§ 154-114. Maintenance guaranty.

A. 

The municipality may also require maintenance guaranty for a period not to exceed two years after final acceptance of the improvement in an amount not to exceed 10% of the cost of the improvement or of the original installation.

B. 

The reviewing authority shall require that the applicant execute such agreements and covenants as may be necessary in order to assure the Township that the premises shall be used in accordance with the approved plan for the PARC, said agreements or covenants to be in recordable form and to constitute covenants running with the land. Said agreements or covenants shall be recorded prior to the issuance of any building permit for the PARC and may only be modified or released as set forth therein or by ordinance of the Township of Mount Laurel or as required by any other governmental agency having jurisdiction there-over.