Prior to the issuance of a permit, the applicant shall file with the Borough Clerk a performance guaranty in form and amount as specified by the Borough Council in conformance with the recommendations of the Construction Official and the Borough Engineer. The guaranty shall be discharged after completion and approval of all work specified in the plan and may be discharged, in part, based on partial completion and approval, at the discretion of the Borough Council on recommendation of the Construction Official and Borough Engineer.
All necessary soil erosion and sediment control measures installed under this chapter shall be adequately maintained for two years after final approval of such measures or until such measures are permanently stabilized as determined by the Construction Official.
The Borough Council may require a maintenance guaranty for a period not to exceed two years after final approval of the soil erosion and sediment control measures in an amount not to exceed 15% of the cost of the improvement or permanent installation.