(A) The subdivider shall indicate on the plat, as hereinafter provided. If such improvements are
not installed as required at the time the final plat is submitted for approval, the subdivider shall, prior to receiving final plat approval from the Planning Commission, enter into a contract with the city agreeing to install the required improvements. The subdivider shall file with said contract a performance bond meeting the approval of the City Attorney and/or a certified check in the amount equal to the estimate of cost and approval by an appointed City Engineer. Such bond or check shall constitute a guarantee that such improvement will be completed by the subdivider or his contractor not later than one year from the date of recording of the plat, and that repairs necessitated by defects in material or workmanship will be made during the period not to exceed one year from and after completion of such improvements.
(B) If the improvements are not completed or repairs are not made within the specified time periods, the City Council may use all or any portion of the check or bond to complete or repair the same. However, the City Council may, upon proof of difficulty, extend the bonding time.
(C) If the subdivider installs the improvements without the posting of a performance bond he shall also file a maintenance guaranteeing for a period not to exceed two years the repairs necessary by defects in material or workmanship of the improvements installed in the subdivision.
(Ord. 172, passed 6-8-87)