A. Performance Security.
1. Prior to the commencement of a timber harvesting operation, financial security in the amount of seven hundred dollars ($700) per acre (to a maximum of $7,000 per cutting block) shall be posted with the Township by the applicant/permittee in order to guarantee restoration of the property. Such financial security shall be in accordance with Township ordinances and in form acceptable to the Township Solicitor.
2. Such financial security shall be posted with a bonding company or Federal or Commonwealth chartered lending institution chosen by the party posting the financial security, provided that said bonding company or lending institution is authorized to conduct such business within the Commonwealth.
3. This financial security will not be released by the Township until a post harvest report indicates that land restoration has been completed to the satisfaction of the Township.
B. Road Maintenance Security.
1. Prior to hauling on any Township road, the applicant for the timber harvesting permit shall post separate financial security to guarantee restoration of any roads damaged by the hauling. This financial security, including the amount, type and form shall also comply with the requirements of Chapter 168 of the Marshall Township Code of Ordinances.
