The subdivider shall enter into an improvement agreement with the city council. The improvement agreement shall include:

A. A commitment to complete the improvements within the specified time;

B. The projected costs of the improvements as approved by the city council;

C. A guarantee acceptable to the city council and in a value equal to the approved projected costs of the improvements; and

D. A warranty against defects in the improvements for a period of one year from the date of completion and the city council’s acceptance. (Ord. 588 § 1(part), 1996)