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~elease or m final complete release of any bond, escrow, letter of credit, or other performance guarantee, the City Engineer shall notify the subdivider of approval or non- approval of such requests or of any specific defects or deficiencies in construction and suggested corrective measures. If no such notice is provided to the subdivider within the 30 day period the periodic partial release shall be deemed approved. No final release shall be granted until after expiration Of said 30 day period and there is an additional request in writing sent by certified mail re~urn receipt to the City Manager. If no action is taken within 10 days from the receip~ of this reguest, then the final release of the bond, letter of credit, escrow or other p~rformance ~uarantee shall De deem~ approved. Upon acceptance of improvements the subdivider shall execute and file with the City Engineer a maintenance bond equal to 10~ of the total cos~ of the public improvements installed for the subdivision. The subdivider shall be responsible for &ll maintenance or repairs for the public improvements as required by the City Engineer for a period of one year after acceptance of such improvements. In thou instances in which any of the improvements required by this section could be more conveniently installed by the City or its agent, the City may in its discretion, accept payment of the total Cos% of such improvemen%s in lieu of actual construction or bond as required above. Such pay- merit will be set forth in an agreement approved by the City Attorney, which agreement will set forth the conditions of payment and a time limit u~on the use of such ~ayment by the City, such time limit in no instance so exceed ten years. If such payment is not utilized by the City within the agreed time limit, it will revert to the subdivider. If a subdivider makes an advance of payments for or construction of reason~able and ~ecesssry roa~ improvements located outside the properEy limi~s of the land owned or controlled by the subdivider, the need for which is substantially ~enerated and reasonably required by the construction or improvement of the subdivision or development, and such advance is accepted, the City may agree to reimburse the subdivider from such funds as the City may make available for such purpose from time to time for the cost off such advance together with interest, which shall be excludable from gross income for Federal income tax purposes, at a rate equal ~o the rat~ of interest on bo~ds most ~eoently issued by the City on the followin~ terms and oondition~: PORTSMOUTH SUBDIVISION ORDINANCE --- PAGE 17