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ORDINANCE NO. 2005-032 (B) The contract shall be on a form provided by the county and shall obligate the developer to complete all "bondable" required improvements in accordance with the land development permit, the approved plans and specifications, and county development regulations and standards, within a period of one (1) year from the date of final plat approval. Sidewalks may be bonded -out for multiple years in accordance with subdivision ordinance section 913.09(5). (C) The estimated total cost of improvements remaining to be constructed shall include survey, engineering and construction costs and shall be approved by the public works director after review of an itemized cost estimate prepared and certified by the developer's engineer, or an actual contract price or portion thereof for the work remaining, if available. (D) The security posted to guarantee performance of the contract shall expire, if at all, no less than ninety (90) days beyond the last date for performance established by the contract, or any extension thereof. The security shall run in favor of the board of county commissioners, must be in a form acceptable to the county attorney, and may be either: 1. 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. (E) For good cause shown, the board of county commissioners may in its discretion grant one (1) or more extensions of time for performance of any contract for required improvements, provided the security supporting such contract remains valid for the required ninety -day period following the newly extended time for performance. (F) No certificate of occupancy for residential occupancy for any structure within a subdivision shall be issued until a certificate of completion has been issued for all required improvements, including required buffers, of the subdivision serving the residence. (G) During the security period, there shall be no reduction in the amount of security posted for residential subdivisions. (H) The board of county commissioners may charge fees to process requests to extend, modify, or substitute security and contracts for construction. Said fees shall be established by a formal resolution of the board of county commissioners. (2) Maintenance security. Coding: Words/letters underscored are additions to text; words/letters in stfiketiwougti format are deletions to text. 2 C.\Al4.........\ k 1........\f1"l•C\....d\....1 .......w A•.......n..s L.....A r.... ............ .1