§ 200-82.1. Successor developer guarantee.

A. 

If the property that is the subject of the approval and/or permit is sold or otherwise conveyed to a successor developer prior to the completion and acceptance of all improvements, an assignment of developer's agreement and replacement guarantee(s) as required by this chapter shall be required from the successor developer. As a condition precedent to the release of a permit update under the State Uniform Construction Code, for the purpose of updating the name and address of the owner of property on a construction permit, and all other changes to information previously submitted to the Township Division of Code Enforcement, an assignment of developer's agreement and replacement guarantee(s) and associated agreement as required by this chapter, shall be required from the successor developer and accepted by Township Council.

B. 

Within 30 days of its acceptance of an assignment of developer's agreement and replacement guarantee(s) and associated agreement as required by this chapter, the Township Council, by resolution, shall release the predecessor developer from liability pursuant to its guarantee.

Added 10-29-2018 by Ord. No. 2018-26