The developer shall guarantee the construction and materials of the street improvements for a twelve (12) month period after acceptance by the City, and in order to secure the guarantee, he shall deposit with the City an amount equal to two percent (2) of the total cost of the construction of street improvements in a maintenance fund, or he may provide in lieu thereof, a maintenance surety bond in like amount and in accordance with the provisions of Section 1111.13(a).
(Ord. 58-73. Passed 7-23-73).