Time Allowed for Completion of Improvements

Upon approval of the tentative subdivision plan by the Commission, the subdivider shall complete within one

(1)year all of the improvements required, except that the Commission, for good cause shown, may authorize an extension of time, not to exceed twelve

(12)months, for such completion. Within such time, the subdivider must either:

(a)Complete the required improvements and, upon acceptance thereof by the government, file his final plans; or

(b)Furnish bond acceptable to the Commission for the completion of improvements, the bond to be in penal sum of one hundred fifteen percent (115%) of total work costs as verified by the Director of Public Works. On approval of the bond, the final plans may be filed.