2724                            County Local Laws

(c) In lieu of filing a cash or corporate bond as required by
subsections (a) and (b) of this Section, any person may enter into
an agreement with the County, to be approved and executed on behalf
of the County by the County Executive or his designee providing that
the permittee shall deposit with the Director of Finance such sum of
money as is estimated by the Department of Public Works to be the
total cost of the project. The agreement shall itemize the several
phases of work or construction in sequence, with an amount opposite
each phase representing the value of the work or materials of that
particular step or phase in the work or construction. Upon completion
of each step or phase, the permittee shall notify the Department of
Public Works that he is ready for an inspection. The Director of Fi-
nance is hereby authorized to refund to the permittee any installment
due under the terms of the agreement to any permittee upon receipt
of a certificate, signed by the Director of Public Works, certifying that
the work has been performed by the permittee according to standards,
specifications and minimum requirements of this Article and any
waiver granted pursuant to Section 103-20 of this Code, and that
the permittee is entitled to the installment due for completion of
such work. Such certificate shall also be signed by the permittee,
certifying that an inspection has been made by a named inspector
for the particular step or phase of work or construction involved for
which the installment is due. Upon final completion of all work for
which the permit is issued, a final inspection certificate shall be issued
and, upon acceptance of the road by the County, the final payment
shall be made to the permittee. The final draw or payment under the
terms of the agreement shall in no event be less than fifteen percent
of the total cost of the project.

Sec. 48. Section 103-19, Chapter 103, title "Streets and Roads,"
of the Montgomery County Code 1965, as amended, is hereby repealed
and re-enacted, with amendments, to read as follows:

103-19. Acceptance of road by County.

All permittees under this Article and their agents and servants
shall comply with all applicable provisions of this Article, and until a
road constructed under the provisions of this Article is accepted for
maintenance by the County, the permittees, their agents and servants
and the bond given under this Article shall remain liable for the
faithful performance of the provisions. After completion and final
inspection of a road, the County shall either accept such road, upon a
finding that the construction of same has complied with this Article,
and release the bond, or it shall reject the road by written notification
to the permittee and his surety, where a corporate bond has been
posted, specifying the reasons for such rejection by reference to the
particular provision of this Article which has been violated, and allow
a reasonable time, to be specified therein, for such permittee or his
surety to comply with the provisions of this Article. If the permittee