1. No final major subdivision application (whether for an entire tract or a section thereof) shall be approved by the Board until the satisfactory completion and performance of all required public improvements has been certified to the Board by the Township Engineer unless the owner shall have performed the following:

a. Satisfactorily completed all required utility installations and their appurtenances, including water mains, drainage and detention facilities, culverts, storm sewers, sanitary sewers or dry sewers and public improvements of open space;
b. Satisfactorily completed all required grading and the "macadam base course" surfacing of all streets;
c. Satisfactorily completed the construction of all required curbs; and/or
d. Filed with the Township a performance guarantee in accordance with Subsection 902.D, below, of this ordinance, sufficient in amount to cover the cost of all remaining required improvements, as estimated by the Township Engineer, and assuring the installation of said improvements on or before an agreed date and as hereinafter provided.

2. Except as hereafter provided, the remaining required improvements shall be at least 50% completed as to each category set forth in the performance guarantee within one year from the date of final approval or by such time as 50% of the lots in the section in question have been conveyed in any manner by the applicant, whichever shall first occur. At least 75% of the remaining required improvements shall be completed as to each category as set forth in the performance guarantee within 18 months from the date of final approval, or at such time as 75% of the lots in the section in question have been conveyed in any manner by the applicant; whichever shall first occur. Such improvements shall be 100% completed and accepted by the Township within two years from the date of final approval or at such time as all of the lots in the section in question shall first occur. It is the intention of the Township Council that this requirement will provide to those living in each new section of a subdivision a lot that is as complete as possible with respect to tract and individual lot improvements.

B. Requirements Specific to Major Site Plans. No final major site plan application (whether for an entire tract or a section thereof) shall be approved by the Board unless: 1) the Township Engineer has certified to the Board that all public improvements required by the preliminary site plan approval have been satisfactorily completed or, 2) the applicant, with the approval of the Planning Board or the Zoning Board of Adjustment, as the case may be, has entered into a developer's agreement with the Township in a form satisfactory to the Township Attorney and authorized by the governing body, requiring the installation and maintenance by the applicant (and the applicant's successors in interest) of the public improvements, imposing such limitations upon, and/or staging of, the development of the site as are necessary to ensure orderly construction of the public improvements on or before an agreed upon date by the filing of a performance guarantee in accordance with Subsection D of this ordinance.

C. Requirements Specific to Minor Subdivisions and Minor Site Plans. In the case of a minor site plan and/or minor subdivision, in the event that the developer elects to complete all improvements without posting the performance guaranty required by Subsection D hereinbelow, no construction shall be commenced until a revised plan is submitted and signed, incorporating all conditions of approval. The developer shall still post the inspection escrow and notify the Township Engineer prior to commencement of work. The Administrative Officer shall have the power to waive the requirement of an inspection escrow for minor site plans only where the site improvements are established to be less than $3,500, in which case the Township building inspection staff shall perform the inspections, and notice of work to be commenced shall be given to the Township Uniform Construction Code Official instead of to the Township Engineer. Whether or not an inspection escrow is required, all site improvements under this subsection must be completed prior to the issuance of a Certificate of Occupancy, or within 120 days of a Temporary Certificate of Occupancy if the performance guaranty covering the balance of the uncompleted improvements has been posted.

D. Performance Guarantee.
 

1. A performance guarantee estimate shall be prepared by the Township Engineer for review and approval, setting forth all required improvements as determined by the Board and their estimated cost, provided that no performance guarantee shall be required for the installation of utilities, when said utility improvements will be installed by the applicable utility company. Any adjustment in the amount of the performance guarantee shall be approved by resolution of the Township Council.

2. The cost of the installation of the required improvements shall be estimated by the Township Engineer based on documented construction costs for public improvements prevailing in the general area of the Township. The developer may appeal the Township Engineer's estimate to the Township Council. The Township Council shall decide the appeal within 45 days of receipt of the appeal in writing by the Township Clerk. After the developer posts a guarantee with the Township based on the cost of the installation of improvements as determined by the Township Council, he may institute legal action within one year of the posting in order to preserve the right to a judicial determination as to the fairness and reasonableness of the amount of the guarantee.

3. The applicant shall present two copies of the performance guarantee in an amount equal to 120% of the approved construction cost performance guarantee estimate for approval as to form and execution by the Township Attorney; additional copies of the performance guarantee shall be forwarded by the owner to the Planning Board Attorney or Zoning Board of Adjustment Attorney, as the case may be. The performance guarantee estimates, as prepared by the Township Engineer and approved by the Township Council, shall be appended to each performance guarantee posted by the obligor.

