As a condition of approval of the project, the city may require the applicant to enter
into a written agreement with the city obligating the applicant to comply with the
transportation plan. Such agreement shall be made to run with the land and bind all
successors in interest of the applicant and shall constitute an equitable servitude
on the property. Where appropriate, the city may require the agreement to include
a provision for a penalty, in the event of breach by the applicant or a successor
in interest, and, where the applicant is required to construct physical improvements
on the project site, to include a provision for improvement security for the construction
in a form approved by the city attorney.
