6-3-6: AGREEMENTS AND GUARANTEE OF IMPROVEMENTS:
The requirements of this section shall be complied with prior to the approval and recording of a final plat of subdivision.
   A.   Action By The Subdivider: Prior to the filing of an application for a final plat, the subdivider shall submit the following to the village administrator:
      1.   Statement Of Agreement: A statement of agreement that:
         a.   Completion Of Land Improvements: The land improvements required by this title shall be completed by the owner or subdivider in accordance with the plans and specifications approved by the village engineer.
         b.   As Built Plans Submitted: Four (4) sets plus one reproducible set on Mylar of as built plans, as required by this chapter, shall be submitted by the owner or subdivider.
         c.   Completion Of General Improvements: All general improvements and the as-built plans of said improvement, shall be completed by the owner or subdivider within two (2) years or less following approval of the final plat by the Village President and Board of Trustees. Natural area improvements shall be completed within three (3) years.
         d.   Deeding Of Improvements: All public improvements shall be deeded over to the Village and become the property of the Village after approval by the Village Engineer and when accepted by resolution of the Board. All labor and material for installing public improvements shall be furnished by the subdivider. All testing required for acceptance shall be done by the subdivider under the supervision of the Village Engineer.
         e.   Binder Course On Streets/Roadways: No home fronting on a newly created street in any subdivision shall be occupied until the binder course has been applied to the roadway. The final wearing surface shall not be applied until the elapse of one winter season. The roadways remain the responsibility of the developer until accepted by the Village Board.
         f.   Public Improvements; Fines And Extensions: The subdivider shall pay to the Village a fine of one hundred dollars ($100.00) per day for every day beyond the two (2) year period required for installation of public improvements that the public improvements have not been completed and received the approval of the Village, unless an extension of time is granted by the Village, upon written application of the subdivider and the recommendation of the Village Engineer.
         g.   Snowplowing Required: The subdivider shall be responsible for the maintenance of the public improvements as installed until the improvements are completed according to the approved plans and formally accepted by the Village. Until the public improvements are accepted by the Village, the subdivider shall be responsible for maintenance, including snowplowing, of the roads.
   B.   Action By Village Clerk: The Village Clerk shall not certify the approval of the Village President and Board of Trustees on the final plat until the requirements of this Section have been completed.
   C.   Security For Installation Of Improvements:
      1.   General Improvements: Prior to the approval of the final plat of any subdivision, the developer shall deposit with the Village an irrevocable letter of credit or an irrevocable letter of commitment in substantially the form contained in Appendix I on file in the Village Clerk's office, in an amount not less than one hundred twenty five percent (125%) of the estimated costs of the construction of all public improvements as estimated by the Village Engineer, excluding designated natural areas, but including all roads, ditches, culverts, sewers, landscaping, and all other public improvements, including a sum as estimated by the Village Engineer for the cost of snowplowing for three (3) seasons. The term of said security shall be for two (2) years.
      2.   Designated Natural Areas: Prior to the approval of the final plat of any subdivision, the developer shall deposit with the Village an irrevocable letter of credit or an irrevocable letter of commitment in substantially the form contained in Appendix I on file in the Village Clerk's office, in an amount not less than one hundred twenty five percent (125%) of the estimated costs of the construction and completion of the designated natural areas and associated buffer zones, as estimated by the Village Planner. The term of said security shall be for three (3) years. The natural areas will be held to the performance standards as outlined in Section 7-8-6 of this Code, which include the necessary grading, ground preparation, planting, monitoring and management. Compliance with performance standards shall be verified through an annual monitoring program undertaken by the developer. Annual reports summarizing the results of the monitoring shall be provided to the Village no later than December 1 of each year.
      3.   Reduction In Security: The securities as approved may be reduced from time to time upon recommendation of the Village Engineer (re: general improvements), or the Village Planner (re: natural areas), and approval of the Village Board provided that one hundred twenty five percent (125%) of the estimated cost of the balance of public improvements at all times be retained by the Village to secure the completion of all public improvements. The security for the designated natural areas may be incrementally reduced based on the annual attainment of performance standards and the estimated cost of potential remediation that could be required to meet said performance standards.
      4.   Renewal Of Security: The above noted securities may be renewed upon the recommendation of the Village Engineer and/or Village Planner and approval of the Village Board. However, the amount of the security will increase by twenty five percent (25%), and the term of the security will decrease by one-half (1/2).
   D.   Guarantee Of Improvements:
      1.   General Improvements: Upon completion of the public improvements (excluding the designated natural areas), the developer shall notify the Village Engineer in writing and request an inspection of the improvements. The developer shall submit, with the request, an as-built plan covering the improvements to be accepted. After the improvements have been inspected by the Village Engineer and found to be complete according to the approved plans and specifications, the general public improvements may be accepted by the Village Board. The developer shall guarantee the public improvements against defective workmanship and/or materials for a period of one year from the date of acceptance. As a precondition to the acceptance of the general public improvements, the developer shall be required to deposit with the Village an irrevocable letter of credit or an irrevocable letter of commitment in substantially the form contained in Appendix II on file in the Village Clerk's office, to provide financial security for the guarantee in the amount of ten percent (10%) of the cost of the original improvements, or ten thousand dollars ($10,000.00), whichever is greater. These funds shall be held by the Village, and shall be available to repair defects in material or workmanship which the developer fails to repair or replace within thirty (30) days of receipt of written notice. After the one year guarantee period, all remaining funds shall be released to the developer.
         a.   Designated Natural Areas: Upon completion of a three (3) year period of natural area performance standards, the developer shall notify the Village Planner in writing and request a final inspection of the natural areas. The developer shall submit, with the request, an as-built plan and all other documents necessary to confirm compliance with the performance standards. After the wetlands and associated buffer zones, and other designated natural areas have been inspected by the Village Planner and found to be complete according to the approved plans and specifications, the designated natural areas may be accepted by the Village Board. The developer shall guarantee the public improvements against defective workmanship and/or materials for a period of two (2) years from the date of acceptance. As a precondition to the acceptance of the natural area improvements, the developer shall be required to deposit with the Village an irrevocable letter of credit or an irrevocable letter of commitment in substantially the form contained in Appendix II on file in the Village Clerk's office, to provide financial security for the guarantee of the continued management of the natural areas, in the amount of ten percent (10%) of the cost of the original improvements, or two thousand dollars ($2,000.00), whichever is greater. These funds shall be held by the Village, and shall be available to repair defects in material or workmanship which the developer fails to repair or replace within thirty (30) days of receipt of written notice. After the two (2) year guarantee period, all remaining funds shall be released to the developer, and the guarantee of the maintenance/management of the natural areas will become the responsibility of the homeowners' association.
   E.   Subdivisions Outside Corporate Limits: Such agreements, as set forth above, shall not be required for subdivisions located in the unincorporated areas within one and one-half (11/2) miles beyond the Village limits when there is evidence that agreements are entered into between the owner or subdivider and Lake County, except when the Village standards for public improvements are of higher quality than Lake County standards, such agreements may be required by the Village. (Ord. 99-O-791, 6-7-1999)