A right-of-way permit shall be obtained for construction within a recorded right-of-way. A right-of-way or a building permit shall be issued only if the requirements of this Code have been complied with and the proposed improvements are covered by a surety bond or approved letter of credit. A surety bond written by a surety company authorized to do business in the State or an approved letter of credit in an amount equal to one hundred twenty five percent (125%) of the estimated cost of the improvements not previously installed shall be filed with the City Clerk. The improvements so covered shall be constructed within two (2) years from the date of recording of the final plat; provided, the Council may extend the period one year upon showing of just cause by the subdivider. The owner and/or subdivider shall guarantee all improvements within the public right-of-way for a one year period following the date of final inspection and acceptance by the City. Any defects, repairs or maintenance during the one year guarantee period due to faulty workmanship or materials shall be corrected at the expense of the owner and/or subdivider. (Ord. 311 § 1, 1999)