A. After approval of all utility improvement plans and street improvement plans, specifications and construction programs by the county engineer and/or the county road commissioner, but prior to filing of the tracing of the final map with the planning department, the owner or subdivider shall execute and file an agreement or agreements, in such form as the county may direct, between himself and the county specifying the period within which he shall complete all said improvement work to the satisfaction of the county, and providing that if he fails to complete such work within such period, the county may complete the same and recover the full cost and expense thereof from the subdivider.
B. At the time of filing the agreement, the subdivider will deposit with the county an acceptable security. The amount of this security will be equal to one hundred fifty percent of a California registered civil engineer’s cost estimate. The cost estimate must be approved by the county engineer or his designee. The security amount (one hundred fifty percent of the approved estimate) includes one hundred percent for performance and fifty percent for labor and materials. In the event the subdivider duly performs each phase of the agreement at the time and in the manner therein prescribed, the county may release that portion of the funds to the subdivider for the performance of each phrase of the construction. In the event the subdivider defaults in any phase of the construction, then, in that event, the county may determine forthwith to proceed with the construction of the work and use the money so deposited for such construction. The phases of work referred to in this subsection relate to the time schedule for the installation of improvements which was filed with the final map and signed by the road commissioner and county engineer. Provided further, that any such money so deposited with the county shall not draw interest and is on deposit solely for the benefit of said subdivision.
C. In lieu of the security in subsection B of this section, at the time of filing the agreement, the county may enter into an escrow agreement with the developer. The terms of the escrow agreement shall be as follows:
1. The title to the subdivided property shall be placed in trust with a third party escrow agency or trust company authorized to do business in California along with an agreement between the trustee and the county that title to any lot or parcel within the subdivision will not be transferred until written approval is given by the county for the release or partial release of property held in trust. The county will not authorize any such release until the necessary improvements have been completed.
2. The agreement must contain an accurate legal description of the subdivision.
3. Special conditions or improvements unique to the subdivision shall be listed in an attached exhibit.
4. The agreement must be recorded at the time of final plat recordation.
5. The agreement must provide authorization for county to abandon the subdivision final plat and convert the property to unsubdivided land if the required improvements fail to be installed in compliance with the county’s standard specifications within three years:
a. The resource management agency director, under authority vested by the board of supervisors, may extend the time specified to complete improvements for one year if the purposes of these regulations would still be served.
b. The board of supervisors, in its absolute discretion, may extend the time specified to complete improvements for additional terms if the purposes of these regulations would still be served.
6. If the subdivision is sold, a new assurance agreement shall be executed concurrently with the sale.
7. Assurances shall be released as follows:
a. After final plat approval, lots for five model homes per phase can be permitted to the developer or duly authorized sales representative prior to completion of improvements. These homes shall not be sold to individual property owners or occupied for residential use until they are released for sale. Model homes will be permitted by phase and additional model homes shall not be permitted for subsequent phases until improvements are completed in the previous phase.
b. Upon the recommendation of the resource management agency director, under authority vested by the board of supervisors, may release assurances upon a determination that all improvements are completed in accordance with all conditions of final plat approval.
c. The resource management agency director shall record a form in the county recorder’s office indicating which lots have been released from an assurance agreement within a recorded subdivision.
d. Partial releases shall only be approved for completed phrases. (Ord. 278-P § 1, 2005; Ord. 278N § 12(part), 2004: Ord. 278-E § 3, 1966: Ord. 278-A § 10, 1964: Ord. 278 § 950, 1963).

In addition to any other security required by this article, the board of supervisors may require the subdivider to file with the aforesaid agreement or agreements, to assure his full and faithful performance thereof, a bond or bonds in a form prescribed by the county for such amount as is deemed sufficient by the county engineer and the county road commissioner to cover the cost of utility improvements and road improvements. Such bond shall be issued by a surety company authorized to transact business in the state. (Ord. 278N § 12(part), 2004: Ord. 278-E § 4, 1966: Ord. 278-A § 11, 1964: Ord. 278 § 951, 1963).