Subdivider/owner shall agree to furnish payment of labor and materials furnished in the construction and installation of the improvements. The security shall be furnished in one of the forms described in Subdivision Improvement Bond section and shall be in an amount equal to not less than 50% of the Improvement Security as estimated by the City Engineer.
The security shall inure to the benefit of all persons, and entities furnishing services, supplies or equipment for the improvements as referenced in Sections 3110, 3111 and 3112 of the California Civil Code. All claims under this labor and materials payment security must be filed with the City Clerk on or before the expiration of 90 days after the completion of the improvements.
- LAMC 17.08(G)(2)(d) – Labor and Material Payment Security