The subdivider's cash bond shall not be released until fulfillment of the following conditions:
(A) All required land improvements shall be installed within a period of two years after the recording of the final plat. Failure of the subdivider to complete all of the improvements within this two-year period shall result in forfeiture of the cash bond unless an extension of time is requested by the subdivider and granted by the Village Engineer. In the event of failure to complete the improvements in the required period, as stated herein, the Village Engineer may direct that no further building permits be issued for property in such subdivision pending satisfaction of the Village Engineer in regard to the status of the required land improvement.
(B) An affidavit to the effect that all materials, labor and other costs have been paid so as to hold the village free from any obligation for payment of any costs of the land improvements. That the subdivider accepts responsibility for the maintenance and repair of all improvements for one year after the date of the acceptance by ordinance of Village Council of all land improvements.
(C) Final acceptance of all land improvements by ordinance of Village Council, upon recommendation of the Village Engineer.
(Ord. 57-1981, passed 10-21-81; Am. Ord. 2018-80, passed 11-20-18)