A. Information Required: In each case where a security is posted, the applicant and the clerk-treasurer must sign a notarized security agreement, approved in form by the city attorney. This agreement must be recorded with the Pacific County auditor. The agreement must provide the following information:
1. A description of the work or improvements covered by the security.
2. The period of time covered by the security.
3. The amount and nature of the security and the amount of the cash deposit.
4. The rights and duties of the city and the applicant.
5. An irrevocable license to run with the property to allow employees, agents, or contractors of the city to go on the subject property for the purpose of inspecting and, if necessary, performing work or making improvements covered by the security.
6. The mechanism by and circumstances under which the security shall be released.
B. Release Of Security Mechanism: Upon release of any recorded security mechanism, a copy of the letter of release must be filed with the Pacific County auditor. (Ord. 848, 8-17-2009)