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Town Engineer to be at least the equivalent of the improvements specified in said agreement and required to be constructed by the subdivider, and (4) for progress payments to the subdivider from any deposit money which the subdivider may have filed in lieu of a surety bond, as provided by the next succeeding paragraph. The subdivider shall also file with the aforesaid agreement, to assure his full and faithful performance thereof, a bond for such sum as is sufficient to cover the cost of said improvements and in- spection. Such bond shall be executed by a surety company authorized to transact a surety business in the State of California and must be approved by the Town Attorney as to form and by the Town Clerk as to sufficiency. In lieu of said bond the subdivider may deposit cash, or certified or cashier's check with the Town Treasurer. In the event the subdivider shall fail to complete all im- provement work in accordance with the provisions of this Ordinance and the Town shall have completed same, or if the subdivider shall fail to reimburse the Town for the cost of inspection or to maintain said improvements for one year, the Town shall call on the surety for reimbursement, or shall appropriate from any cash deposits funds for reimbursement. No extension of time, progress payments from cash deposits, or releases of surety bond or cash deposit shall be made except upon certification by the Town Engineer that work covered thereby has been satisfactorily completed, and upon recommendation of the Town Clerk and approval of the Council. SECTION 5. Except as herein amended Ordinance No. 19 shall remain in full force and effect. SECTION 6. This Ordinance shall be posted in three (3) public places in the Town of Los Altos Hills and shall become effective thirty (30) days after its adoption. Adopted at a regular meeting of the City Council of the Town of Los Altos Hills held on the 20th day of September , 1956, by the following vote: AYES: Councilmen Dungan, Fowls, Mayor Treat NOES: None ABSENT: Councilmen Bledsoe, Rothwell Mayo ATTEST: City Clerk CERTIFIED A� True�py City Clerk — 2