(A) The Township Board, after recommendation by the Planning Commission, or in its own discretion, may require reasonable performance guarantees or assurances deemed satisfactory in the circumstances and as authorized by law. The amount of the performance guarantee shall be determined by the Township Board based on a recommendation from the Planning Commission.
(B) Such arrangements shall be conditioned upon faithful compliance with all of the provisions and requirements of the PUD and construction and placement of all of the improvements therein.
(C) In its discretion, the Township Board, upon recommendation by the Planning Commission, may rebate or refund a proportionate share of the amount specified in a performance bond, letter of credit or other written assurance, based upon the percent or other portion of improvements completed, as verified by the Planning Commission or appropriate township official.
(Ord. passed 7-12-2012, § 11.12)