§ 905. Maintenance Guarantees

A. Maintenance Guarantees — Amount. The Planning Board shall require that a maintenance guarantee be provided by the developer for all improvements which are being dedicated to the Town for public acceptance and maintenance. The amount of the maintenance guarantee shall be five percent (5%) of the original performance bond or other original guarantee amount. In the absence of such a guarantee, five percent (5%) of the total estimated cost of all required improvements shall be required.

B. Maintenance Guarantees — Period. The initial period for such maintenance guarantee shall be one (1) year. At the end of the one year maintenance period, the Administrative Officer shall inspect all improvements subject to the guarantee and shall certify in writing to the Planning Board as to their condition. If found to be unacceptable, the Administrative Officer shall recommend an extension of the guarantee period to the Planning Board, and the original funds shall not be returned to the developer. If public improvements are in good condition and have not been damaged due to the fault of the developer, or through faulty workmanship or design, the maintenance guarantee shall be returned to the developer. In cases where the Planning Board finds there are extenuating circumstances, the initial maintenance period may be established for a period longer than one year. The reasons for establishing a longer maintenance period and the nature of the extenuating circumstances shall be made a part of the record.