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9 . 07 .11 Metes and Bounds Lot Splits. The Park and Recreation <br /> Commission may recommend cash payment in lieu of park land on <br /> metes and bounds lot splits less than twenty ( 20 a. ) acres in <br /> size. The amount shall be determined through the same process <br /> outlined in Section 9 . 07 . 05. ( 10P, 12-19-89 ) <br /> SECTION 10. CONSTRUCTION OF IMPROVEMENTS. <br /> 10 . 01 General Conditions. Upon receipt of preliminary plat <br /> approval by the Council and prior to Council approval of the final <br /> plat, the subdivider shall make provision, in the manner <br /> hereinafter set forth, for the installation, at the sole expense <br /> of the subdivider, of such improvements as shall be required by <br /> the City, which improvements may include, but are not limited to, <br /> streets, sidewalks, public water systems, sanitary sewer systems, <br /> surface and storm drainage systems, and public utility services. <br /> The installation of said improvements shall be in conformity with <br /> approved construction plans and specifications and all applicable <br /> standards and Ordinances. <br /> 10. 02 Performance Contract. Prior to the installation of any <br /> required improvements and prior to approval of the final plat, the <br /> subdivider shall enter into a contract with the City which <br /> contract shall require the subdivider to construct said <br /> improvements at the sole expense of the subdivider and in <br /> accordance with approved construction plans and specifications and <br /> all applicable standards and Ordinances. Said contract shall <br /> provide for the supervision of construction by the Engineer ; and <br /> said contract shall require that the City be reimbursed for all <br /> costs incurred by the City for engineering and legal fees and <br /> other expenses in connection with the making of such improvements. <br /> The performance of said contract shall be financially secured by a <br /> cash escrow deposit or performance bond as hereinafter set forth. <br /> 10.03 Financial Security. The performance contract shall <br /> require the subdivider to make a cash escrow deposit or in lieu <br /> thereof to furnish a performance bond in the following amounts and <br /> upon the following conditions: <br /> a. Escrow Deposit. The subdivider shall deposit with the <br /> Treasurer a cash amount equal to one hundred fifty ( 150%) percent <br /> of the total cost of such improvements as estimated by the <br /> Engineer , including the estimated expenses of the City for <br /> engineering and legal fees and other expenses incurred by the City <br /> in connection with the making of such improvements . ( 10A, 9-10- <br /> 74 ) <br /> b. performance Bond. in lieu of a cash escrow deposit, the <br /> subdivider may furnish a performance bond, with a corporate surety <br /> satisfactory to the City in a sum equal to one hundred fifty <br /> ( 150% ) percent of the total cost of such improvements as estimated <br /> by the Engineer , including the estimated expense of the City for <br /> engineering and legal fees and other expenses incurred by the City <br /> in connection with the making of such improvements. ( 10A, 9-10- <br /> ^� 74) <br /> Page 18 <br /> TOTAL P.05 <br />