor may apply to the court in a summary manner
for an order compelling, within a stated time, approval of the complete
and satisfactory improvements and approval of a reduction in the performance
guarantee for the approvable complete and satisfactory improvements
in accordance with the itemized cost estimate approved by the Township
Engineer and appended to the performance guarantee pursuant to Paragraph
a of this subsection; and the cost of applying to the court, including
reasonable attorney's fees, may be awarded to the prevailing party.
r.
In the event that the obligor has made a cash deposit with the Township
or approving authority as part of the performance guarantee, then
any partial reduction granted in the performance guarantee pursuant
to this subsection shall be applied to the cash deposit in the same
proportion as the original cash deposit bears to the full amount of
the performance guarantee, provided that if the developer has furnished
a safety and stabilization guarantee, the Township may retain cash
equal to the amount of the remaining safety and stabilization guarantee.
s.
If any portion of the required bonded improvements is rejected, the
approving authority may require the obligor to complete or correct
such improvements and, upon completion or correction, the same procedure
of notification, as set forth in this subsection shall be followed.
t.
Nothing herein, however, shall be construed to limit the right of
the obligor to contest by legal proceedings any determination of the
governing body or the Township Engineer.
u.
The obligor shall reimburse the Township for reasonable inspection
fees paid to the Township Engineer for the foregoing inspection of
improvements; which fees shall not exceed the sum of the amounts set
forth in Subparagraphs 1 and 2 of this paragraph. The Township may
require the developer to post the inspection fees in escrow in an
amount:
1.
Not to exceed, except for extraordinary circumstances, the greater
of $500 or 5% of the cost of bonded improvements that are subject
to a performance guarantee under Paragraph a, Paragraph b or both
Paragraphs a and b of this subsection; and
2.
Not to exceed 5% of the cost of private site improvements that are
not subject to a performance guarantee under Paragraph a of this subsection,
which cost shall be determined pursuant to Section 15 of P.L. 1991
c. 256 (N.J.S.A. 40:55D-53.4).
v.
For those developments for which the inspection fees total less than
$10,000, fees may, at the option of the developer, be paid in two
installments. The initial amount deposited in escrow by a developer
shall be 50% of the inspection fees. When the balance on deposit drops
to 10% of the inspection fees because the amount deposited by the
developer has been reduced by the amount paid to the Township Engineer
for inspections, the developer shall deposit the remaining 50% of
the inspection fees.
w.
For those developments for which the inspection fees total $10,000
or greater, fees may, at the option of the developer, be paid in four
installments. The initial amount deposited in escrow by a developer
shall be 25% of the inspection fees. When the balance on deposit drops
to 10% of the inspection fees because the amount deposited by the
developer has been reduced by the amount paid to the Township Engineer
for inspection, the developer shall make additional deposits of 25%
of the inspection fees.
x.
If the Township determines that the amount in escrow for the payment
of inspection fees, as calculated pursuant to Paragraphs a and b of
this subsection, is insufficient to cover the cost of additional required
inspections, the Township may require the developer to deposit additional
funds in escrow, provided that the Township delivers to the developer
a written inspection escrow deposit request, signed by the Township
Engineer, which: informs the developer of the need for additional
inspections, details the items or undertakings that require inspection,
estimates the time required for those inspections, and estimates the
cost of performing those inspections.
y.
In the event that final approval is by stages or sections of development
pursuant to Subsection a of Section 29 of P.L. 1975, c. 291 (N.J.S.A.
40:55D-38), the provisions of this section shall be applied by stage
or section.
z.
To the extent that any of the improvements have been dedicated to
the Township on the subdivision plat or site plan, the municipal governing
body shall be deemed, upon the release of any performance guarantee
required pursuant to Paragraph a of this subsection, to accept dedication
for public use of streets or roads and any other improvements made
thereon according to site plans and subdivision plats approved by
the approving authority, provided that such improvements have been
inspected and have received final approval by the Township Engineer.
[Ord. #585, § 902D; Ord. #760,
§ 57]
An estimate of the cost of such improvements
shall be prepared and submitted by the applicant's engineer to the
Township Engineer for approval.
[Ord. #585, § 902E; Ord. #1229,
§ 2]
Unless otherwise permitted by the Planning Board
in accordance with N.J.S.A. 40:55D-52b of the Municipal Land Use Law,
all improvements required by the development plans must be installed
no later than two years from the date of final approval. With the
consent of the principal and any surety, the time allowed for the
completion of improvements may be extended by the governing body by
resolution. The Board shall have a thirty-day period in which to comment
upon any proposed extension. As a condition or as part of any such
extension, the amount of any performance guaranty shall be increased
or reduced, as the case may be, to an amount not to exceed 120% of
the cost of the installation of the remaining improvements as established
at the time of the passage of the resolution of extension.
