A. At the time of submittal of the final plat pursuant to Section 450.140(A)(1) or at the time of City acceptance of the public improvements pursuant to Section 450.150(A)(2), the developer shall execute a maintenance agreement agreeing to maintain the public facilities for a period of one year following the date of acceptance of the public facilities by the City. The developer shall be responsible for correcting all deficiencies in construction and maintenance brought to the attention of the developer during the one-year warranty period. The agreement shall state that, should the developer fail to maintain the facilities or correct any defects brought to the developers attention, the City shall estimate the cost of completing the work, call upon the performance guarantee as necessary to cover the cost, and complete the improvement from funds collected under the performance guarantee. If the funds collected under the performance guarantee are insufficient to make the required improvements, the City may:

The developer shall post a maintenance guarantee in the amount of ten percent of the cost of the public improvements accepted by the City to insure this obligation. The maintenance guarantee shall be in the form set forth in Section 450.150(A). At the end of the one-year period, the City shall release any remaining maintenance guarantee.