A. Intent and scope of requirements.
To ensure compliance with the provisions of this Ordinance and any conditions imposed there under, the
or
may require that a
be deposited with the
to insure faithful completion of improvements, in accordance with Section 505 of the Michigan Zoning Enabling Act, Public Act 110 of 2006, as amended. (revised 10/3/2006)
Improvements for which the
may require a
include, but are not limited to,
,
, walls, lighting,
and parking, acceleration/deceleration lanes, traffic control devices, sidewalks, and land reclamation activities.
B. General requirements. (revised 1/12/2010) The
shall meet the following requirements:
1. The
shall be in the form of an insurance bond, an irrevocable bank letter of credit, or cash escrow. Any such
shall not have an expiration date and shall include a provision that calls for notification of the
if the bond is canceled. If the applicant posts a letter of credit, the credit shall require only that the
present the credit with a sight draft and an affidavit signed by the Township Supervisor attesting to the
's right to draw funds under the credit. If the applicant posts a cash escrow, the escrow instructions shall provide that the escrow agent shall have a legal duty to deliver the funds to the
whenever the Township Supervisor presents an affidavit to the agent attesting to the
's right to receive funds whether or not the applicant protests that right.
2. The performance guarantee shall be submitted at the time of issuance of the permit authorizing the activity or project. If appropriate based on the type of
submitted, the
shall deposit the funds in an interest bearing account in a financial institution with which the
regularly conducts business.
3. The amount of the
shall be sufficient to cover the estimated cost of the improvements for which the
is required. The applicant shall provide an itemized schedule of estimated costs to complete all such improvements. The exact amount of the
shall be determined by the
.
4. The entire
shall be returned to the applicant following inspection by the
and a determination that the required improvements have been completed satisfactorily. The
may be released to the applicant in proportion to the work completed on various elements, provided that a minimum of 10% shall be held back on each element until satisfactory completion of the entire project.
5. An amount not less than 10% of the total
may be retained for a period of at least one year after installation of landscape materials to insure proper maintenance and replacement, if necessary. This amount shall be released to the applicant upon certification by the
that all landscape materials are being maintained in good condition.
C. Unsatisfactory completion of improvements.
Whenever required improvements are not installed or maintained within the time stipulated or in accordance with the standards set forth in this Ordinance, the
may complete the necessary improvements itself or by contract to an independent developer, and assess all costs of completing said improvements against the
. Prior to completing said improvements, the
shall notify the owner, site plan review applicant, or other firm or individual responsible for completion of the required improvements.
(Ord. passed 7-9-2013; Ord. 59, passed 8-13-2014)