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• H. Certification of Compliance with Approved Landscape Plan:Upon completion of the required landscape installation,the Developer shall notify the City and request an inspection of the work.Following the inspection,the City shall notify the Developer that all work has been satisfactorily completed,or what work is still required.The required warranty period,shall begin on the date of the letter of satisfactory completion issued by the City. I. Warranty Requirement: 1. New Development Sites:The Developer shall provide a financial guarantee,in a form satisfactory to the City, prior to the approval or issuance of any permit for land alteration. a. The amount of the guarantee shall be 125%of the estimated cost to furnish and plant replacement trees.The estimated cost shall be provided by the Developer subject to approval by the City. The estimated cost shall be at least as much as the reasonable amount charged by nurseries for the furnishing and planting of replacement trees. The City reserves the right in its sole discretion to determine the estimated cost in the event the Developer's estimated cost is not approved. • b. The security shall be maintained for at least 2 years after the date that the last replacement tree has been planted.Upon a showing by the Developer and such inspection as may be made by the City,that portion of the security may be released by the City equal to 125%of the estimated cost of the replacement trees which are alive and healthy at the end of such year.Any portion of the security not entitled to be released at the end of the year shall be maintained and shall secure the Developer's obligation to remove and replant replacement trees which are not alive or are unhealthy at the end of such year and to replant missing trees.Upon completion of the replanting of such trees the entire security may be released. 2. Development or Redevelopment of Existing Lots:The developer shall provide a cash escrow in the amount of $500.00 to guarantee compliance with the requirements of this Ordinance.Said security shall be released upon certification of compliance by the developer to the satisfaction of the City.Notwithstanding the foregoing, no portion of the security shall be released while there are unsatisfied Developer's obligations to indemnify the City for any expenses in enforcing this requirement. 3. The City may retain from the security required above as reimbursement an amount expended by the City to enforce the provisions of this Section.