(A) (1) The applicant shall guarantee the improvements against defects in workmanship and materials for a period of five years from the date of acceptance of such improvements. In exceptional situations, where undue hardship would otherwise result and the shorter term would be consistent with the purposes of the UDC, the Code Enforcement Officer may recommend and the Planning Commission may approve a shorter-term maintenance guarantee.
(2) The maintenance guarantee shall be secured by a surety bond or cash escrow in an amount reflecting 50% of the cost of the completed improvements.
(B) If the applicant has entered into a subdivision improvement agreement for the completion of required improvements, an appropriate percentage of the performance bond or cash escrow may be retained by the city in lieu of a maintenance bond.
(C) If the applicant has not entered into a subdivision improvement agreement, the applicant shall guarantee the improvements as required by this section. A surety bond or cash escrow totaling 50% of the costs of the completed improvements shall be provided by the applicant.
(Ord. 3020, passed 9-10-2013, § 4.36.8)