Upon conditional acceptance of the subdivision improvements by the village, the subdivider shall provide the village with a two year guarantee against defects in the subdivision improvements. The subdivider shall provide a financial guarantee equal to 10% of the construction cost of subdivision improvements for this guarantee. Defects shall be as determined by the Village Engineer, and shall include as examples and without limitation such items as settlement, damaged sidewalks, streets or streetlights, inoperable valves, siltation and erosion. At the end of the two-year period, the Village Engineer shall inspect the subdivision and inform the subdivider of any defects that must be corrected. If the subdivider does not correct the defects, the village may declare a forfeiture of the guarantee.
(2009 Code, § 35-3-9) (Ord. 91-4, passed 5-6-1991; Ord. 97-6, passed 4-14-1997)