A. After Planning Board or Zoning Board of Adjustment as applicable approval of a Site Plan but prior to the issuance of a building permit, the applicant shall tender to the Township a Performance Guarantee for all improvements approved on the plan which involved improvements in public rights-of-way, improvements extending utility and drainage facilities within the site; and conditions involving the control of storm water runoff, soil removal, grading, and soil erosion and sedimentation control. The approval of a Site Plan shall be incomplete until receipt of a Performance Guarantee secured in the same manner prescribed for Performance Guarantees in the Subdivision Ordinance

B. Performance Guarantees may be in the form of a Performance Bond, which shall be issued by a bonding or surety company authorized to do business in the State of New Jersey and approved by the Township Committee as to form, sufficiency and execution, by certified check returnable to the depositor after full compliance, by cash or by other type of surety approved by the Township Attorney. The type or types of Performance Guarantees and the required percentage of each type in any given case shall be determined by the Township Committee.

C.The applicant shall assume all liability for improvements until such time as the improvements are accepted by the Township.

D. When all of the required improvements have been completed. the applicant shall notify the Township Committee in writing, by certified mail addressed in care of the Township Clerk, and shall send a copy to the Township Engineer Thereafter, the Township Engineer shall inspect within forty-five (45) days all the improvements and shall file a detailed report, in writing, with the Township Committee, recommending either approval, partial approval, or rejection of the improvements

E. Prior to the issuance of a Certificate of Occupancy, the filing of a Maintenance Guarantee with the Township covering all items included under the Performance Guarantee shall be required The Maintenance Guarantee shall be for an amount approved by the Township Committee upon the advice and recommendation of the Township Engineer, but for an amount not more than fifteen (15) percent of the estimate of the cost of installing of improvements The Maintenance Guarantee shall run for a period of two (2) years. The final amount of the Maintenance Guarantee shall be based, among other things, on the length of time the improvement has been installed prior to filing the Maintenance Guarantee

F. No Performance Guarantee or Maintenance Guarantee shall be required for the installation of improvements for utilities which improvements have been installed by the utility company involved