Guam § 62504 - Time Allowed for Completion of Improvements.

§ 62504. Time Allowed for Completion of Improvements.

Upon approval of the tentative subdivision plan by the

Commission, the subdivider shall complete within one (1) year all

of the improvements required, except that the Commission, for

good cause shown, may authorize an extension of time, not to

exceed twelve (12) months, for such completion. Within such

time, the subdivider must either:

(a) Complete the required improvements and, upon

acceptance thereof by the government, file his final plans; or

(b) Furnish bond acceptable to the Commission for the

completion of improvements, the bond to be in penal sum of one

hundred fifteen percent (115%) of total work costs as verified by

the Director of Public Works. On approval of the bond, the final

plans may be filed.