§ 70-604.8. Use of surety.

(a)

In those cases where performance surety has been posted and the required improvements or installations have not been completed within the terms of the subdivision agreement, the agent shall declare the subdivider to be in default and shall draw on the posted surety. After the funds or proceeds from the surety have been received, the agent shall cause such improvements to be completed. The subdivider shall be fully and completely responsible and liable for the entire cost of completing the improvements, even when such cost exceeds the amount of surety.

(b)

If the funds or proceeds from the surety are insufficient to complete the improvements, the agent and the county attorney shall proceed to obtain such funds from the subdivider, its successor or assigns including such reasonable costs as may be expended in the process.

(c)

If any funds remain after all improvements or installations are completed and accepted with all necessary fees paid and no defects are found therein which must be repaired, such remaining funds, less any such reasonable administrative or overhead costs which may have accrued, shall be returned to the subdivider within 180 days of final acceptance of the final improvement or installation.

(Ord. No. O-09-02, 1-27-2009)

(Ord. No. O-09-02, 1-27-2009)