4. The performance guarantee shall be made payable and deposited to the Township of Medford and shall be in the form of cash, irrevocable letter of credit or certified check or a performance bond in which the applicant shall be principal, the bond to be provided by an acceptable surety company licensed to do business in the State of New Jersey. The Township shall issue its receipt for such deposits and shall cause the same to be deposited in the name of the Township to be retained as security for completion of all requirements and to be returned to the owner on completion of all required work or, in the event of default on part of the applicant, to be used by the Township to pay the cost and expense of obtaining completion of all requirements.

5. Ten percent of the amount of the approved performance guarantee shall be deposited by the applicant in cash with the Township. The remaining 90% may be in cash, irrevocable letter of credit or surety bond. In the event of default, the 10% cash shall be first applied to the completion of the requirements and any bidding and legal costs associated therewith, and the remaining 90% cash, letter or credit, or surety bond shall thereafter be resorted to, if necessary, for the completion of the requirements and any additional bidding and legal costs associated therewith.

E. Start of Construction. Construction pursuant to a site plan or subdivision approval shall not commence until:

1. The applicant has paid all fees required by this ordinance;
2. The applicant has received all other governmental approvals required by the Board's resolution of memorialization granting subdivision and/or site plan approval;
3. All revisions to the submitted plat or plan required by the Board at the time of subdivision or site plan approval have been filed with and approved by the Township Engineer and any other individual or group as may have been specified by the Board in the applicable resolution of memorialization granting subdivision and/or site plan approval.
4. The applicant's construction plans have been filed with and approved by the Township Engineer;
5. The applicant has had a preconstruction meeting with the Township Engineer in accordance with § DR-1002A of this ordinance for the purpose of forecasting and resolving problems that may arise during the time of construction.

F. Inspection and Tests. See § DR-902F for detailed information.

G. Release. The Township Council, by resolution, shall either approve the improvements determined to be complete and satisfactory by the Township Engineer, or reject any or all of these improvements upon the establishment in the resolution of cause for rejection, and shall approve and authorize the amount of reduction to be made in the performance guarantee relating to the improvements accepted, in accordance with the itemized cost estimate prepared by the Township Engineer and appended to the performance guarantee pursuant to Subsection D.3, above, of this ordinance. This resolution shall be adopted not later than 45 days after receipt of the list and report prepared by the Township Engineer. See § DR-902G for more information.

H. Conditions and Acceptance of Improvements. The approval of any application for development by the Township shall in no way be construed as acceptance of any street or drainage system or other improvement. No improvements shall be accepted by the Township Council unless and until all of the following conditions have been met. See § DR-902H for more information.

I. Extension of Time. The time allowed for the installation of the improvements for which the performance guarantee has been provided may be extended by the Township Council by resolution, provided that the current cost of installation of such improvements shall first be redetermined by the Township Engineer, and if such current cost is found to be greater than the cost as originally determined, the applicant shall be required to increase the amount of the performance guarantee to an amount equal to 120% of the installation cost as redetermined. In the event that the redetermined cost shall be less than the cost as originally determined, and in further event that the applicant's performance guarantee exceeds one 120% of such redetermined costs, the applicant shall be entitled to a reduction of the performance guarantee to an amount equal to 120% of such redetermined costs.

J. Default by Developer. If the required improvements are not completed or corrected in accordance with the performance guarantee, the obligor and surety, if any, under the performance guarantee shall be liable thereon to the Township for the cost of the improvements not completed or constructed, and the Township, either prior to or after receipt of the proceeds thereof, may complete the improvements. Such completion or correction of improvements shall be subject to the public bidding requirements of the "Local Public Contracts Law," P.L.1971, c.198. For purposes of this subsection, "default" shall mean failure to install the improvements in accordance with Township standards of construction, including but not limited to failure to install the improvements prior to the expiration of the performance guarantee. The Township Engineer's certification that the developer has defaulted in compliance with the required standards of construction and installation of improvements shall be the basis for Township Council action which rejects the improvements, withholds approval, withholds construction permits or formally declares default and authorizes collection on the performance guarantee.

K. Penalties. In addition to the penalties for violation of this ordinance in accordance with § 1004: Penalties, the Township Engineer is specifically authorized to require the replacement of any lands, buildings, structures and site improvements (including clearing, whether on-site or off-site) or of any other work commenced or continued on any site for which an approval is required pursuant to this ordinance in violation of any stop-construction order or the standards for construction as established by the Township.