In lieu of the completion of the required improvements the Commission may accept a performance bond together with a contractual agreement, a final mylar, an acquisition agreement and all deeds for the public right of way and utility and drainage easements in such form as may be prescribed by the Commission.
Upon receiving said materials the Commission may grant conditional final approval and authorize the filing of a plan with final approval endorsed thereon. Any such conditional final approval, which has not earlier become final shall lapse two years from June 30th of the year upon which it was granted. Prior to the granting of conditional final approval, and the filing and recording in accordance with this section all pertinent departments shall submit affirmative reports to the Planning and Zoning Commission. The Commission may grant renewal  of such conditional final approval for up to one additional two (2) year time period if it determines such extension is necessary and it does not extend the completion date as outlined in Section 2.07.