Sec. 7-187. - Same—Construction agreement.

(a)

The construction guarantee agreement required by section 7-186 shall be effective on the date of the deposit of cash and shall end upon the date of completion to the satisfaction of the city engineer of all improvements required to be made. Upon completion of the improvements and their acceptance by the city, the cash deposit shall be returned to the owner.

(b)

The city is authorized, in the event of any default on the owner's part, to use any or all of the deposit money to cause all of the required work to be done or completed, and for payment of all costs and expenses therefor. Any money remaining shall be refunded to the owner.

(Code 1960, § 8303; Ord. No. 1383, § 2, 6-26-78)