(A) Maintenance guarantee required. All applicants proposing any subdivision or land development which provides for the dedication of improvements required by this chapter shall be required to provide a legally binding maintenance guarantee to the borough prior to acceptance of dedication of the improvements by the borough. In most cases, this guarantee will be part of the security agreement.
(B) Terms of maintenance guarantee. The maintenance guarantee shall be acceptable in legal form to the Borough Solicitor and in content to the borough, and shall include all of the following:
(1) The applicant make any repair or reconstruction of any improvement stipulated in the maintenance agreement which is specified by the borough if needed because of faulty construction, workmanship or materials, prior to acceptance of such improvement by the borough;
(2) The applicant maintain at his or her own cost all improvements stipulated in the maintenance agreement, up to a maximum period of 18 months from the date of completion, except for any special purpose escrow or maintenance agreements required by the borough;
(3) The applicant post financial security to secure structural integrity of said improvements as well as the functioning of said improvements in accordance with the design and specifications as depicted on the final plan, for a maximum term of 18 months from the date of completion; and
(4) The developer plow snow and maintain all streets until such time as the borough may accept such streets.
(C) Type of security. The maintenance guarantee shall be secured by the same form of security as is permitted for the improvements guarantees.
(D) Terms. Such maintenance guarantee shall be in the form approved by the Borough Solicitor and borough, payable to the borough, to guarantee the maintenance and repair of the streets and other public improvements in the subdivision or, land development for 18 months from the date of completion. The applicant shall prove to the satisfaction of the borough that there will be an acceptable system for the long-term maintenance of any stormwater detention basins.
(E) Amount. The amount of the maintenance guarantee shall be determined by the applicant’s engineer, conditioned upon acceptance by the borough, but shall not exceed 15% of the actual cost of installation of such improvements.
(F) Release. After a maximum of 18 months from the date of completion of said improvements, the borough shall release the maintenance guarantee to the developer (or party that posted the guarantee) if all improvements are in satisfactory condition, as determined by the borough.
(Ord. 1432, passed 5-18-2015, Art. 6, § 607)