18.17.050 Construction prerequisites – Security – Bonds.
Bonds shall be executed by a surety company authorized to transact a surety business in California, and shall be approved as to form by the City Attorney, and shall include:
A. A faithful performance bond in an amount deemed sufficient by the City Engineer to cover up to 50 percent of the total cost of all required on-site and adjacent off-site improvements including 25 percent of grading and slope planting expenses as applicable.
B. A labor and material bond in a like amount.
C. A monumentation bond in an amount stipulated by the subdivider’s engineer to cover the cost of placing lot corners and other related monuments.
D. If a separate landscape and irrigation bond is provided for the project, the amount of the bond shall be in an amount deemed sufficient by the City Engineer to cover up to 50 percent of the planting and irrigation. (Ord. 3153 § 2 (Exh. C), 2010).