Section XIV - Performance and Maintenance Security
A. Posting of Security
1. Security shall be in a form and amount, and with surety, and other conditions all satisfactory to the Board to insure for the Town the construction and installation of any required improvements within a period of time not to exceed three (3) years. The time limit for completion from the date of final approval shall be expressed in the security. The security shall remain valid and available until drawn upon by the Town or released in accordance the procedures specified below.
2. The security shall be in one of the following forms:
a. certified check or bank check properly endorsed to the Town of North Hampton.
b. irrevocable, self-calling letter of credit submitted in the standard format approved by the Town. (If other than the Town's approved form, the letter of credit shall be reviewed and approved by the Planning Board and Town Counsel as to proper legal form and enforceability. The cost of this review shall be borne by the applicant.)
c. a bond issued by a guarantee company authorized to do business within the State of New Hampshire, in an amount and manner acceptable to the Board.
3. The applicant shall file with the Board a detailed estimate of all costs of required street improvements, drainage structures, utilities, or other improvements. The Board may have the estimate reviewed by a professional consultant, if deemed necessary. The cost of this review shall be borne by the applicant. The Board, after considering the estimate, and other pertinent information, shall determine the amount of the performance security required.
4. The Board may further extend the time of three (3) years for completion when the reasons for delay were unforeseeable and beyond the reasonable control of the applicant. Any such extension shall be in writing and approved by a majority of the Board and shall only be granted after ensuring the validity, adequacy, and availability of the security for such extension. Any such extension shall be solely at the discretion of the Planning Board.
B. As-Built Drawings (Amended 4/12/2003)
After completing an approved project, the applicant shall submit as-
built drawings suitable for recording at the Registry of Deeds, and
after review and approval, the Town shall record those drawings. The
applicant shall be responsible for all costs associated with this
article.
The Board may determine that the scope of a proposed Site Plan does not
warrant as-built drawings. At its sold discretion, the Board may waive
this requirement prior to granting approval of a site plan, or the
Board may waive this requirement on the request of the applicant in the
normal course of the site plan review process. In either event, the
decision to waive this requirement will depend on the Board's judgement
of the need for as-built drawings in relation to the scope and nature
of the proposed project.
In inspecting a completed project and prior to issuing a Certificate of
Occupancy, the Town Engineer may determine that deviations from
approved plans were not sufficiently material to require separate as-
built drawings. In such cases, upon written recommendation by the Town
Engineer, the Board may elect to waive the requirement for as-built
drawings and authorize the issuance of a Certificate of Occupancy.
Unless the requirement for as-built drawings is waived or pre-empted by
the issuance of a Certificate of Occupancy as provided above, prior to
the issuance of a Certificate of Occupancy, the applicant shall have
prepared by a licensed surveyor and/or engineer as-built drawings.
As-built drawings shall show the accurate location, invert and top
grade of all drainage structures, all sewer structures, water mains and
appurtenances and ties thereto, utilities, and profiles, centerline
street and ditch grades on 100-foot stations to the nearest 0.1 (one-
tenth) foot. Three prints of this information shall be submitted to
the Planning Board, or its agent, for approval. The Board's approval
must be obtained prior to the issuance of a Certificate of Occupancy.
In the event that the Town Engineer determines that as-built drawings
differ in any material respect from plans previously approved by the
Planning Board, the Board shall review the Town Engineer's findings and
decide whether such difference are sufficiently material as to require
a submission of portions or all of the project plans to the Planning
Board under these Regulations or any part thereof.
C. Release of Security
1. The performance security shall be released in phases as portions of the secured improvements or installations are completed and approved by the Board or its designee, in accordance with the plan approved by the Board.
2. The performance security shall not be released until the Board has certified after inspection that the required improvements have been completed in accordance with the approved plat. A fee, payable by the applicant, may be charged to cover the cost of professional consultation selected by the Board to assist in determining completion of all required work to the construction standards of the Town.
3. All security shall be held by the Selectmen of the Town. The Selectmen shall not draw upon or release any security until they are in receipt of a resolution passed by a majority of the Planning Board stating the purpose and amount to be drawn or released. The Selectmen shall enforce such securities by all appropriate legal and equitable remedies.
D. Additional Security Required
In cases where a building is completed and a Certificate of Occupancy is requested prior to the completion of all site elements as required by the Planning Board and/or depicted on the approved and signed plan(s), the Planning Board, or their designee, may require the applicant to provide security for the work remaining as defined in this chapter. In no case shall a Certificate of Occupancy be issued until all of the required site elements are completed to the satisfaction of the Town, or until security, as described herein, has been accepted. (Amended 9-1-98)
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