(a) Timing and Purpose. Each subdivider shall, prior to final plat approval by the City Council (in accordance with the Codified Ordinances of the City), enter into a Subdivider's Agreement with the City in order to provide the City with assurances that all required improvements will be completed in accordance with these Subdivision Regulations.
(b) Form and Contents. The Subdivider's Agreement shall be prepared by the City Law Director in accordance with the City's legal requirements and shall include the liability insurance, guarantee and inspection fee requirements for the subdivision.
(1) The liability insurance shall be comprehensive general liability in the amount of not less than $1,000,000 and shall indemnify and save harmless the City from any and all liability arising from or related to the construction of any of the improvements in the subdivision. The liability insurance shall not be allowed to expire prior to the release of the maintenance performance guarantee discussed under Section 1187.02(b).
(2) The guarantee requirements include a construction performance guarantee and a maintenance performance guarantee which are discussed in further detail under Section 1187.02
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(3) The inspection fee requirements shall indicate that the subdivider agrees to pay the difference, if any, between the actual cost of inspection fees and the amount deposited for inspection fees by the subdivider as discussed in further detail under Section 1189.02(b).
(c) Certified Construction Cost Estimates. The subdivider shall furnish, prior to the execution of the Subdivider's Agreement, a certified construction cost estimate for the proposed improvements. This estimate shall be certified by a professional engineer registered in the State of Ohio and shall be based upon prevailing construction cost in the area. This estimate shall be subject to the approval of the Service Director.
(Ord. 0-37-95. Passed 5-15-95.)