In lieu of dedication, where required by this Part, an owner may, subject to the discretion of the officer, Board or Agency authorized to accept said dedication, enter into an agreement with the City to dedicate, signed by all persons having any right, title, interest or lien in the property, or any portion thereof, to be dedicated. The signatures on such agreement shall be acknowledged and the agreement shall be prepared for recordation.
In lieu of any required improvement under this Part, the officer, Board or agency authorized or required to accept the same, may in its discretion enter into an agreement with the owner, secured by cash or surety bond to the approval of the City Attorney, guaranteeing the installation of said improvements.