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Improvements Surety
A. Installation Surety.
1. The proper installation of street pavement, curbs, or curb and gutter, walks, storm drainage facilities, and street signs shall be guaranteed by the subdivider or his/her agent of surety in the form of surety bond, cashier's check, escrow account, irrevocable letter of credit from a recognized lending agency, or other like surety. Such surety shall be to the favor of the City and shall be satisfactory at the time construction plans are submitted for approval and prior to issuance of building permit. The amount of surety shall be for one hundred percent (100%) of the full cost of improvements as estimated by a registered professional engineer licensed to practice in the State of Missouri and shall remain in effect until final acceptance of all improvements by the Planning and Zoning Commission and acceptance of the performance surety.

2. Such surety shall be properly executed prior to any grading or construction and may be released in segments upon written approval of the Planning and Zoning Commission and by action of the City Council. A building permit shall not be issued for any lot or tract in a residential subdivision which abuts a street for which surety has not been furnished.
 
B. Performance Surety. In addition to the above surety requirement, a performance bond or irrevocable letter of credit from a recognized lending agency to the favor of the City of Aurora shall be provided by the subdivider, including all streets, curb and gutter, alleys, sidewalks, sanitary sewer installation, storm sewer installation and drainage structures. Such surety shall be in effect prior to acceptance of the improvements and shall remain in effect for a period of one (1) year from acceptance. The performance bond or letter of credit shall be in an amount not less than twenty-five percent (25%) of the installation surety. Such irrevocable letter of credit shall be approved by the Aurora City Attorney.