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(a) To ensure construction and installation of the subdivision improvements required, the developer shall execute a construction agreement containing those terms and provisions set forth in the construction agreement in substantially the same form as incorporated herein as Appendix V of these Subdivision Regulations. No construction agreement shall be executed by or on behalf of the City without first being reviewed by the City Engineer, Law Director and Mayor.
(b) No construction of any improvements or clearing, grubbing or grading shall be commenced prior to the execution, by the developer, the bank and the City of the construction agreement referred to in subsection (a) hereof. All subdivision improvements as specified in such construction agreement shall be completed and installed within twenty-four months from the date of execution of the construction agreement or at such other time as may be specified in the construction agreement.
(Ord. 1970-232. Passed 9-15-71; Ord. 98-114. Passed 9-1-98; Ord. 04-131. Passed 6-1-04.)