Prior to final plat approval by the Planning Commission and acceptance of the required improvements by the Village of Lordstown, the developer shall have posted a maintenance guarantee which shall be deposited and remain at all times with the Clerk of the Village of Lordstown. The maintenance guarantee shall be in the amount of 20 percent of the total project cost for each separate utility or improvement constructed or guaranteed to be constructed in any one particular phase, as determined by the Road Commissioner, the Board of Public Affairs and/or County Sanitary Engineer. The guarantee shall be used as a security to ensure that the developer will perform routine maintenance of all improvements and shall repair all failures due to faulty construction as soon as they become apparent. The developer shall also make repairs due to erosion or abuse by utility companies installing utilities and shall repair all failure, for all other reasons, to maintain the improvements in compliance with the requirements of these Subdivision Regulations for a period of two years from the date on which the work was completed and approved by the Village of Lordstown.
In cases where a performance guarantee has been posted for uncompleted work in a proposed subdivision, the maintenance guarantee covering that portion of the improvements for which the uncompleted work is a part, shall be continual and enforceable for a period of two years from the date on which the work covered under the performance guarantee was completed and approved by the Village and/or County and the performance guarantee released by the Village of Lordstown Council. Evidence of this extended maintenance guarantee shall be submitted prior to the release of the performance guarantee by the Village of Lordstown Council.
In cases where access to the proposed subdivision is along an existing Village road, a maintenance guarantee shall be submitted in the amount as determined by the Village Road Commission to repair any damage and remove any dirt or debris in the roadway that may have been caused by the construction of the proposed subdivision. A preconstruction and post- construction inspection of the access road shall be required by the Village Road Commissioner and the developer.
The maintenance guarantee shall be in the form of a maintenance bond, or other financial instrument acceptable to the Village Solicitor, to guarantee the remedy of any defect in labor or materials of the installed improvements. The maintenance guarantee shall be made payable to and enforceable by the Village of Lordstown Council and shall provide that the developer, his/her heirs, successors and their agents will comply with all requirements of these Subdivision Regulations.
(Ord. 56-2005. Passed 10-3-05.)
(Ord. 56-2005. Passed 10-3-05.)