A. General. Except as provided otherwise in subsection B of this section, a subdivider shall secure the improvement agreement entered into pursuant to section 17.852.110 in the following amounts:
1. Performance Security. An amount determined by the director public works and director of utilities to be 100% of the total estimated cost of the construction or installation of the improvements or of the acts to be performed, securing the faithful performance and completion of the improvements or acts to be performed;
2. Payment Security. An amount determined by the director public works and director of utilities to be not less than 50% nor more than 100% of the total estimated cost of the improvement or required act, securing payment to the contractor, to the subcontractors, and to persons furnishing labor, materials or equipment for the construction or installation of the improvements or the performance of the required acts; and
3. Warranty Security. An amount determined by the director public works and director of utilities to be necessary for the guarantee and warranty of the work for a period of one year following the completion and acceptance thereof against any defective work or labor done, or defective materials or equipment furnished.
B. Nonprofit California Corporations. Pursuant to section 66499.3 of the, entities that are California nonprofit corporations, funded by the United States of America or one of its agencies, or funded by the state of California or one of its agencies, are exempt from the requirements of subsections A.1 and A.2, provided they meet and fulfill the alternative security requirements specified in section 66499.3(c) of the Subdivision Map Act. (Ord. 2017-0009 § 29)