Preston Township Wayne County - Shepstone Management Company

14.2.3 Default - In the event of default, the obligor and surety shall be liable thereon to the
Township for the cost of the improvements or parts thereof not installed. If proceeds of
such bond, or other security are insufficient to pay the cost of installing or making repairs
or corrections to all the improvements covered by said security, the Board of Supervisors
may, at its option, install part of such improvements in all or part of the subdivision or land
development and may institute appropriate legal or equitable action to recover the
moneys necessary to complete the remainder of the improvements. All of the proceeds,
whether resulting from the security or from any legal or equitable action brought against
the developer, or both, shall be used solely for the installation of the improvements
covered by such security, and not for any other municipal purpose.
§ 15 Inspection Costs Related to Improvements
Prior to the certification of any improvements or release of any guarantee, the subdivider shall pay all
inspection and related costs (for professional services, meetings, advertisements and expenses other than
legal) associated with the improvements or guarantees. These costs will be assessed as a special fee
apart from any regular fees provided for in § 47 of these regulations. Said payment shall be made to the
Township.
§ 16 Maintenance Guarantees
Preston Township, Wayne County
Subdivision and Land Development Ordinance
Where improvements are being dedicated to the Township, the subdivider shall comply with the applicable
requirements of any other Township ordinances governing dedication of improvements and submit a
maintenance bond or other approved performance guarantee to guarantee maintenance and repair of
those improvements for eighteen months from the date of dedication. The maintenance bond shall
generally be a maximum of 15% of the costs of improvements, subject to approval of the Board of
Supervisors.
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