A. Deposit Of Security:
1. As a condition of approval of a conditional use permit, land use compliance review, site plan and design review permit, specific plan, variance, planned development permit, special use permit, temporary special event permit, temporary use permit, or upon a finding that the public health, safety, and welfare warrant, the review authority may require a deposit of security in a reasonable amount to ensure the faithful performance of one or more of the conditions of approval in the event that the applicant/owner fails to perform.
2. The applicant/owner may elect to provide adequate security for the faithful performance of a condition(s) of approval imposed as part of the approval process if the director or planning commission determines that the condition(s) may be implemented at a later specified date (e.g., inability to install required landscaping due to poor weather conditions).
3. The security shall, as required by law or otherwise at the option of the town, be in the form of cash, a certified or cashier's check, letter of credit, a performance bond or other form of surety executed by the applicant and a corporate surety authorized to do business in California and approved by the town attorney.
4. The security shall remain in effect until all of the secured conditions have been performed.
5. Any security required in compliance with this section shall be payable to the town.
B. Release Of Security: Upon satisfactory compliance with all applicable provisions of this section, the security deposit shall be released. (Ord. 251, 11-18-2014)