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f} 0> written notice from the subdivider for a periodic partial release or a final complete release of any bond, escrow, letter of credit, or other performance guarantee, the City Engineer shall notify the subdivider of approval or nonapproval 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 two (2) year period, the periodic partial release shall be deemed approved. No final release shall be granted until after expiration of said two (2) year period and there is an additional request in writing sent by certified mail, return receipt, to the city manager. If no action is taken within ten days from the receipt of this request, then the final release of the bond, letter of credit, escrow or other performance guarantee shall be deemed approved. (f) Upon acceptance of improvements, the subdivider shall execute and file with the City Engineer a maintenance bond equal to ten percent of the total cost of the public improvements installed for the subdivision. The subdivider shall be responsible for all maintenance or repairs for the public improvements as required by the City Engineer for a period of one year after acceptance of such improvements. (g) 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 improvements 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 years. If such payment is not utilized by the city within the agreed time limit, it will revert to the subdivider. (h) If a subdivider makes an advance of payments for or construction of reasonable and necessary road improvements located outside the property limits of the land owned or controlled by the subdivider, the need for which is substantially generated 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 of such advance together with interest, which shall be excludable from gross income for federal income tax purposes, at a rate equal to the rate of interest on bonds most recently issued by the city on the following terms and conditions: (1) The city shall determine or confirm that the road improvements were substantially generated and reasonably required by the construction or improvement of the subdivision or development, and shall determine or confirm the cost thereof on the basis of a study conducted by qualified traffic engineers and approved and accepted by the subdivider. (2) The city shall prepare, or cause to be prepared, a report, accepted and approved by the subdivider indicating the governmental services required to be furnished to the subdivision or development and an estimate of the annual cost thereof for the period during which the reimbursement is to be made to the subdivider. (3) The city may make annual reimbursements to the subdivider from funds made available for such purpose from time to time, including, but not limited to, real estate taxes assessed and collected against the land and improvements on the property included in the subdivision in amounts equal to the amount by which such real estate taxes exceed the annual cost of providing reasonable and necessary governmental services to such subdivision or development. (i) 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 Page 29 of 33