Before the Board will release in whole or in part the interest of the Town in a performance bond, deposit or securities (or, in the case of approval with covenant, release of covenant), the applicant shall complete to the satisfaction of the Board the following:
A. Street acceptance and as-built plans. Two copies of each shall be filed with the Board of Selectmen.
(1) Street acceptance plan. The applicant shall file with the Board of Selectmen a certified street acceptance plan (or, in the case of approval with covenant, a plan of the street ways serving the lots for which a release is desired), prepared by a registered land surveyor, showing the dimensions and directions of the way, and showing monuments installed. The surveyor shall certify on the plan that the monuments have been accurately installed in accordance with these rules and regulations. This plan shall be suitable for recording or registration.
(2) As-built plan. The applicant shall file an as-built plan, prepared by a registered civil engineer or land surveyor, which shall bear a statement certifying that streets, storm drains, and other infrastructure have been constructed in accordance with these rules and regulations and any conditions approved by the Board.
B. Inspection records.
(1) The applicant shall be responsible for obtaining and submitting to the Board written evidence that the construction of the subdivision road and infrastructure was inspected and approved by the Board or its agent and that all improvements have been fully completed in accordance with these rules and regulations.
(2) The owner shall schedule a pre-construction conference to discuss the construction schedule and review the conditions of the definitive plans and all other permits with the contractor.
(3) The owner shall request to the Board or its agent inspections at least 48 hours in advance. The minimum inspections required are specified in the Appendix. If in the opinion of the Board the developer/contractor abuses inspectional services or additional inspectional services are required, the developer shall pay for them.
C. Conveying title to utilities. The applicant shall execute an instrument transferring to the Town, without cost, valid unencumbered title to all utilities and appurtenances thereto, constructed and installed in the subdivision or approved portion thereof, and conveying to the Town without cost and free of all liens and encumbrances perpetual rights and easements to construct, inspect, repair, renew, replace, operate and forever maintain such utilities, and to do all acts incidental thereto, in, through and under the whole of all streets in the subdivision or approved portion thereof, and if any such utilities have been constructed and installed in land not within such streets, then in, through and under a strip of land extending 10 feet in width on each side of the center line of all such utilities.
D. Conveying title to easements. The applicant shall execute an instrument transferring to the Town, without cost, valid unencumbered title to all easements established in connection with the subdivision or required by the Board in the definitive plan. Legal description of the easement shall appear in the deed.
E. Additional testing. If additional testing is required to confirm or verify the suitability of as-built conditions, such shall be the responsibility of the applicant under the direction of the Board or its agent.
F. Release of performance guarantee.
(1) Upon the completion of improvements, security for the performance of which was given by bond, deposit or covenant, or upon the performance of any covenant with respect to any lot, the applicant may send by registered mail to the Town Clerk a written statement in duplicate that said construction or installation in connection with such bond, deposit or covenant given has been completed in accordance with these rules and regulations. The statement shall contain the name and address of the applicant, and the Town Clerk shall present a copy of said statement to the Planning Board.
(2) If the Board determines that said construction or installation has been completed, it shall notify the Town Treasurer in writing that it releases the interest of the Town in such bond or deposit and that such bond or deposit shall be returned to the person or persons who furnished the same. In the case of a covenant, the Board shall issue a written release of the covenant suitable for recording. However, 10% of the value of the bond shall be held by the Town for one year after completion of construction or until the streets are accepted by the Town, whichever comes first.
(3) Prior to releasing the Town's interest in a performance bond or deposit or covenant, the Board shall receive from the applicant written statements of approval from the Highway Superintendent and the Board of Health or 15 days shall elapse after the applicant's request for said approval without action from such.
(4) If the Planning Board determines that said construction or installation has not been completed, it shall specify to the applicant in writing the details wherein said construction and installation fail to comply with these rules and regulations. Upon failure to so specify within 45 days after the Town Clerk has received the applicant's statement of completion, all obligations under the bond shall cease and terminate by operation of law, any deposit shall be returned and any such covenant shall become void. In the event that said forty-five-day period expires without such specification, or without the release and return of the bond or release of the covenant as aforesaid, the Town Clerk shall issue a certificate to such effect, duly acknowledged, which may be recorded.
(5) The Board may release from such covenants only those lots for which installation of ways and services has been completed in accordance with these rules and regulations. Refer to Appendix for the proper form to be submitted for release of a lot from a covenant.