FORM H PERFORMANCE SECURED BY A SURETY COMPANY., 20 Dunstable, Massachusetts
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1 FORM H PERFORMANCE SECURED BY A SURETY COMPANY, 20 Dunstable, Massachusetts AGREEMENT made this date between the Town of Dunstable and hereinafter referred to as the applicant of ; a corporation duly organized and existing under the laws of the state of and having a usual place of business at, hereinafter referred to as the surety, to secure construction of ways and installation of municipal services in the subdivision of land shown on a plan entitled: by:, dated: owned by:, address, land located:, and showing proposed lots. KNOW ALL MEN by these presents that the applicant and the surety hereby bind and obligate themselves, their, or its executors, administrators, devisees, heirs, successors and assigns, jointly and severally to the Town of Dunstable, a Massachusetts municipal corporation, acting through its Planning Board, in the sum of dollars, and have secured this obligation by depositing with the Treasurer of said Town of Dunstable a surety bond to secure the above sum of money, said surety bond to be used to insure the performance by the applicant of all covenants, conditions, agreements, terms and provisions contained in the following: 1. Application for Approval Definitive Plan (Form C), dated 2. The subdivision control law and the Planning Board s Rules and Regulations governing this subdivision and dated 3. Conditions included in the Certificate of Approval issued by the Planning Board and dated 4. The definitive plan as qualified by the Certificate of Approval; and 5. Other documents(s) specifying construction or installation to be completed, namely: (specify other documents, if any, and list lots secured if only a part of the subdivision is secured by a surely company) This agreement shall remain in full force and effect until the applicants fully and satisfactorily performed all obligations, or has elected to provide another method of securing performance as provided in M.G.L., Chapter 41, Section 81-U. 1 of 3
2 Form H continued Subdivision Date Upon completion by the applicant of all obligations as specified herein, on or before, or such later date as may be specified by vote of the Planning Board with a written concurrence of the applicant and the surety. The interest of town in such surety bond shall be released, the surety bond shall be returned to the surety, and this agreement shall become void. In the event the applicant should fail to complete the construction of ways and installation of municipal services as specified in this agreement and within the time herein specified, the surety bond may be enforced, in whole, or in part, by the Planning Board for the benefit of the Town of Dunstable to the extent of the reasonable cost to the city/town of completing such construction or installation as specified in this agreement. Any unused portion of the surety bond will be released and the unused portion of the surety bond will be returned to the surety upon completion of the work by said town; and The Town of Dunstable acting by and through its Planning Board hereby agrees to accept the aforesaid surety bond in the amount specified in this agreement as security for the performance of the project as aforesaid. Any amendments to this agreement and/or to the aforesaid security shall be agreed upon in writing by all parties to this agreement. IN WITNESS WHEREOF we have hereunto set our hands and seals this of, 20. Signatures of a Majority of the Planning Board of the Town of Dunstable Signature of Applicant Signature of Authorized Representative of the Surety 2 of 3
3 Form H continued Subdivision Date COMMONWEALTH OF MASSACHUSETTS,ss, 20 Then personally appeared one of the above-named members of the Planning Board of, Massachusetts, the applicant, and the authorized representative of the surety, and acknowledge the foregoing instrument to be the free act and deed of said parties before me. My commission expires Duplicate copy to: Applicant Surety Planning Board Town Clerk Town Treasurer Board of Selectmen Notary Public
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