TOWN OF EAST HAMPTON
The following is a summary guide for bonding requirements and types of bonds. See Section 28.4 of the Zoning regulations and Section X of the Subdivision Regulations (attached) for more detailed description of regulatory requirements.
NOTE: all bonding will be in place prior to the start of any construction
Bond amount shall include an amount and cover escalation costs for two years. Every two
years the bond will be reviewed and adjusted.
TYPES.
Four types of bonds are used for site improvements.
A. Performance- for site plan improvements, including those for road construction and
Subdivision improvements
B. Landscape- for vegetative measures (installation and replacement)
C. Erosion Control- all measures, cost installation and replacement
(cash or letter of credit only)
D. Maintenance- required 10% of original bond, to remain for at least one year after
Project/road completion
FORMS of bonding allowed
1. Cash
2. Certified Check
3. Passbook
4. Surety Bond (shall expire not less than 1 year after issuance)
5. Irrevocable Letter of Credit
Attached find Bond Forms allowed by the Town of East Hampton
PROCEDURE
1. Bond estimate shall be submitted as a part of the application
2. Bond amount shall be approved by staff
3. Bond amount shall be approved by the appropriate Commission
4. Bond/s shall be filed prior to any construction
5. Bond reduction shall be requested in writing
6. Bond reduction shall be in accordance with the format as described
7. Bond reduction shall be approved by the appropriate Commission
8. Bond release shall be requested in writing
9. Bond release shall be approved by staff
10. Bond release shall be approved by the appropriate Commission where applicable
11. Where applicable, a 10% Maintenance bond is required
RELEASE REQUIREMENTS
PARTIAL release may be approved under the following conditions
Subdivisions
1. Binder course for road is in place
2. Site is stable
3. 10% maintenance bond is required
Site Plan Improvements
1. Site is stable
2. 10% maintenance bond is required
Landscape- no partial release
1. 10% maintenance bond required
Erosion Control- no partial release
Release Requirements
1. Request for release in writing
2. Inspection by staff with recommendation to PZC for release
3. PZC approval
4. Release shall not be less than the 10% Maintenance bond required
FINAL RELEASE
A release of the remainder of the bond minus a 10% maintenance bond requirement may be requested at the time of road approval or project completion
At the end of one year the 10 % maintenance bond may be released upon inspection by staff, that all requirements in accordance with the subdivision or site plan have been met
OTHER REQUIREMENTS
All bonds shall contain an expiration date
Provider shall include the following in all bonds
Sixty (60) days prior to the expiration of the bond, the provider shall notify the Town of East
Hampton.
The provider shall forward proof of renewal at least 30 days prior to the expiration date
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