1. The following methods of bonding for public improvements proposed for Town
acceptance are acceptable:
A. Cash
B. Surety company bond
C. Saving passbook endorsed to the Town, accompanied by a withdrawal slip made payable to the Town.
D. Certified, cashier's or bank check
E. With the approval of the Town Council, an assessment on each lot in the subdivision served by the proposed road, including, but not limited to the following stipulations:
i. Assessment on each lot in proportion to estimated cost of road as approved by Commission.
ii. Assessment to be collected if lot is sold, and placed in escrow.
2. In lieu of the above requirements, the subdivider may apply for conditional approval of a subdivision. In the case of conditional approval, the following statement must be added above the approval block:
"CONDITIONAL APPROVAL ONLY"
"This subdivision has received conditional approval per Section 8-25 of the Connecticut General Statutes, as amended. No lot shown can be sold or offered for sale until final approval has been received from the Planning & Zoning Commission, and a revised plan indicating said final approval has been filed with the Town Clerk."
Either of the following is required prior to issuing final approval to a subdivision which has received conditional approval:
A. Cash, surety company bond, savings passbook, certified check, or assessment on each lot in the subdivision, as detailed above.
B. The actual construction, maintenance, and installation of any improvements or utilities required by the Planning and Zoning Commission, and acceptance of said improvements of utilities by the Town.
3. A maintenance bond, equal to not less than ten percent (10%) of the cost of improvements accepted by the Town, will be held for one year after said acceptance following the release of a performance bond (or portion thereof) or Town acceptance of improvements. The purpose of the maintenance bond is to protect the Town against defective workmanship, materials or design of improvements.
A. The developer shall repair all defects in construction or operation during the period covered by the maintenance bond. The developer's failure to perform needed repairs within a reasonable time when so requested by the Town Council may result in the Town's undertaking the repairs and billing the developer for the cost of the repairs.
B. No performance bond shall be released until such time as said maintenance bond has been accepted by the Commission and posted with the Town of East Hampton.
C. No maintenance bond shall be approved by the Commission unless said bond is in a form acceptable to the Commission. The Commission reserves the right to add conditions to the bond which, in the opinion of the Commission, are deemed necessary to indemnify against defective workmanship, materials or design of the improvements.
D. No maintenance bond shall be released by the Commission until it has been in effect for a minimum of one year duration. The Commission shall release said bond only upon receipt of a favorable written report from the Superintendent of Public Works, Town Engineer, or another qualified source retained by the Town to inspect all approved and required public improvements, indicating that all improvements are free of defective workmanship, materials, or design, or that any defects have been corrected to their satisfaction. This inspection is not intended to relieve the developer of liability for any cause of action arising from a covert or overt defect.
4. The amount of any bond shall be set by the Commission. Such bond shall include an amount to cover the escalation of construction and other costs for a two (2) year period. Every two (2) years the cost of the remaining work shall be reviewed and the bond amount adjusted to reflect current and projected construction and other costs.
5. As-Built plans are required with wither of the provisions for 1 and 2. above showing the location of all public improvements to include: monuments, utility lines, catch basins, drainage systems and structures, public sewage disposal systems and lines and all water lines which will serve the subdivision. The As-Built plans must be substantially complete, correct, comprehensive and exact and submitted within sixty (60) days after completion of all public site improvements. All maps shall be of a scale of 1" = 40'.
6. A cash performance bond shall be posted for all erosion and sediment control measures, not covered as part of the maintenance bond in an amount approved by the Town Engineer for the subdivision requirements.
7. No more than 3 Bond reductions shall be allowed prior to Road acceptance with the approval of the Town Engineer. One before the first course of pavement, and two after the first course of pavement. No waivers of this section shall be allowed. (effective 12/06/03)
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