The required improvements shall be completed within two years of approval of the final plat by the Board of Supervisors. However, the Board of Supervisors may at any time prior to the specified completion date and upon satisfactory proof of hardship or other compelling reason, grant an extension to the required completion date for an additional period of two years. Approval of such an extension shall be by Resolution of the Board of Supervisors in accordance with the following:
1. The subdivider shall submit revised cost estimates for all uncompleted improvements. The revised estimates shall be approved by the County Engineer.
2. Financial security shall be posted with the Board of Supervisors. The amount of the financial security shall be 130 percent of the revised estimated cost of the uncompleted improvements.
3. Extensions will be granted only with respect to those areas where it can be done without all unreasonably adverse effect on persons who purchased property in the subdivision in reliance on the timely completion of the improvements. All owners of record of lots within the subdivision shall be notified in writing of the date and time of the Board of Supervisors' consideration of the request for extension, and shall be given reasonable time for response.