A. Guarantees
1. Required agreements
To provide the City with assurance that the construction of all required public improvements will be constructed, the subdivider shall enter into one of the following agreements:
a. To construct all improvements directly affecting the subdivision, as required by the Planning Commission, prior to the final approval of the development; or
b. In lieu of the completion of the improvements, to furnish a bond executed by a surety company, a cash deposit by certified check in a non-interest bearing account or an irrevocable letter of credit, in a form approved by the Municipal Attorney, from a bank or lending institution licensed to do business in the State, equal to the cost of construction of such improvements as shown on plans, such cost being based on an estimate provided by the developer and approved by the City Engineer.
2. Execution of subdivider's agreement and performance bond, certified check or letter of credit prior to final plat approval. Before the final plan is given final approval, the developer shall have executed a subdivider's contract and a performance bond, certified check or irrevocable letter of credit with the Council covering the estimated cost of required improvements. The performance bond, cash deposit or irrevocable letter of credit shall run to the City until all improvements are complete, for a period of not more than two years from the date of execution and shall provide that the subdivider, his or her heirs, successors and assigns and their agents or servants, will comply with all applicable terms, conditions, provisions and requirements of these Subdivision Regulations and will faithfully perform and complete the work of constructing and installing such facilities or improvements in accordance with such laws and regulations.
3. Extensions of time. If the construction or installation of any improvement or facility, for which guarantee has been made by the developer in the form of bond, cash deposit or irrevocable letter of credit, is not completed within the time stipulated, but not more than two years from the date of final approval of the record plat, the developer may request the Council to grant an extension of up to six months, provided that he or she can show reasonable cause for inability to complete said improvements within the time stipulated in the subdivider's agreement. The Council may grant additional extensions, upon application by the developer and a showing of good cause, provided that each said extension does not exceed six months. At the expiration of all extensions, the City will use as much of the bond, cash deposit or irrevocable letter of credit as is necessary to complete the construction of the improvements. The same shall apply whenever construction of improvements is performed in accordance with applicable standards and specifications.
4. Completion of work; reduction of bond, cash deposit or irrevocable letter of credit. As required improvements are completed, approved and accepted, the Council may, with the concurrence of the City Engineer, reduce the amount of the performance bond, cash deposit or irrevocable letter of credit.
5. Maintenance Bond that guarantees work for one year shall be posted at the completion of work and prior to release of any other performance bond or guarantee. The required maintenance bond shall be 10% of the value of all performance bonds.
B. Inspections
It shall be the responsibility of a subdivider to notify the City Engineer's office at least twenty-four hours in advance of the time that all is in readiness for the following periodic inspections which must be made:
1. After all storm sewers, drains and appurtenances are installed and before trenches for the same are backfilled.
2. After the forms for curbs and gutters are set (where combined curbs and gutters are required), the gravel base is in place and before any concrete is placed.
3. After the forms for drive approaches or sidewalks are set and the gravel base is in place and before any concrete is placed.
4. After the subgrade is shaped and rolled and before a compaction test is made.
5. After forms are in place and immediately before any pavement or channel concrete is placed.
6. Immediately before any soil stabilization additives, lime, fly ash or aggregates are placed in base courses.
7. Immediately before any prime is applied.
8. Immediately before any asphaltic concrete is laid.
9. After the surveyor certifies that section monuments are in place.
10. No work shall be accepted or bonds released unless these inspections have been made and the work is found to be satisfactory.
