A. The improvement security shall be conditioned upon the faithful performance of the improvement agreement and shall be in one of the forms provided in section 66499 of the California Government Code.
B. A surety bond to secure the faithful performance of the agreement shall substantially conform to the form set forth in section 66499.1 of the California Government Code. A surety bond to secure payment to the contractor, subcontractor, and persons furnishing labor, materials or equipment shall substantially conform to the form set forth in section 66499.2 of the California Government Code.
C. Improvement security shall be filed with the director of public works, together with the improvement agreement, before the director of public works accepts the final map or parcel map for filing. The form of the improvement security shall be subject to the approval of the city attorney. (Ord. 2017-0009 § 29)