Section 20-2100 PERFORMANCE GUARANTEE

Section 20-2101 In the interest of insuring compliance with the Zoning Ordinance provisions, protecting the natural resources and the health, safety and welfare of the residents of the township and future users or inhabitants of an area for which a site plan for a proposed use has been submitted, the Planning Commission may require the applicant to deposit a performance guarantee as set forth below.

Section 20-2102 The purpose of the performance guarantee is to insure completion of improvements connected with the proposed use as required by this Ordinance, including, but not limited to, roadways, lighting, utilities sidewalks, drainage, fences, screens, walls, landscaping and widening strips.

Section 20-2103 Performance guarantee as used herein shall mean a cash deposit, certified check, irrevocable bank letter of credit or corporate surety bond in the amount of the estimated cost of the improvements to be made as determined by the applicant and verified by the Zoning Administrator.

Section 20-2104 Where the Planning Commission' requires a performance guarantee, said performance guarantee shall be deposited with the Township Treasurer prior to the issuance of a zoning permit by the Zoning Administrator for the development and, use of the land. Upon the receipt of the performance guarantee the township shall deposit the performance guarantee, if in the form of cash deposit or certified check, in an interest bearing escrow account.

Section 20-2105 An approved site plan shall also prescribe the period of time within which the improvements for which the performance guarantee has been required are to be completed. The period will begin from the date of the issuance of the building permit.

Section 20-2106 In the event the performance guarantee deposited is a cash deposit or certified check, the township shall rebate to the applicant fifty percent (50%) of the deposited funds when sixty percent (60%) of the required improvements are completed as confirmed by the Zoning Administrator, and the remaining fifty percent (50%) of the deposited funds when one hundred percent (100%) of the required improvements are completed as confirmed by the Zoning Administrator. If the applicant requests a temporary certificate of occupancy from the Antrim County Building Department without completing the required exterior improvements, then the township may use the funds to assure compliance with the Zoning Ordinance standards and the specifications of
the approved site plan.

Section 20-2107 Upon the satisfactory completion of the improvement for which the performance guarantee was required, as determined by the Zoning Administrator, the Treasurer shall return to the applicant the performance guarantee deposited and any interest earned thereon.

Section 20-2108 In the event the applicant defaults in making the improvements for which the performance guarantee was required within the time period established by the township, the township shall have the right to use the performance guarantee deposited and any interest earned thereon to complete the improvements through contract or otherwise, including specifically the right to enter upon the subject property to make improvements.

Section 20-2109If the performance guarantee is not sufficient to allow the township to complete the improvements for which it was posted, the applicant shall be required to pay the township the amounts by which the costs of completing the improvements exceeds the amount of the performance guarantee deposited.

Section 20-2110 Should the township use the performance guarantee or a portion thereof, to complete the required improvements, any amounts remaining after said completion shall be applied first to the township administrative costs in completing the improvement with any balance remaining being refunded to the applicant.

Section 20-2111 If the applicant has been required to post a performance guarantee or bond with another governmental agency other than the township to insure completion of an improvement associated with the proposed use prior to the township's conditional approval, the applicant shall not be required to deposit with the township a performance guarantee for that specific improvement.

Section 20-2112 At the time the performance guarantee is deposited with the township and prior to the issuance of a building permit, the applicant shall enter an agreement incorporating the provisions hereof with the township regarding the performance guarantee.