for death, bodily injury and property damage arising out of or in connection with the use, ownership, or maintenance of common areas, including the BMP and the premiums of hazard insurance on the common area(s) insuring against all risk of loss commonly insured against, including fire and extended coverage of peril. ► Taxes ► Mowing and reseeding. ► Required inspections. This should include an annual inspection performed by a qualified registered North Carolina professional engineer, surveyor, or landscape architect and a fee for an inspection service to perform the periodic inspections listed in the operations manual if the landowner is not using his own employees to monitor BMPs. ► etc. • A sinking fund budget for structural; biological; or vegetative replacement of the BMP, major repair and replacement repair of the BMP and other cost of the stormwater control facilities. Assume 25 years for a life span.

### Special Requirements for Homeowners' and Other Associations

If the stormwater agreement includes a stormwater BMP structure to be maintained by an association, Exhibit A and Exhibit B shall also be attached to the property association declaration as an exhibit. For all structural BMPs required pursuant to this ordinance and that are to be or are owned and maintained by a homeowners' association, property owners' association, or similar entity, ("Association") the required operation and maintenance agreement shall include establishment of an escrow account, which can be spent solely for sediment removal, structural, biological, or vegetative replacement, major repair, or reconstruction of the structural BMPs. Both developer contribution and annual sinking funds shall fund the escrow account. Prior to plat recordation or issuance of construction permits, whichever shall first occur, the developer shall pay into the escrow account an amount equal to fifteen (15) per cent of the initial construction cost of the structural BMPs. Two-thirds (2/3) of the total amount of sinking fund budget shall be deposited into the escrow account within the first five (5) years and the full amount shall be deposited within ten (10) years following initial construction of the structural BMPs. Funds shall be deposited each year into the escrow account. A portion of the annual assessments of the association shall include an allocation into the escrow account. Any funds drawn down from the escrow account shall be replaced in accordance with the schedule of anticipated work used to create the sinking fund budget. Additional statements required by Article 9; section 9.4.2.B of the Town of Landis Unified Development Ordinance will be included in the draft agreement provided by the Town.

## Performance Security for Installation and Maintenance

The Town of Landis may, at its discretion, require the submittal of a maintenance performance security or bond with surety, cash escrow, letter of credit or other acceptable legal arrangement prior to issuance of a permit to ensure that the structural BMPs are: (1) installed by the permit holder as required by the approved stormwater management plan, and/or

Town of Landis

Guidelines for Stormwater Agreement Attachments 07/01/2022