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(A) The petitioner shall be required to maintain all public improvements serving the subdivision development and provide for snow removal on all streets until acceptance of said public improvements by the town.
(B) The petitioner shall be required to file a maintenance bond with the Town Council, covering all public improvements serving the subdivision development, one week prior to acceptance of public improvements, in an amount not to exceed 10% of the cost of the public improvements to be bonded, and in a form satisfactory to the Town Attorney. The maintenance bond is provided to assure the satisfactory condition of the required public improvements for a period of three years after the date of acceptance by the Town Council. Notwithstanding the above, the Town Council may, upon the recommendation of the Plan Commission staff, increase the maintenance bond amount to 25% and/or the period to five years for improvements that have repeated failed inspections during installation, atypical site and soil characteristics, or other unusual circumstances.
(C) The petitioner shall submit as-built drawings and plans for all public improvements in the form required by the Design Specifications and Standards Manual.
(D) The petitioner shall be required to file a maintenance agreement along with the above described maintenance bond. The maintenance agreement and maintenance bond shall be in a form acceptable to the Town Attorney, and approved by the Town Council.
(Ord. 2014-03, passed 5-12-14)