Security Requirement. Prior to the City Council’s execution of this Agreement, the Developer will provide the City with a cash escrow (or other surety as approved by the City Attorney) as security that the obligations of the Developer to the City under this Agreement shall be performed. Said cash escrow or surety shall be in the amount of $30,000 as determined by the City Engineer.
Appears in 2 contracts
Sources: Grading Agreement, Grading Agreement