§ 46-106. Required improvements generally; performance bond.

(a)

Before the board grants final approval of the subdivision plat, the subdivider shall follow the procedure set forth in either subsection (1) or (2) below:

(1)

a.

In an amount set by the planning board, the subdivider shall either file with the village clerk a certified check to cover the full cost of the required improvements or the subdivider shall file with the village clerk a performance bond to cover the full cost of the required improvements. Any such bond shall comply with the requirements of Village Law § 7-728 et seq. and shall be satisfactory to the board of trustees and village engineer as to form, sufficiency, manner of execution and surety. A period of one year, or such other period as the planning board may determine appropriate, not to exceed three years, shall be set forth in the bond within which required improvements must be completed. If the bond is not filed within 45 days of the approval granted in section 46-82(f), the plat shall be deemed disapproved.

b.

With respect to any dwelling fronting on a new street shown on the subdivision plat, all required improvements shall be completed to the satisfaction of the village engineer within four months after the date of initial title transfer. Failing to do so, the board of trustees may order such improvements to be installed and charge the expense thereof to the subdivider. In the case of exceptionally large subdivisions, the planning board may grant a reasonable extension of time beyond the four-month period, or alternately, may approve the completion of only a portion of the required improvements within the period specified. No bond shall be released by the village clerk except upon certification by the board of trustees to the village clerk that all required improvements have been completed to the board's satisfaction.

c.

The subdivider shall file with the village a certified check or surety bond in the amount determined by the planning board to be adequate to assure the satisfactory condition of the initial improvements for a period of one year following their completion. Any such bond shall be satisfactory to the board of trustees and village engineer as to form, sufficiency, manner of execution and surety.

(2)

The subdivider shall complete all required improvements to the satisfaction of the village engineer, who shall file with the planning board a letter signifying the satisfactory completion of all improvements required by the board. For any required improvements not so completed there shall be submitted to the board of trustees a bond or certified check covering the costs of all improvements not completed and the cost of satisfactorily installing any improvement not approved by the village engineer. Any such bond shall be satisfactory to the board of trustees and village engineer as to form, sufficiency, manner of execution and surety.

(b)

Regardless of whether procedure (1) or (2) is followed as outlined above, the subdivider shall be required to provide contingent public liability insurance in the name of the village at the same limits as the general liability policy of the village, which insurance shall apply to general liability and property damage coverage; and to meet the requirements outlined in subsection (a)(1)c. of this section.

(Code 1966, § 13-13(a))