A. For street system improvements, each latecomer agreement shall be valid for a period of 15 years from the date of its recording, unless earlier terminated as provided in subsection (C) of this section.

B. For utility system improvements, each latecomer agreement shall be valid for a period of 20 years from the date of its recording, unless earlier terminated as provided in subsection (C) of this section.

C. The city may terminate a latecomer agreement if the developer fails to commence or complete construction within the time and manner required in the public facilities construction agreement for the improvements. In the event of termination, the city shall record a release of latecomer agreement in the county auditor’s office. [Ord. 2016-09-034 § 1; Ord. 2014-06-033; Ord. 10906 § 2, 1997. Formerly 14.02.100].