Following approval of the final plat by the Village Council, the subdivider shall comply with one of the following sections.
(a) Install all improvements required in the final plat, in strict compliance with all drawings and/or specifications.
(b) Furnish a performance bond in an amount of 100% of the estimated cost of the proposed improvements to ensure to the Village Council that all work will be completed as shown.
(c) In lieu of a performance bond, a cash escrow account may be used. The amount of the cash escrow shall be as determined by the Village Council.
(d) In lieu of a performance bond, an “irrevocable” letter of credit may be used.
(Ord. 03-05. Passed 6-2-03.)