(A) The owner shall guarantee all improvements to the village systems for a period of at least one year from the date such improvements are conditionally accepted by the village. This guarantee shall include any and all defects and deficiencies in workmanship and materials. The owner shall be responsible for the cost of all labor, materials, equipment and other incidentals required to maintain, repair, and replace any or all of such improvements and to maintain them in good and proper condition, excluding ordinary wear and tear, but including filling trenches and restoring lawns, sidewalks, yards, streets, sewers, water lines, pipelines, and the like, during the one-year guarantee period. In the event the owner fails to make such maintenance, repairs, or replacements within a reasonable time after notice in writing by the village or in the event of an emergency which may endanger life or property, the village may make or cause to be made such repairs or replacements at the expense of such owner. In order to indemnify the village for the expense of any such repairs or replacements made by or at the direction of the village, a guarantee shall be made by filing with the village evidence satisfactory to the Village Attorney one of the following in an amount equal to 10% of the cost of the improvements.
(1) A maintenance bond;
(2) A certified check; or
(3) A certificate of deposit or an irrevocable letter of credit made out to the village.
(B) The maintenance guarantee will be released upon final acceptance of the improvements by the village.
(Ord. 287, passed 3-12-2024)