Construction of all improvements required under this section shall be completed within two years from the date of approval of the commencement of the work, as specified in this section, unless good cause can be shown for the granting of an extension of time, which extension shall be made by Common Council. If the developer exceeds the 24 month period without the approval of the Plan Commission, the project shall be considered in default and the bonding company shall be notified accordingly. The City Attorney shall begin measures to foreclose on the performance bond.
(Ord. - -, passed - -) Penalty, see § 153.999