The developer's agreement shall include the following terms and conditions:
A. Temporary Improvement: The applicant shall build and pay for all costs of temporary improvements required by the planning commission and shall maintain those improvements for the period specified. Prior to the construction of any temporary facility or improvement, the applicant shall file with the village a separate bond for the temporary facilities; the bond shall be sufficient as to amount and form to ensure that the temporary facilities will be properly constructed, maintained, and removed.
B. Costs Of Improvements: All required improvements shall be made by the applicant, at his expense, without reimbursement by the village or any other public entity.
C. Failure To Complete Improvements, For Subdivisions Or Developments, For Which Bond Has Been Posted: The approval shall be deemed to have expired if the improvements are not completed within the period specified. In those cases where a bond has been posted and the required improvements have not been installed within the terms of such bond, the village may thereupon declare the bond to be in default and require that all the improvements shall be installed regardless of the extent of the building development at the time the bond is declared to be in default.
D. Acceptance Of Dedication Offers: Acceptance or formal offers of dedication of streets, public areas, easements and parks shall be by motion adopted by the president and board of trustees. The approval by the planning commission of a subdivision plat shall not be deemed to constitute or imply the acceptance by the village of any street, easement, park or other public interest in land shown on the plat. The planning commission may require the plat to be endorsed with statements to this effect.
E. Inspection Of Improvements; Fees: The village president shall cause inspection of the required improvements to be made during construction to ensure their satisfactory completion. The applicant shall pay to the village inspection fees in amounts specified from time to time by resolution adopted by the president and board of trustees. These fees shall be due and payable upon demand by the village, and no building permits or certificates of occupancy shall be issued until all fees are paid. If the village engineer finds upon inspection that any of the required improvements have not been constructed in accordance with village construction standards and specifications, the applicant shall complete the improvements as required. Whenever the cost of improvements is covered by a bond, the applicant and the bonding company shall be jointly and severally liable for completing the improvements according to specifications. (Ord. 2004-O-14 § 1)