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In those instances in which any of the improvements as 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 cost of such lmprovemenss in lieu of actual construction or bond as required above. Such payment 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 upon the use of such payment by the city, such time limit in no instance to exceed ten (10) years. If such payment is not utilized by the city within the agreed time limit, it will revert to the subdivider. No certificate of occupancy shall be issued for the occupancy of any structure or building to be located in such subdivision unless and until the improvements required herein which are directly necessary to the use and enjoyment of such structure have been installed and accepted by the city except that final roadway surface need not be applied prior to issuance of such certificate if a suitable base and interim sealing agent acceptable to the city have been laid. Section 33-57. Certain minor subdivisions. (a) (2) Each parcel so subdivided must front on an existing, improved public street and the proposed subdivision of such parcel shall not require the extension of an existing public street or the construction of a new public street; provided, however, any parcel containing less than five (5) acres shall be deemed to satisfy this requirement if such parcel fronts on a right-of-way of not less than ten (10) feet nor more than twenty (20) feet providing ingress and egress to a dedicated recorded public street or thoroughfare. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held Septembe~ 10, 1985. Teste: City Clerk