Town of Shawangunk v. Goldwil Properties Corp.

*694OPINION OF THE COURT

Kane, J. P.

In May of 1973, the Planning Board of the Town of Shawangunk approved a subdivision for development in accordance with a plan entitled "Map of Mohonk View”. Among other items, the plan called for certain site improvements including a sewage and water system, streets and sidewalks. One of the conditions for approval was a requirement that the developers, Goldwil Properties Corp., and the individual defendants, supply a performance bond guaranteeing that the named improvements would be installed (Town Law, § 277, subd 1). Such a bond in the face amount of $242,500…