(1) All special ordinances authorizing the striking of a street from the City Plan shall be in accordance with this Section, and shall be in a form similar to that prescribed in § 11-402 for authorizing the placing of streets on the City Plan.

(2) Except as otherwise provided and in addition to any specific requirements in any such ordinance, each authorization to strike a street from the City Plan shall be conditional upon compliance with the following requirements within one year from the date of approval of such ordinance:

(a) the filing of an agreement in form satisfactory to the Law Department, indemnifying the City from all damages, or claims for damages, which arise by reason of the changes authorized in the City Plan;

(b) the filing of an agreement in form satisfactory to the Law Department, agreeing to make such changes and adjustments to public utility structures, City structures, and structures under the control of private interests as may be necessary, in the judgment of the Department of Streets, by reason of the changes authorized in the City Plan; the agreement to provide that all such work shall be completed within one year after the date of confirmation by the Board of Surveyors of the changes authorized by the ordinance;

(c) the filing of a bond, in form satisfactory to the Law Department and in amount satisfactory to the Department of Streets, to cover the cost of the work required under § 11-403(2)(b);

(d) the payment of the assessments for grading, paving and other municipal improvements and costs incurred by the City in opening and building the street, unless previously assessed.

(3) Each grant of authority to strike a street from the City Plan shall, without further specification, carry with it authority to revise the lines and grades of intersecting and adjacent streets affected thereby.