(A) Maintenance surety shall be provided to each appropriate authority or to the Plan Commission in an amount not less than:
(1) Twenty percent of the construction surety; or
(2) Twenty percent of the actual cost of construction if the improvements are installed without a construction surety.
(B) The maintenance surety shall be for a duration of 3 years from:
(1) The release of the construction surety; or
(2) The date improvements have been completed, inspected and approved.
(C) No individual nor part of a surety shall be released until all inspections by the appropriate authority and Plan Commission staff have been performed and certified in writing that they meet all appropriate standards. The appropriate authority may request special inspections by a duly authorized inspector or state certified engineer as approved by the Town Council to determine compliance with all appropriate standards, the cost of which shall be borne by the subdivider or developer. Notwithstanding anything contained herein to the contrary, no surety shall be allowed to lapse or be terminated until approved in writing by the appropriate authority.
(Ord. 1999-2 § 2.6.3, passed 2-9-1999)