§ 18.2. Performance guarantee.

To ensure compliance with this ordinance and any conditions of project approval, the township may require that a cash deposit, certified check, irrevocable letter of credit, or surety bond covering the estimated cost of improvements be deposited with the township clerk to insure completion of the improvements. The performance guarantee shall be deposited at the time of the issuance of the permit authorizing the activity or project. The township may not require the deposit of the performance guarantee until it is prepared to issue the permit. The township shall rebate cash deposits in reasonable proportion to the ratio of work completed on the required improvements based on the policy of the community development department.