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ORDINANCE NO. 2009-002 period of +wee (3) years one (1) year from the date of issuance of the certificate of completion. The three yea one-year maintenance period commences at the time the certificate of completion is issued and not when the final lift of asphalt is applied in the event a final lift of asphalt is secured by either an irrevocable letter of credit or cash escrow rather than installed. (B) The warranty and maintenance agreement shall be on a form provided by the county attorney's office and shall be secured by an amount equal to twenty- five (25) percent of the total actual cost of the improvements covered. Three (3) months prior to the end of the maintenance period, the proiect engineer shall accompany the public works department on an inspection of the required proiect road and drainage improvements. Based on the inspection, the public works department shall determine if the required road and drainage improvements are properly functioning and in good repair or if deficiencies exist that require correction. If deficiencies are found and are not corrected by the end of the guarantee period, the Board of County Commissioners may call upon the maintenance security as provided below in subsection 913.10(3). The -Maintenance security shall be either: 1. Cash and a cash deposit and escrow agreement governing control and use thereof; or 2. An irrevocable letter of credit issued by a financial institution authorized to conduct business within the state; or 3. A maintenance bond underwritten by a security insurer with an A.M. Best's rating of A -VI or greater and authorized to transact such business in this state. The posted security shall expire, if at all, no earlier than ninety (90) days following the end of the three year guarantee period. Security for required road and drainage improvements shall run to the benefit of Indian River County. Upon reGeipt Of a request te release maiRtenanGe seGUFity te a developer, w 'thon appreximately thirty (30 te sixty (60) days +er Prior to a the county maintenance inspection of required road and drainage improvements,. scheduled at the -end -of the maintenanro the county shall notify subdivision residents of the west and inspection. Notice may be provided by sign posting, mail, flyers, or advertisement. Coding: Words/letters underscored in bold are additions to text; words/letters in +rikethro gh format are deletions to text. A