Before approving any subdivision or land development plan for recording, the Planning Commission shall require that the Borough Council be assured by means of a proper development agreement and performance guarantee that the improvements required by this chapter and the improvements appearing on the plan will be installed in strict accordance with the standards and specifications of this chapter, unless:
(A) Installation of all required improvements. A developer chooses to install all required improvements prior to construction of any building; in place of using performance guarantees, in which case, the borough shall, as deemed necessary, require the developer to have adequate insurance, hold harmless agreements, an escrow account to cover the costs of inspections and a professional estimate of the costs of the improvements (to be used to establish the amount of the inspections escrow);
(B) Purpose of security. The security required by this subchapter shall stand as security for compliance with all ordinances, other laws, covenants, stipulations, conditions and rules applicable to the subdivision or land development for which it is filed; and/or
(C) Conditions of construction, paving or sales. No construction of buildings or paving or sales of any individual lot or condominium unit within a subdivision or land development shall take place in any subdivision unless:
(1) There is on file, with the borough, current duly executed and approved security; or
(2) All rough grading is complete and all required public improvements, utilities, streets, drainage facilities, sewers and street lights have been completed and accepted by the Borough Council.
(Ord. 1432, passed 5-18-2015, Art. 6, § 601)