(A) The applicant for a permit required by this chapter shall file with the City Clerk a faithful performance bond or other improvement security in an amount equal to 125% of the City Engineer’s estimate of costs for improvements, landscaping and maintenance of landscaping for that period as specified by the city and to secure all engineering, inspection fees and incidental expenses.
(B) If the applicant has entered into a contract for any of the foregoing, then the bond shall be in an amount equal to 100% of the cost of the contract.
(2000 Code, § 15.44.070)