A.
The subdivider shall be required to provide and install the improvements listed in § 311-14 below as a condition for final approval for recording the final plat, or the subdivider may post performance guarantee in lieu thereof pursuant to § 311-9G of this chapter.
(1)
Prior to final approval, if the applicant has not installed all improvements meeting the requirements of this chapter, he shall have filed with the City a performance guarantee sufficient in the amount to cover 120% of the cost of all such improvements or uncompleted portions thereof as estimated by the City Engineer, and assuring the installation of such uncompleted improvements on or before an agreed date. Such performance guarantee may be in the form of a performance bond which shall be issued by a bonding or surety company approved by City Council; a certified check, returnable to the subdivider after full compliance; or any other type of surety approved by the City Solicitor.
(2)
The performance guarantee shall be approved by the City Solicitor as to form, sufficiency and execution. Such performance guarantee shall run for a period to be fixed by the Planning Board but, in no case, for a term of more than three years. However, with the consent of the owner and the surety, if there be one, the City Council may by resolution extend the term of such performance guarantee for an additional period not to exceed one year. Prior to the release of the performance bond, the developer shall provide as-built details indicating the improvements as constructed and as approved by the City Engineer.
B.
All required improvements shall be installed or constructed in accordance with the design standards set forth in Article VI of this chapter or in accordance with standards and specifications adopted by appropriate county or state agency or such other governmental agency or utility commission as may have jurisdiction over a particular improvement.
(1)
When there is a conflict between the standards set forth in this chapter and those adopted by other governmental agencies, the more strict standards shall apply, and the subdivider shall install the improvements as though the more strict standards were a part of this chapter.
(2)
Standards set forth in this chapter are considered to be minimum standards. However, nothing contained herein shall be construed as prohibiting the subdivider from installing improvements meeting higher standards than the minimum requirements.