[Ord. #585, § 902F]
Upon substantial completion of all required
appurtenant utility improvements and connection of same to the public
system and upon completion of each of the other required improvements,
the obligor (or the performance guaranty) shall notify the governing
body, in writing, by certified mail addressed in care of the Township
Clerk, of the completion or substantial completion of improvements
and shall send a copy thereof to the Township Engineer. Thereupon
the Township Engineer shall, within 10 days of notification, conduct
a full inspection of the specified improvements, file a detailed report
in writing with the governing body, indicating either his approval,
partial approval or rejection of the inspected improvements and giving
the reasons for any rejection. The cost of the improvements as approved
or rejected shall be set forth and certified.[1]
[Ord. #1103, § 52; Ord. #1429, 5-29-2001, amended]
As a condition of final approval and coincident
with the furnishing of the performance guaranty by the developer,
there shall be executed an agreement between the developer and the
Township incorporating all of the terms and conditions of approval
imposed by the Board in the form set forth in Appendix C. Developers
must use the preprinted form which is available from the Township
Engineering department. The Township Engineer, in consultation with
the Township Attorney, may revise the preprinted form from time to
time, but such revisions may not alter the substance of such forms
unless authorized by an ordinance implementing the revision.
[Ord. #585, § 902I]
Prior to the acceptance by the Township of any
improvements installed in or as part of any development, the developer
shall furnish to the Township Engineer a set of as-built plans for
the following, drawn on Mylar base sheets not larger than 24 inches
x 36 inches.
a.
Roads (plans and profiles).
b.
Surface and stormwater drainage (plants and profiles)
for facilities in roads and easements.
c.
Sanitary sewers including individual lot connections
and cleanouts (plans and profiles) for facilities in roads and easements.
d.
Water mains, gas mains and underground electric, telephone
and community antenna television (CATV) conduits (plans and profiles)
for facilities in roads and easements.
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All of the foregoing improvements and utilities
may be shown on the same location plans with appropriate legends.
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[Ord. #585, § 902J; Ord. #985;
Ord. #1103, § 53]
a.
In the case of a subdivision, no certificate of occupancy
shall be issued for any building on any lot in a development until
installment of the following improvements required for such lot shall
have been completed, inspected and approved by the Township Engineer:
1.
Streets, curbs and sidewalks (except the wearing course
of the pavement section).
2.
Drainage facilities and grading.
3.
Sanitary facilities.
4.
All utilities.
5.
If the development plan requires that shade trees
be installed within a right of way that is or is to become public,
no certificate of occupancy shall be issued for any lot unless either
(a) the Township Engineer has certified that all such required trees,
both upon that lot and in the portion of the right of way abutting
that lot, if any, have been installed or (b) the Township Engineer
has certified that the planting of such trees should await the next
planting season. In the case of a certification under Clause (b),
the failure of the developer to install such shade trees by April
15 next following the date of the Engineer's certification shall constitute
a default of the developer's obligations and shall entitle the Township
to draw upon the performance guaranty for the cost of obtaining and
installing such shade trees.
b.
In the case of a site plan, no certificate of occupancy
shall be issued for any building unless the Township Engineer has
certified that the site improvements necessary for the occupancy of
the building have been completed or have been completed to the extent
necessary to allow the safe occupancy of the building without inconvenience
to the occupants of the building. In these cases, where other site
improvements related to the development plan are incomplete, the applicant
shall agree in writing to complete said improvements within 180 days
and shall post a guaranty to cover completion of the improvements.
In no case shall the final 10% of a residential development, including
single-family and duplex units, be occupied until all site improvements
have been completed. Notwithstanding the other provisions of this
paragraph, if the development plan requires that shade trees be installed
within a right-of-way that is or is to become public, no certificate
of occupancy shall be issued for any lot unless either (a) the Township
Engineer has certified that all such required trees, both upon that
lot and in the portion of the right-of-way abutting that lot, if any,
have been installed or (b) the Township Engineer has certified that
the planting of such trees should await the next planting season.
In the case of a certification under Clause (b), the failure of the
developer to install such shade trees by April 15 next following of
the date of the Engineer's certification shall constitute a default
of the developer's obligations and shall entitle the Township to draw
upon the performance guaranty for the cost of obtaining and installing
such shade trees.
