§ 152.09 COVENANTS AND MAINTENANCE; FINANCIAL GUARANTEES.
   (A)   Covenants shall be required by the Plan Commission as an ingredient for stability and longevity of the planned unit development, and shall set forth in detail provisions for the ownership and maintenance of facilities held in common so as to reasonably ensure their continuity and conservation. The covenant provisions shall include specific remedies in the event facilities held in common are permitted to deteriorate or are not maintained in a condition consistent with the best interests of the town, in which event the town shall take those remedial steps provided for in the provisions.
   (B)   The Plan Commission may require the recording of covenants for any reasonable public or semipublic purpose, including, but not limited to, the allocation of land by the petitioner for public thoroughfares, parks, schools, recreational facilities and other public and semipublic purposes wherever necessary in conformity with the land use plan of current adoption. Such covenants shall provide that if a governmental unit or agency thereof does not proceed with acquisition of the allocated land within the specified period of time, the covenants shall automatically terminate. If such termination occurs, the petitioner shall then submit for approval by the Plan Commission a modified detailed site plan for such land consistent with the approved preliminary planned unit development. Such modified detailed site plans, when approved, shall be treated in the same manner as approved detailed site plans for an entire planned unit development.
   (C)   The Plan Commission may require the recording of covenants for any other reasonable purpose, including, but not limited to, imposing standards for development of property in a planned unit development; the development standards may include, but are not limited to, requirements as to the following:
      (1)   Lot area;
      (2)   Floor area;
      (3)   Ratios of floor space to land area;
      (4)   Area in which structures may be built (buildable area), including areas for cluster type residential development without lot lines;
      (5)   Open space;
      (6)   Setback lines and minimum yards;
      (7)   Building separations;
      (8)   Height of structures;
      (9)   Signs;
      (10)   Off-street parking and loading and unloading areas;
      (11)   Design standards; and
      (12)   Phasing of development.
   (D)   The petitioner shall provide financial assurance for the satisfactory installation of all public facilities in the form of bonds or such other assurances as are required in the normal procedures of platting pursuant to the provisions of Chapter 153.
   (E)   Adequate provision shall be made for a private organization with data responsibility to and control by the property owners involved to provide for the operation and maintenance of all common facilities, including private streets jointly shared by such property owners if the facilities are a part of the planned unit development and in which instance, legal assurance shall be provided which shows that the private organization is self-perpetuating and adequately funded to accomplish its purposes.
   (F)   Common facilities which are not dedicated to the public shall be maintained to standards assuring continuous and adequate maintenance at a reasonable and nondiscriminatory rate of charge to the beneficiaries thereof. Common facilities not dedicated to the public shall be operated and maintained at no expense to any governmental unit.
   (G)   All private streets shall be maintained by the aforesaid private organization in such a manner that adequate access is provided at all time to vehicular traffic, so that fire, police, health, sanitation and public utility vehicles can serve the properties contiguous or adjacent thereto, and so that the vehicles will have adequate turning area. Private streets shall be developed in accordance with the standards set forth in Chapter 153.
(Ord. 2003-2, passed 3-10-2003)