15.20.040 Assurance of warranty.
The subdivider shall warranty all work against defective workmanship or materials for a period of two years from the date of its final acceptance.
The subdivider shall provide the City one of the following assurances for the 12-month warranty period, as a condition of final acceptance of off-site improvements:
(A) A letter of credit from a lending institution or surety company duly authorized to do business in this state; or
(B) Cash or Bond Assurances as Approved by the City Engineer. The assurance shall be in a form approved by the City Attorney and the City Engineer. The assurance period shall begin the day of final acceptance and approval by the City Engineer of the entire project. The warranty assurance shall be in a minimum amount of 10% of the cost of all work completed.
Thirty days prior to the expiration of the warranty period, the City Engineer shall hold an inspection to determine what, if any, defects exist.
The City Engineer shall notify the subdivider of the results of the inspection. The subdivider shall make all replacements or repairs prior to the final date of warranty.
In the event of failure to complete the work and failure to comply with all of the conditions and terms of the permit, the City Engineer may order the work required by the permit to be completed to his or her satisfaction. The surety executing such assurance shall continue to be firmly bound under a continuing obligation for the payment of all necessary costs and expenses that may be incurred or expended by the City in causing any and all such required work to be done.
The City shall promptly return to the subdivider all assurances deposited for maintenance of warranty work. Assurance documents shall be returned in full if the subdivider has corrected all defects and if the subdivider has furnished the City satisfactory receipts for all labor and materials billed and waiver of liens from any and all persons holding claims against the work. (Ord. 228 § 2, passed 4-13-2005.)