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ARTICLE X. SECURITY AND SECURITY RELEASE
(A) Any improvement, agreement, performance, or act required or authorized by the Subdivision Map Act, for which security may be required, shall be secured in the manner provided in Cal. Gov't Code, Section 66499.
(B) The improvement security shall be in an amount equal to 100% of the total estimated cost of the improvement or of the act to be performed, said security conditioned upon the faithful performance of the act or agreement, and an additional amount equal to 50% of the total estimated cost of the improvement or the performance of the act required, securing payment to the contractor, his/her subcontractors, and to persons furnishing labor, materials or equipment to said contractor or subcontractors for the improvement or performance of the required act.
(C) The improvement security shall secure the faithful performance of any changes or alterations in the work not to exceed 10% of the original estimated cost of the improvement.
(`64 Code, Sec. 27-111) (Ord. No. 1570, 1758, 1826)
The improvement security required hereunder shall be released in the following manner:
(A) Security given for faithful performance of any act, performance, or agreement shall be released upon the final completion and acceptance of the act or work subject to the provisions of subsection (B) hereof.
(1) The city manager may release a portion of the security in conjunction with the partial performance or the acceptance by the city of the performance, the act, or work as it progresses upon application therefor by the developer; provided, however, that no release of security shall be for an amount less than 25% of the total improvement security given for faithful performance of the act or work, and the security shall not be reduced to an amount less than 25% of the total improvement security given for faithful performance until final completion and acceptance of the act or work.
(2) In no event shall the city manager authorize a release of improvement security which would reduce the security to an amount below that required to guarantee the completion of the performance, the act, or work and any other obligation imposed by this chapter, the Subdivision Map Act or the improvement agreement.
(B) Security given to secure payment to the contractor, subcontractors and to persons furnishing labor, materials or equipment may be released 65 days after the recording of a notice of completion, or if a notice of completion is not recorded, 95 days. The amount of the security required shall be the total security less the amount of all claims of lien that have been recorded and notice given to the city in writing.
(C) No security given for the guaranty or warranty of work shall be released until the expiration of the period thereof.
(`64 Code, Sec. 27-112) (Ord. No. 1570)
ARTICLE XI. EFFECT OF APPROVALS
Neither the approval or conditional approval of any parcel map shall constitute or waive compliance with any other applicable provision of this code, nor shall any such approval authorize or be deemed to authorize a violation or failure to comply with other applicable provisions of this code.
(`64 Code, Sec. 27-115) (Ord. No. 1570)
Any deed of conveyance, sale or contract to sell made contrary to the provisions of these parcel map regulations is voidable to the extent and in the same manner as is provided for violation of the Subdivision Map Act.
(`64 Code, Sec. 27-116) (Ord. No. 1570)
Any person purchasing any parcel in good faith and without notice of violation of the provisions of this article by his/her predecessor in title shall be required to meet the standards of this chapter relating to design and improvement as a condition of obtaining a building permit. For purposes of this chapter, any such parcel shall be deemed to be property described by metes and bounds and a tentative parcel map and parcel map shall be required as provided in this article.
(`64 Code, Sec. 27-117) (Ord. No. 1570)