§ 106.64.060. Performance Guarantees

Security to guarantee the completion of work required by a condition of approval of a planning permit required by this Zoning Code may be required by the review authority as a condition of approval, or allowed by the Director to defer required improvements or landscaping, in compliance with this Section.

A.

The security shall, as required by law or otherwise at the option of the City, be deposited with the City in the form of cash, a certified or cashier's check, letter of credit, or a faithful performance bond executed by the permittee and a corporate surety authorized to do business in California. The type of security shall be at the discretion of the Director. The security shall remain in effect until all of the secured conditions and/or work have been performed to the satisfaction of the Director.

B.

Upon completion of work to the satisfaction of the Director, the security deposit will be released. However, upon failure to perform any secured condition, the City may cause the work to be done, and may collect from the permittee, and surety in the case of a bond, all costs incurred by the City, including engineering, legal, administrative, and inspection costs.

C.

In the event the City causes the completion of required work guaranteed by the performance guarantee, any unused portion of the security shall be refunded to the permittee after deduction of the cost of the work and administrative costs incurred by the City; except that, to the extent that the Director can demonstrate to the satisfaction of the City Manager that the permittee willfully breached an obligation in a manner that he or she knew or should have known would create irreparable harm to the City, the entire amount of the bond or deposit may be withheld. The City Manager's determination may be appealed to the Council by the permittee in compliance with Chapter 106.72 (Appeals).