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August 12, 2026 (4) The security shall provide that it may not be cancelled, terminated, allowed to expire, materially modified, or reduced without at least 90 days’ prior written notice to the Town Clerk, Town Attorney, Code Enforcement Officer, and Town Board. If the security is drawn upon, reduced, cancelled, terminated, set to expire, or deemed insufficient by the Town Board, the applicant, owner, operator, lessee, successor, or assign shall replenish, replace, or increase the security within 15 days after written demand by the Town, unless a shorter period is required by the Town Board to protect the Town. (5) Decommissioning and site restoration security. The applicant, owner, operator, lessee, successor, or assign shall provide decommissioning and site restoration security to secure the full and complete removal of the Tier 3 or Tier 4 Solar Energy System and restoration of the site in accordance with this chapter, the approved decommissioning plan, and all conditions of approval. (a) The decommissioning and site restoration security shall be in an amount equal to 150% of the full estimated cost of decommissioning, removal, disposal, site restoration, and repair of any damage to public or private property, as determined by the Town’s professional engineer, consultant, or other qualified professional retained by or acceptable to the Town. (b) The decommissioning cost estimate shall include, without limitation, the cost of remov ing all above-ground and below-ground improvements and equipment, including solar panels, racking, posts, piles, foundations, inverters, transformers, substations, fencing, gates, access roads, cabling, electrical components, collection lines, concrete pads, stormwater facilities, equipment pads, buildings, signage, and all other project-related improvements. The estimate shall also include the cost of disposal, recycling, transportation, grading, decompaction, topsoil restoration, seeding, stabilization, drainage restoration, agricultural restoration, repair of public roads, and all engineering, legal, administrative, and consultant costs reasonably anticipated to be incurred by the Town in connection with decommissioning and site restoration. (c) No salvage value, resale value, recycling value, or other offset shall be deducted from the required amount of decommissioning security. The applicant may identify anticipated salvage value for informational purposes only, but such value shall not reduce the amount of required security. The decommissioning and site restoration security shall include an annual escalator of not less than 3% per year for the operable life of the Solar Energy System, unless a higher amount is required by the Town Board based upon the recommendation of the Town Engineer, Town Attorney, or other Town consultant. (d) The applicant, owner, operator, lessee, successor, or assign shall remain fully responsible for all decommissioning, removal, disposal, reclamation, site restoration, enforcement, le gal, engineering, administrative, consultant, and related costs, including any such costs that exceed the amount of the security. All expenses and costs of establishing, maintaining, renewing, replacing, increasing, modifying, enforcing, drawing upon, or reviewing the security shall be borne solely by the applicant, owner, operator, lessee, successor, or assign. (e) In the event of default, abandonment, inoperability, revocation, failure to decommission, failure to restore the site, failure to maintain required security, or failure to comply with the approved decommissioning plan or any condition of approval, after notice and expiration of any applicable cure period specified by the Town, the Town may draw upon, make demand against, or otherwise enforce the decommissioning and site restoration security. The Town may use the proceeds of such security to pay for investigation, inspection, engineering, legal review, consultant review, administration, enforcement, decommissioning, removal, disposal, recycling, site restoration, public infrastructure repair, agricultural restoration, and all related costs. (f) In the event of default, abandonment, inoperability, revocation, failure to decommission, failure to restore the site, failure to maintain required security, or failure to comply with the approved decommissioning plan or any condition of approval, after notice and expiration of any applicable cure period specified by the Town, the Town may draw upon, make demand against, or otherwise enforce the decommissioning and site restoration security. The Town may use the proceeds of such security to pay for investigation, inspection, engineering, legal review, consultant review, administration, enforcement, decommissioning, removal, disposal, recycling, site restoration, public infrastructure repair, agricultural restoration, and all related costs. 19