Final approval of street improvements shall be granted and streets accepted for maintenance
by the city, only in accordance with one of the following provisions:
(1.1) Said street improvements shall have been completed and in place for a period
of one (1) year and shall, upon inspection, following such period of time, be found
to be free from defective workmanship or material and free from sink-holes or other
settling.
(1.2) Following otherwise satisfactory completion of such work, the subdivider shall
post with the city a guaranty bond in an amount equal to ten (10) per cent of the
street and utility improvement cost for the street for which acceptance is sought.
Said bond will guarantee the city that said street has been installed in a workmanlike
manner, that same is free from defects caused by faulty material or workmanship, and
that said street will remain in acceptable condition for a period of at least one
(1) year. Said guaranty bond shall be effective for a period of one (1) year. If at
the end of the one (1) year period the street is found to have settled or be otherwise
unacceptable because of faulty workmanship or material, said defective street shall
be repaired at the cost of the subdivider up to the amount of the guaranty bond, and
upon his failure or refusal to do so within ninety (90) days after demand is made
upon him by the governing body, then the city shall make such repairs as are reasonably
necessary, and recover the cost thereof.
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