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ORDINANCE NO. 2009-002 <br />At the end of the three year guarantee period, the public works director may <br />release theop sted security under the terms of the warranty and maintenance <br />agreement which shall require certified inspection reports under seal from the <br />developer's engineer and a determination from the county engineer that required road, <br />drainage, and sidewalk improvements meet applicable county performance standards. <br />(C) The developer (owners) and the county may agree to defer <br />execution of a warranty and maintenance agreement and <br />posting maintenance security at the time of issuance of a <br />certificate of completion if the following criteria are met: <br />1 The road and drainage improvements that are the subject of <br />the deferral are not needed to serve existing project residents. <br />2. The developer (owners) defines the "deferral area" and agrees <br />to not sell any lots/units or obtain any building permit for <br />construction within the deferral area until a warranty and <br />maintenance agreement is executed and maintenance security <br />is posted for road and drainage improvements within the <br />deferral area. <br />3a The agreement is in a form acceptable to the county attorneys <br />office, and is structured as a covenant that cannot be <br />terminated or modified without county approval. <br />4 The agreement/covenant is recorded in the public records. <br />(3) Failure to perform. In the event a developer and/or its contractor fails to <br />perform the obligations for construction or maintenance required under the above <br />referenced agreements, the board may call upon the surety provided, or any portion <br />thereof, to be used for completion of the necessary remaining work. If the surety is <br />exhausted prior to completion of the work necessary to complete the required <br />improvements, the developer shall remain liable to the county for any resulting <br />deficiency. The county is not responsible to complete any subdivision with county funds. <br />(4) Release or reduction of security. <br />(A) No construction security shall be released until a certificate of completion <br />has been approved by the public works director, or his designee and <br />security for maintenance has been established as required above. <br />(B) Reduction in the amount of surety required, other than a final draw or <br />reduction, may be authorized by the public works director after completion <br />Coding: Words/letters underscored in bold are additions to text; words/letters in <br />+rikethre gh format are deletions to text. <br />VA <br />