When requested by the developer, in order to facilitate financing, Council shall furnish the developer with a signed copy of a resolution indicating approval of the final plan contingent upon the developer obtaining satisfactory financial security. The final plan or record plan shall not be signed nor recorded until the financial improvements agreement is executed.
A. 
No plan shall receive final approval unless the streets shown have been improved to a permanently passable condition, or improved as may be required by this chapter and any walkways, curbs, gutters, streetlights, fire hydrants, shade trees, water mains, sanitary sewers, storm sewers and other improvements as may be required by this chapter have been installed. In lieu of the completion of any improvements as may be required by this chapter, the developer shall furnish to the Township financial security with such surety as Council shall approve, in an amount sufficient to cover the costs of such improvements or common amenities, including but not limited to roads, stormwater detention and/or retention basins and other related drainage facilities, recreational facilities, open space improvements, or buffer or screen plantings which may be required.
B. 
Without limitation as to other types of financial security which the Township may approve, which shall not be unreasonably withheld, Federal or Commonwealth chartered lending institution irrevocable letters of credit and restrictive or escrow accounts in such lending institutions shall be deemed acceptable financial security for the purposes of this section.
C. 
Such financial security shall be posted with a bonding company or federal or commonwealth chartered lending institution chosen by the party posting the financial security, provided said bonding company or lending institution is authorized to conduct such business within the commonwealth.
D. 
Such bond, or other financial security shall provide for, and secure to the public the completion of any improvements which may be required on or before the date fixed in the formal action of approval or accompanying agreement for completion of the improvements.
E. 
The amount of financial security to be posted for completion of the required improvements shall be equal to 110% of the cost of completion estimated as of 90 days following the date scheduled for completion by the developer. Annually, the Township may adjust the amount of the financial security by comparing the actual cost of the improvements which have been completed and the estimated cost for the completion of the remaining improvements as of the expiration of the 90th day after either the original date scheduled for completion or a rescheduled date of completion. Subsequent to said adjustment, the Township may require the developer to post additional security in order to assure that the financial security equals said 110%. Any additional security shall be posted by the developer in accordance with this section.
A. 
The amount of financial security required shall be based upon an estimate of the cost of completion of the required improvements, submitted by an applicant or developer and prepared by a professional engineer licensed as such in the Commonwealth of Pennsylvania and certified by such engineer to be a fair and reasonable estimate of such cost. The Township, upon recommendation of the Township Engineer, may refuse to accept such estimate for good cause shown. If the applicant or developer and the Township are unable to agree upon an estimate, the estimate shall be recalculated and recertified by another professional engineer licensed as such in this Commonwealth and chosen mutually by the Township and the applicant or developer. The estimate certified by the third engineer shall be presumed fair and reasonable and shall be the final estimate. In the event that a third engineer is so chosen, fees for the services of said engineer shall be paid equally by the Township and the applicant or developer.
B. 
If the party posting the financial security requires more than one year from the date of posting of the financial security to complete the required improvements, the amount of financial security may be increased by an additional 10% for each one-year period beyond the first anniversary date from posting of financial security or to an amount not exceeding 110% of the cost of completing the required improvements as reestablished on or about the expiration of the preceding one-year period by using the above bidding procedure.
A. 
In the case where development is projected over a period of years, Council may authorize submission of final plans by section or stages of development subject to such requirements or guaranties as to improvements in future sections or stages of development as it finds essential for the protection of any finally approved section of the development.
B. 
As the work of installing the required improvements proceeds, the party posting the financial security may request Council to release, from time to time, such portions of the financial security necessary for payment to the contractor or contractors performing the work. Any such request shall be in writing addressed to Council, and the Township shall have 45 days from receipt of such request within which to allow the Township Engineer to certify, in writing, to Council that such portion of the work upon the improvements has been completed in accordance with the approved plan. Upon such certification, Council shall authorize release by the bonding company or lending institution of an amount as estimated by the Township Engineer fairly representing the value of the improvements completed or, if Council fails to act within the forty-five-day period, Council shall be deemed to have approved the release of funds as requested. Council may, prior to final release at the time of completion and certification by the Township Engineer, require retention of 10% of the estimated cost of the aforesaid improvements.
C. 
If financial security has been provided in lieu of the completion of improvements required as a condition for the final approval of a plan as set forth in this section, the municipality shall not condition the issuance of building, grading, or other permits relating to the construction of the improvements, including buildings, upon the lots or land as depicted on the final plan. Moreover, if said financial security has been provided, occupancy permits for any building or buildings to be erected shall not be withheld following: the improvement of the streets providing access to and from existing public roads to such building or buildings to a permanently passable condition, as well as the completion of all other improvements as depicted upon the approved plan, either upon the lot or lots or beyond the lot or lots in question if such improvements are necessary for the reasonable use of or occupancy of the building or buildings.
A. 
