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(A) Performance bonds.
(1) After approval of the final plat by the Planning Commission, the developer may secure from the proper authorities the necessary permits to proceed with the construction and begin work on the improvements. Work must commence within six (6) months of approval, unless otherwise extended by the Planning Commission.
(a) Before commencing construction of any improvement, the developer shall post a performance bond. This performance bond shall be sufficient to cover the full cost of all improvements shown on the approved construction drawings. This bond amount shall be set by the Development Director based on the construction plans and cost estimates and shall insure the satisfactory performance of all improvements during a fixed time set by the City and in accordance with other of its requirements. Once the bond has been posted, the final plat may be signed and recorded.
(b) The performance bond shall be reviewed and approved by the Director of Law.
(2) After all construction work is completed, it shall be inspected by the city to insure that the work has been correctly performed. Any deficiencies shall be recorded and a list forwarded to the developer for correction. Once the deficiencies have been corrected and checked by the city, a maintenance bond shall be posted and the performance bond released.
(B) Maintenance bonds.
(1) After all construction is completed and approved by the Public Works Director, the developer must maintain and keep in good repair all improvements for a period of one year.
(2) The developer shall post with the city a maintenance bond to secure the required maintenance of the improvements.
(3) The Development Director and the Public Works Director are authorized to permit the subdivider, or his successors and assigns, to transfer from the performance bond period to the maintenance bond period, upon certification by the Public Works Director that the subdivision has been completed in accordance with all of the conditions of the performance bond, and applicable State statutes. In no case shall a subdivision be accepted for maintenance without all improvements as shown on the construction drawings.
(4) In determining the amount of the maintenance bond to be required by the Development Director, such amount shall be not less than ten percent (10%) of the performance bond. The bond shall be reviewed and approved by the Director of Law.
(5) At the termination of the one-year maintenance period, the subdivision shall, again, be inspected by the city and all necessary corrections recorded and forwarded to the developer. It shall be the responsibility of the developer to request such inspection. Unless and until the developer requests the inspection in writing, the maintenance period shall not expire and the developer shall be responsible for all defects found upon inspection of the subdivision whether or not the one-year period has expired. Once these corrections are completed, a request shall be submitted to Council for the acceptance of the subdivision. Any outside inspections or testing which is required by the Public Works Director to assure the city that the proposed improvements have been constructed and maintained to the standards for acceptance shall be at developer's cost.
(C) Sidewalk bond.
(1) In the event that sidewalks are not completed at the time that the subdivision should be put on the maintenance bond, then the uncompleted sidewalks are to be placed on separate performance bonds, the amount of which is to be determined by the City Engineer. In such event, after the complete installation of sidewalks, there shall be established a sidewalk maintenance bond, which shall not be less than ten percent (10%) of the sidewalk performance bond, such bond to be for a period of one year from the date of the complete installation of sidewalks.
(2) It shall be the responsibility of the City's Engineer to delineate and determine the location of all such sidewalks not installed, for the future purpose of releasing the sidewalk performance bond. All such delineation is to be done on a copy of the subdivision plat or map, and such is to be maintained in the office of the Public Works Director for future reference.