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M.V. ORDINANCE N0. 85-5 <br />Page °5- <br />are ready for use and that they have been approved by the <br />various agencies whose approval is required. <br />In addition, the developer shall furnish to the Village <br />a maintenance bond in the amount of tw-errt.°y--€i-re- pe-rcrrt <br />-(-25-?)- FIFTY PERCENT (50%) of the cost of all improvements <br />which have been installed. This bond shall be conditioned <br />on the proper operation of these improvements for a period <br />of three (3) years from the date of the granting of the <br />final approval. The bond shall provide that the Village <br />will be held harmless and free of tort and contract <br />claims of third persons, with the right given to the Village <br />to effect any necessary repair or correction of these <br />improvements cluring such three (3) year period and hold the <br />principal and surety jointly and severally liable on the <br />bond. Before the Village exercises its right to effect <br />any necessary repairs or correction to the required <br />improvements during such three (3) year period it shall <br />first give a ten (10) day written notice to the developer <br />of its intention to do so. <br />Section 4. All prior ordinances inconsistent with this <br />ordinance in whole or in part are repealed to the extent necessary to <br />avoid conflict with this ordinance. <br />Section 5. That the Council finds and determines that all <br />formal actions of this Council relating to the adoption of this <br />Ordinance have been taken at open meetings of this Council; and that <br />deliberations of this Council and of its committees, resulting in such <br />formal action, took place in meetings open to the public, in compli- <br />ance with all statutory requirements including the requirements of <br />Section 121.22 of the Ohio Revised Code. <br />Section 6. This Ordinance shall take effect at the <br />earliest time allowed by law. <br />Richard C. Etzl r, Council President <br />First Reading: 3/18/85 <br />Second Reading: 4/15/85 <br />Third Reading: Suspended <br />PASSED: 4/15/85 <br />. ? <br />APPROVED. <br />Fred N. Carme , yor Date <br />APPROVED AS TO FORM: O-L c <br />Da].e C. Fene i, Law Director <br />ATTEST : k-ac& <br />Donna J. e t, er o ounci .