As a condition precedent to the approval of a subdivision plat, the subdivider must complete the improvements outlined in the plan or must give security for such completion. Reserving to itself the right to vary the arrangements in order to provide for security as the circumstances in individual cases may indicate, the Planning Commission sets out the following alternative plans for the giving of security in those cases where public improvements are not completed prior to final approval of the plat.
(A) If the subdivider has a contract with a contractor approved by the Village Manager, he may execute an agreement with the village under which he will furnish a bond or cash sufficient to cover the contract price, plus $500 or plus 10% of the contract price, whichever is the larger, and agree that such account may be drawn upon only by checks signed jointly by the subdivider and a co-signer designated by the Planning Commission. Such checks are to be issued only to the contractor for payments in accordance with the terms of his contract and upon certification by the Village Manager that performance has been had under the contract in accordance with its terms; for the payment of the expenses of the Commission in the preparation of the necessary contract; and repayment to the subdivider of any balance left in the account after the improvements have been completed, inspected, and approved by the Village Engineer, and the contractor and expenses paid in full. The agreement will further provide that if the contractor fails to comply with the contract, the subdivider shall have the privilege to substitute another contractor, but in the event of failure to do so or to have the improvements completed within a specified time, the village shall have the right to contract for the completion of the improvements and to draw upon the fund to the extent necessary to pay for such completion.
(B) If the subdivider has executed no contract for the making of improvements, he may enter into an agreement with the village by making a similar deposit in an amount equal to the cost of the improvement as estimated by the Village Manager, plus 15%, this deposit to be disbursed in the same manner as provided in division (A) above. The cost of the estimate shall be borne by the developer. When a contract is let, the deposit must be adjusted to equal that required in division (A) above.
(C) The subdivider may furnish a surety bond or certified check to the village in the amount of the estimated cost of the improvement plus 15%. That bond is to authorize the village to make the improvements if the subdivider has not had them completed within a specified time, and obligates the surety to pay to the village the cost of making such improvements, up to the extent of the amount of the bond. The subdivider's contract shall take the following form subject to such additional provisions or amendments as deemed necessary by the Planning Commission to adequately secure the construction of the improvements:
SUBDIVIDER CONTRACT
This contract executed on the day of , 20 , by and between , Subdivider(s), as evidenced by a proposed plat of a subdivision which is on file in the office of the Amberley Village Planning Commission, referred to as Subdivision, Village of Amberley Village, Ohio, and the Village of Amberley Village, Ohio.
WITNESSETH:
(1) The Subdivider(s) hereinabove set forth are/is the owner(s) in fee simple of the real estate known as Subdivision, located and situated on Section , Town , Range , and Township, Hamilton County, Ohio.
(2) It is the purpose and intention of this agreement to have Subdivider(s) agree in writing to the performance and completion of certain work in connection with the improvements to be located in and on said subdivision, including installation of streets, utilities, and the like. It is further the purpose of this agreement to enter into a contract obligating the Subdivider(s) to perform as hereinafter set forth, which contract shall be secured by a performance bond, or certified check attached hereto and made a part thereof.
NOW, THEREFORE, IT IS AGREED:
A. Subdivider(s) as hereinbefore described, do(es) herewith agree to construct, install, and provide all public improvements as shown on the Subdivision improvement plan on file in the office of the Amberley Village Planning Commission, and those improvements required under Chapter 155 of the Codified Ordinances of the Village of Amberley Village including specifically the attached work which has been determined by the Village Engineer to be performed but incomplete as of this date:
B. Subdivider(s) further agree(s) to construct, install, or otherwise make all public improvements shown on the subdivision preliminary plan, those further shown and set forth to be done and performed by the engineering drawings as specifications noted or shown on the subdivision improvement plan on file in the office of the Planning Commission, and those further improvements required under Chapter 155 of the Code.
C. Subdivider(s) further agree(s) to do all that is necessary to accomplish the acceptance of the road(s) as public road(s), within the specified time limits, which includes posting a guarantee surety with the Village as prescribed in Chapter 155 of the Code.
D. All of the foregoing shall be performed within a period of months from the date of this contract, which length of time is hereby fixed by the village as a reasonable period of time, but, if requested by the subdivider, an extension thereof may be granted if approved by the village.
E. Subdivider(s) does/do herewith and hereby agree to execute a performance bond or certified check in the sum of ($ .00) dollars, which amount is equal to the figure established by the Village Manager, and which shall be to the satisfaction of and in favor of, the Village of Amberley Village, Ohio, to insure the faithful performance of this contract.
IN WITNESS WHEREOF, the parties have hereunto set their hands this day of , 20 .
Witness:
Subdivider
VILLAGE OF AMBERLEY VILLAGE
By
(Am. Ord. C-611, passed 2-9-87)