The developer's agreement shall be approved by the president and board of trustees as to amount, surety and other conditions. The planning commission may upon proof of difficulty, recommend to the president and board of trustees an extension of the completion date set forth in the developer's agreement for a maximum period of one additional year. The village president and board of trustees may at any time during the period of the developer's agreement accept a substitution of principal or sureties called for in the developer's agreement. (Ord. 2004-O-14 § 1)