Where Council accepts dedication of all or some of the required improvements following completion, Council may require the posting of financial security to secure structural integrity of the improvements as well as the functioning of said improvements in accordance with the design and specifications as depicted on the final plan for a term not to exceed 18 months from the date of acceptance of dedication. Said financial security shall be of the same type as otherwise required in this section with regard to installation of such improvements, and the amount of this financial security shall not exceed 15% of the actual cost of installation of the improvements.
B. 
If water mains or sanitary sewer lines, or both, along with apparatus or facilities related thereto, are to be installed under the jurisdiction and pursuant to the rules and regulations of a public utility or municipal authority separate and distinct from the Township, financial security to ensure proper completion and maintenance thereof shall be posted in accordance with the regulations of the controlling public utility or municipal authority and shall not be included within the financial security as otherwise required by this section.
A. 
When the developer has completed all of the necessary and appropriate improvements, the developer shall notify Council, in writing, by certified or registered mail, of the completion of the improvements and shall send a copy to the Township Engineer. The Township shall, within 10 days after receipt of such notice, direct and authorize the Township Engineer to inspect all of the improvements. The Township Engineer shall file a report with Council, and shall mail a copy of the report to the developer by certified or registered mail. The report shall be made and mailed within 30 days after receipt by the Township Engineer of the authorization from the Township. This report shall indicate approval or rejection of the improvements, and if the improvements, or any portion thereof, shall not be approved by the Township Engineer, this report shall contain a statement of reasons for such nonapproval or rejection.
B. 
The Township shall notify the developer, within 15 days of receipt of the Township Engineer's report, in writing by certified or registered mail of their actions in response to the Township Engineer's review of improvements.
C. 
If the Township or the Township Engineer fails to comply with the time limitation provisions, all improvements will be deemed to have been approved and the developer shall be released from all liability, pursuant to its performance guaranty bond or other security agreement.
D. 
If any portion of the improvements shall not be approved or shall be rejected by Council, the developer shall proceed to complete the improvements and, upon. completion, the same procedure of notification, as outlined herein, shall be followed.
E. 
The applicant or developer shall reimburse the Township for the reasonable and necessary expense incurred for the inspection of such improvements. Such reimbursement shall be based upon a schedule adopted by resolution and shall be reasonable and in accordance with the ordinary and customary fees charged by the Township Engineer or consultant for work performed for similar services in the Township, and in no event shall the fees exceed the rate or cost charged by the Township Engineer or consultant to the Township when fees are not reimbursed or otherwise imposed on applicants. In the event that the applicant disputes the amount of such expense in connection with inspection of improvements, the procedure set forth in the Pennsylvania Municipalities Planning Code (Act 247, as amended), Section 510(g), Subsections (1) through (5),[1] shall be adhered to.
[1]
Editor's Note: See 53 P.S. § 10510(g)(l) through (5).
In the event that any improvements which may be required have not been installed as provided in this chapter or in accord with the approved final plan, Council is hereby granted the power to enforce any corporate bond, or other security by appropriate legal and equitable remedies. If proceeds of such bond, or other security are insufficient to pay the cost of installing or making repairs or corrections to all the improvements covered by said security, Council may, at its option, install part of such improvements in all or part of the subdivision or land development and may institute appropriate legal or equitable action to recover the moneys necessary to complete the remainder of the improvements. All of the proceeds, whether resulting from the security or from any legal or equitable action brought against the developer, or both, shall be used solely for the installation of the improvements covered by such security, and not for any municipal purpose.
After completion and municipal approval of subdivision or land development improvements as shown on final plans, and before municipal acceptance of such improvements, the developer shall submit to Council a corrected copy of said plans showing actual dimensions and conditions of streets and all other improvements, certified by an engineer or surveyor to be in accordance with actual construction. As-built plans for individual lots shall also be provided to the Township.
A. 
Conditions. The Township shall have no obligation to take over and make public any street or other improvement unless:
(1) 
The required improvements, utility mains and laterals, and monuments, shown on an approved plan or plans have been constructed to all requirements.
(2) 
It is established to the satisfaction of Council that there is a need for the improvements to be taken over and made public.
(3) 
Title insurance shall be provided to the Township for all land and improvements being dedicated.
(4) 
A deed of dedication to the Township and release of mortgage or other liens executed by all parties shown on the certificate to have an interest in the improvements, is delivered to the Township. The applicant shall tender a deed of dedication to the Township or appropriate authority for such streets, any and all easements for sanitary sewers or storm sewers and improvements thereto, including street paving, curbs, sidewalks, monuments, sanitary and storm sewers, manholes, inlets, pumping stations, and other appurtenances as shall be constructed as public improvements and as are required for the promotion of public welfare, after all streets, curbs, sidewalks, and sewers are completed and such completion is certified as satisfactory by the Township Engineer.
(5) 
A maintenance bond for a period of 18 months from the date of acceptance, in the amount of 15% of the cost of construction with surety satisfaction to Council is supplied.
(6) 
As-built plans have been provided for all improvements constructed.
B. 
Acceptance. The Township shall have no responsibility with respect to any street or other improvement, notwithstanding the use of the same by the public, unless the street or other improvement is accepted by an ordinance or resolution of Council.