(A) Performance surety. Before the plat is signed by the officers of the PPC or is recorded, the subdivider shall file a performance bond or irrevocable letter of credit with the Administrator.
(1) Letter of credit or bond. The performance bond or letter of credit shall:
(a) Cover 100% of the installation costs of the streets, surface swales, subsurface and storm drainage systems, and seeding/erosion control.
(b) Run to the Town Council.
(c) Be in an amount determined by the Town Council to be sufficient to complete the improvements and installations in compliance with this chapter. The subdivider's engineer shall supply an estimate of the cost of improvements and installations on the project to aid in determination of the amount of surety. The engineer's estimate, however, shall not be binding.
(d) Be with surety satisfactory to the Town Council. Comply with all statutory requirements and shall be satisfactory to the counsel for the Town Council as to form, sufficiency, and manner of execution as set forth in these regulations.
(2) Responsibility of the subdivider. All required improvements shall be made by the applicant, at his expense, without reimbursement by the town.
(a) In those cases where performance surety has been posted and required improvements have not been installed within the terms of such performance surety, the town may thereupon declare the surety to be in default and require that all the improvements be installed regardless of the extent of the building development at the time the surety is declared to be in default.
(b) Any money received from the surety or otherwise shall be used only for making the improvements and installations for which the surety was provided.
(c) The subdivider shall be required to maintain at his expense a certified civil engineer or engineering firm on the job site to manage the construction of the subdivision improvements. The on-site engineer shall certify that the subdivision construction is in compliance with the detailed construction plans submitted to the PPC during the review of the secondary plat. The on-site engineer shall submit weekly progress reports to the Administrator during construction and should notify the Administrator, Paoli Engineer, and other appropriate officials when important work has been scheduled so that the town may conduct an inspection. A final report shall be submitted to the PPC and the Town Council by the engineer or his firm. If the Paoli Engineer (or the town's designee) finds upon inspection that any of the required improvements have not been constructed in accordance with the town's construction standards and specifications, the applicant shall be responsible for completing the improvements. Wherever the cost of improvements is covered by performance surety, the applicant and the bonding company shall be severally and jointly liable for completing the improvement according to specifications.
(d) The Town Council shall not accept any of the required improvements nor release the performance surety until the applicable officials have submitted a final inspection report. Such a report shall state that all required improvements have been satisfactorily completed and that the layout of all public improvements is in accordance with the construction plans submitted by the subdivider's engineer for the development. Only after this step should the Town Council consider acceptance of the improvements and the release of the performance surety.
(3) Affidavit requirement for residential subdivisions. An owner of a single-family lot shall be required to submit an affidavit at the time of application for an improvement location permit. The affidavit must provide the following requirements on the signed document:
(a) A narrative portion which describes the developer's responsibility to disclose to all builders the platting requirements of the anti-monotony zoning provisions which will be enforced by the PPC;
(b) A detailed list of all pre-conditioned platting requirements that are required for the intended residential lot; and
(c) A narrative portion which discloses the anti-monotony platting requirements will not be subject to change, unless a plat amendment is filed with the PPC.
(4) Inspections.
(a) Road inspection. It shall be the duty of the subdivider to notify the appropriate Highway Department before any construction commences on the curbs, gutters, public walks, or roads in the subdivision, such that the inspector may run any and all tests required during the construction period.
(b) Sewer and water inspection. It shall be the duty of the subdivider to notify the applicable sewer utility and water utility, before any construction commences such that the sanitarian may run any and all tests required on the sewage disposal and water supply facilities in said subdivision.
(c) Drainage inspection. It shall be the duty of the subdivider to notify the Orange County Surveyor before commencing construction so that any and all tests may be run on the drainage structures and the grading of the subdivision during the entire construction period.
(5) Completion period. The period within which required improvements must be completed shall not in any event exceed two years from date of final approval.
(6) Extension. The Town Council may, upon proof of difficulty, extend the completion date set forth in such surety for a maximum period of one additional year. The Town Council may at any time during the period of such surety accept a substitution of principal or sureties on the surety upon recommendation of counsel for the Town Council.
(B) Maintenance surety. Upon completion of all subdivision improvements and the release of the performance surety and prior to acceptance of these improvements into the Paoli maintenance system, the subdivider shall provide a three-year maintenance bond or irrevocable letter of credit. Upon completion of all infrastructure installation, the plans for such systems as built shall be filed with the office of the PPC.
(1) Letter of credit or bond. The maintenance bond or letter of credit shall:
(a) Be in an amount equal to 20% of the cost of said improvements and installations as indicated in establishment of the performance surety.
(b) Cover any necessary maintenance needed for the streets, surface swales, subsurface and storm drainage systems, and seeding/erosion control during the three-year maintenance period.
(c) Run to the Town Council.
(d) Provide surety satisfactory to the Town Council.
(2) Responsibility of the subdivider.
(a) The subdivider shall warrant the workmanship and all materials used in the construction, installation, and completion of said improvements and installations to be of good quality and have been constructed and completed in a workmanlike manner in accordance with the standards, specifications, and requirements of this chapter and the satisfactory plans and specifications for the subdivision by the PPC.
(b) Any money received from the surety or otherwise shall be used only for making the improvements and installations for which the surety was provided.
(3) Affidavit requirement for residential subdivisions.
(4) Inspections. Near the end of the three-year maintenance period and before the maintenance surety is scheduled to expire, the Administrator shall schedule an inspection of the subdivision. If the applicable officials find upon inspection that any of the required improvements are in need of repair, he shall notify the Administrator, the Town Council, and subdivider of those items in need of repair, and he shall prepare a report documenting such items. The subdivider shall be required to complete the repairs and upon the satisfactory completion of such repairs may request that the Town Council assume maintenance of all subdivision improvements and release the maintenance bond. Until acceptance of the subdivision improvements by the town, it shall be the responsibility of the subdivider to maintain the subdivision to the standards of the town.