In all cases where a performance guarantee or other financial guarantee is required by this UDO, such guarantee shall be placed with the City and shall be returned to the applicant only after all work to be performed is completed by the applicant.
(a) All fees, bond forfeitures and all fines shall be deposited in the General Fund and the Director of Finance is hereby authorized to accept and deposit such funds and to draw warrants upon such fund in payment of such costs incurred.
(b) In the event of failure to complete and maintain the improvements in the required period, as stated herein, the Planning Director may direct that no Development Permits be issued for such property pending satisfaction of the Planning Director in regard to the status of the required land improvements.
(c) Request for release of a Performance Guarantee may be considered only after the developer shall supply an affidavit to the effect that all materials, labor and other costs have been paid so as to hold the City free from any obligation for payment of any costs of the land improvements; and that a subdivider accepts continuing responsibility for the maintenance and repair of all land improvements for any maintenance period required herein.