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The form of security shall be one or the combination of the following at the option and subject to the approval of the City:

A. A bond, or bonds by one or more duly authorized corporate sureties.

B. A deposit, either with the local agency or a responsible escrow agent or trust company, at the option of the City, of money or negotiable bonds of the kind approved for securing deposits of public monies.

The form and provisions of the bond or bonds shall be as specified by Sections 66499.1 and 66499.2 of the Subdivision Map Act. (Ord. 5793-NS § 2 (part), 1987)