[Ord. #585, § 902K]
Whenever final approval is obtained for a section
of a development, then all of the improvements for that section shall
be completed, inspected and approved by the Township Engineer before
any certificate of occupancy shall be issued for any building on a
lot in any succeeding section of the development.[1]
[1]
Editor’s Note: Former § 21-59.12, Maintenance Guaranty, adopted by Ord. # 585, § 902L, as amended, which immediately followed, was repealed 2-26-2019 by Ord. #2406, which ordinance also renumbered former §§ 21-59.13 through 21-59.15 as §§ 21-59.11 through 21-59.13, respectively. For current provisions, see § 21-59.3.
[Ord. #1103, § 55; Ord. #1429, 5-29-2001, amended]
A developer may furnish a performance guaranty
or maintenance guaranty in the form of an irrevocable letter of credit
if it:
a.
Constitutes an unconditional payment obligation of
the issuer running solely to the Township of Bernards for an express
initial period of time in the amount determined pursuant to this chapter;
b.
Is issued by a banking or savings institution authorized
to do business in the State of New Jersey, actually doing business
in the state and having at least one main office or branch office
in the state;
c.
Permits the presentment of drafts at a location within
the state within a forty-mile radius of the Township Municipal Building,
which location may be an office of the issuer or an office of any
other banking or savings institution designated by the issuer;
d.
Is for a period of time of at least one year;
e.
Permits the Township to draw upon the letter of credit
if the developer fails to complete any required improvements within
the time provided by the Land Development Chapter of the Revised General
Ordinances of Bernards Township or by the developer's resolution of
approval;
f.
Permits the Township to draw upon the letter of credit
if the developer fails to furnish either another letter of credit
which complies with the provisions of this section or an amendment
extending the existing letter of credit for a time period consistent
with Paragraph d. above at least 30 days before the expiration date
of the existing letter of credit;
g.
Permits drafts in the full amount or any partial amount;
h.
Recites that a draft upon the letter of credit may
be signed by any one of the following: the Township Engineer, Acting
Township Engineer, Township Administrator, Assistant Administrator
or any member of the Township Committee;
i.
Satisfies the requirement as to form specified in
the New Jersey Uniform Commercial Code (N.J.S.A. 12A:5-101 et seq.)
and in the Uniform Customs and Practice for Documentary Credits published
by the International Chamber of Commerce, both as amended or revised
from time to time; and
j.
Is accompanied by a statement of an officer of the
bank certifying that the bank is in compliance with all applicable
capital requirements of all governmental and regulatory bodies.
k.
Is approved as to form by the Township Attorney. Developers
must use the preprinted form set forth in Appendix K, which is available
from the Township Engineering Department. The Township Engineer, in
consultation with the Township Attorney, may revise the preprinted
form from time to time, but such revisions may not alter the substance
of such forms unless authorized by an ordinance implementing the revision.
[Ord. #1103, § 56]
It shall be a violation of this chapter for
a developer to fail to furnish an acceptable replacement performance
guaranty or maintenance guaranty either (a) prior to the expiration
of a letter of credit or other time-limited guaranty, or (b) within
30 days following the delivery of written notice from the Township
that the developer's guaranty has become inadequate or unacceptable,
or (c) within 30 days following the developer's otherwise learning
that its guaranty has become inadequate or unacceptable. A guaranty
becomes inadequate or unacceptable if the surety or other issuer files
or is the subject of a petition under the Federal Bankruptcy Act,
or otherwise becomes insolvent or becomes the subject of proceedings
under any insolvency law, or if other circumstances arise which significantly
jeopardize or impair the Township's present or future ability to promptly
enforce the guaranty. It shall also be a violation of this chapter
for a developer to perform work, or have work performed on its behalf,
on any structure or improvement at a time when the developer is in
violation of this subsection 21-59.14, and each day that any such
work is performed shall be the basis for a separate violation. In
addition, no certificate of occupancy or building permit shall be
issued for a development at any time when a guaranty required by this
chapter has expired or become inadequate or unacceptable and has not
been replaced by the developer.
[Ord. #1103, § 57]
Any improvements in public rights-of-way or on public lands shall be subject to the requirements of section 18-3 of the Revised General Ordinances, "Requirements and Specifications for Street Openings." If the developer has posted a performance guaranty pursuant to subsection 21-59.3 above, then the total cost of completely restoring the public right-of-way or public land shall be included as a component of that performance guaranty, and the Township shall accept that performance surety required by subsection 18-3.5b.[1]
