A. The subdivider shall file with the agreement to assure full and faithful performance and maintenance thereof, a financial guarantee in conformance with Section 3.090 of the City of Lacey Development Guidelines and Public Works Standards.

B. If the subdivider fails to carry out provisions of the agreement and the city has unreimbursed costs or expenses resulting from such failure, the city shall call on the bond or cash deposit for reimbursement. If the amount of the bond or cash deposit exceeds the cost and expense incurred by the city, the city shall release the remainder. If the amount of the bond or cash deposit is less than the cost and expense incurred by the city, the subdivider shall be liable to the city for the difference. (Ord. 1520 §64, 2017; Ord. 1235 §1, 11, 2005).