§ 66499 (a) Whenever this division or a local ordinance authorizes or …
§ 66499.1 Except as provided in Section 66499.3, a bond or bonds by one or more …
§ 66499.2 A bond or bonds by one or more duly authorized corporate sureties for …
§ 66499.3 Security to guarantee the performance of any act or agreement shall …
§ 66499.4 As a part of the obligation guaranteed by the security and in …
§ 66499.5 If the required subdivision improvements are financed and installed …
§ 66499.6 Such money, negotiable bond or instrument of credit shall be a trust …
§ 66499.7 The security furnished by the subdivider shall be released in whole …
§ 66499.8 In all cases where the performance of the obligation for which the …
§ 66499.9 Any liability upon the security given for the faithful performance of …
§ 66499.10 v2 Where the security is conditioned upon the payment to the contractor, …
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Terms Used In California Codes > Government Code > Title 7 > Division 2 > Chapter 5 - Improvement Security

  • Contract: A legal written agreement that becomes binding when signed.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Grantor: The person who establishes a trust and places property into it.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Process: includes a writ or summons issued in the course of judicial proceedings of either a civil or criminal nature. See California Government Code 22
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
  • State: means the State of California, unless applied to the different parts of the United States. See California Health and Safety Code 23