For Payment. Security in an amount equal to fifty percent (50%) of the Estimated Total Cost of the Improvements (excluding Grading and Monumentation) as set forth above in the Development Reference Data. With this security, the form of which shall be subject to the City's prior approval, the Developer guarantees payment to the contractors, subcontractors, and persons renting equipment or furnishing labor or materials to them or to the Developer. If monumentation is involved, this improvement security shall also guarantee to the Developer's engineer or surveyor payment of the Estimated Total Cost of setting monuments, as required by Government Code Section 66497.
Appears in 4 contracts
Samples: Development Improvement Agreement, Development Improvement Agreement, Development Improvement Agreement
