A. Except as provided in (B) below, any remodel of an existing structure containing three or fewer living units which includes the installation or major alteration in the existing communication, cable television, electric service and/or power service entrance shall provide for the receiving of the service to the service entrance from an underground facility to be maintained in a street area by the affected utility.

B. The affected property owner may elect, if approved by the City Engineer, not to provide for the receiving of service as provided in subsection 12.05.040(A) above. If the property owner so elects, the property owner shall execute an agreement to comply with the requirements of subsection 12.05.040(A) at such time as the affected area or portion thereof is converted to underground service.