(A) In the event the developer shall, in any case, fail to complete such work within the period of time as required by the conditions of the guarantee for the completion of public improvements, the Commission may use any proceeds of the surety bond or other financial guarantee posted by the developer for the completion of said public improvements. In order to accomplish this, the Commission shall reimburse itself for the cost and expense thereof by appropriating the cash deposit, certified check, irrevocable bank letter of credit, or cashier’s check which the developer may have deposited in lieu of a surety bond, or may take such steps as may be necessary to require performance by the bonding or surety company, and as included in a written agreement between the Commission and the developer.
(B) In the event the developer fails to construct said improvements as required, and the Commission finds it necessary to use the financial guarantee funds for completion of said improvement, the same shall not relieve the developer, his or her agents, officers, or employees from liability for completion of the same or for restitution to the Commission and county for costs of construction of said improvements.
(Ord. 95-3, passed 9-25-1995)