A. In lieu of completion of improvements, or any portion thereof, required by this title, the owner may deposit a surety and sign a surety agreement for completion of such improvements. The surety and surety agreement shall be deposited with the director on forms provided by the director.
B. The amount of surety called for shall be equal to not less than one hundred twenty percent (120%) of the cost of completing the required improvements. The estimated cost shall be provided by the applicant and reviewed and approved by the county engineer.
C. In all cases the surety shall be drawn solely in favor of, and payable to, the order of the county of Ada, in accord with the regulations contained in the surety agreement by and between the guarantor and the county of Ada. (Ord. 389, 6-14-2000)