(A) Surety bond required. A surety bond payable to the city, as required by § 154.22 of this chapter, shall be conditioned upon the construction of the improvements in full conformity with the engineering plans and specifications 12 months from the date thereof. The Plat Committee, for good cause shown, may extend the time of performance for not more than 24 months.
(B) Form. The surety bond shall provide, among other things, that the owner of the land shall be one of the principals under said bond and that the surety shall be responsible for the completion of the work within reasonable time after being notified that default has been made.
(C) Release. Any surety bond so given to guarantee the construction of any such improvement may be released by the City Clerk only after receiving a written statement from the City Road Commissioner that the improvement has been constructed and that the certificates, as required in these regulations have been submitted by a registered professional engineer.
(D) Certificate of completion. Upon the completion of the street and alley improvements, one copy of the plans and profiles, cross-sections and special provisions shall be filed with the City Road Commissioner accompanied by a registered professional engineers certificate which states that the improvements have been constructed in accordance with the plans and specifications as set forth herein.
(Ord. passed - -)