As construction of improvements progresses, the City may make progress payments to the subdivider from any deposited money or instrument of credit which the subdivider may have made in lieu of providing a surety bond; provided, however, that no such progress payment shall be made for more than 90 percent of the value of any installment of work; and provided, that the aggregate amount thus paid is not in excess of 50 percent of the total amount posted as improvement security. No progress payments from cash deposits shall be made except upon joint certification by the City Engineer and the subdivider that work covered thereby has been completed. (Ord. 3153 § 2 (Exh. C), 2010; Ord. 2100 § 1, 1985; Ord. 1369 § 2, 1971; prior code § 28.314(1). Formerly 18.16.300).