(a) All improvements required herein shall be constructed prior to the granting of the final plat approval by Council; or the subdivider shall furnish the City with a surety or certified check for the amount of the estimated construction cost for the ultimate installation and initial maintenance of the improvements.
(b) The subdivider may deposit in a bank or savings and loan association in Belmont County, Ohio, the sum not less than the total estimated improvement cost, to be held in escrow to guarantee the satisfactory completion of such improvements within the required time, the form of such escrow to be subject to the approval of the City Law Director and which agreement may provide for the making of payments from such funds from time to time upon certificates of the engineer that the balance remaining after such payments will, in his opinion, be adequate to pay the remaining costs of the improvements.
(c) The subdivider may deposit with the City a certified check, in the amount of the total estimated improvement costs, to be held in escrow until the satisfactory completion of construction, unless there is a default in the completion of such improvements, in which event the check may be cashed by the proper official, and the proceeds thereof used to complete the improvements, to pay claims connected therewith for which the subdivider may be liable, or to cure any other default of the subdivider connected with the making of the improvements.
(Ord. 85-11. Passed 4-1-85.)