The Director shall grant an exemption from the provisions of this subchapter if he finds all of the following facts present:
(A) All adjacent properties are served by overhead utility facilities;
(B) The compliance with the provisions of this section constitute an undue financial hardship which renders the proposed development economically unfeasible; and
(C) The owner of the property involved agrees, in written form as approved by the City Attorney, to join and participate in an undergrounding utility district should one be initiated pursuant to applicable law, within ten years after the date upon which a building permit for such buildings or structures is issued, without protest as to the formation of such district. The agreement shall be recorded and shall bind, for the period of time, all assignees and successors in interest to the then owner of the property.
('83 Code, § 12.36.030) (Ord. 820, passed - -81; Am. Ord. 837, passed - -82)