[Amended 11-10-2015 by L.L. No. 5-2015]
Performance and maintenance security, as evidenced
by an irrevocable letter of credit or cash or certified check deposited
with the Village Treasurer, shall be posted by the subdivider to guarantee
to the Village that he will faithfully construct or cause to be constructed
and maintain or cause to be maintained for a specified time the required
public improvements and utilities which were an integral part of his
approved final plat and, further, that the construction shall be complete
within a reasonable period of time.