(A) Any improvement agreement contract or act required or authorized by the Subdivision Map Act for which security is required shall be secured in the manner provided for in § 66499 of the Subdivision Map Act.
('64 Code, § 20-16)
(B) (1) The improvement security shall be in the amount set forth or authorized in § 66499.3 of the Subdivision Map Act. If the improvement security is other than a bond or bonds furnished by duly authorized corporate surety, an additional amount shall be included as determined by the City Council as necessary to cover the cost and reasonable expenses and fees, including reasonable attorneys' fees, which may be incurred by the city in successfully enforcing the obligation secured.
(2) The improvement security shall also secure the faithful performance of any changes or alterations in the work to the extent that such changes or alterations do not exceed 10% of the original estimated cost of the improvement.
('64 Code, § 20-17)
(Ord. 506, passed 9-28-75)