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(b) Contract by and between the City of Pleasanton <br /> and Valley Community Services District, dated <br /> September 23, 1965 . <br /> (c) Planning Commission Resolution No. 1002 adopted <br /> April 8, 1970, approving Tentative Asap, Tract <br /> 3150. <br /> 7 . SECURITY. On signing this agreement, the Subdivider <br /> shall present to the City and file with the City Clerk, improvement <br /> security as defined in Section 66499 of the Government Code of <br /> the State of California. Said improvement security shall consist <br /> of the following: <br /> (a) Cash deposit made with the City, or <br /> (b) Bonds by duly authorized corporate sureties , or <br /> (c) Instruments of credit from financial institutions <br /> subject to regulation by state or federal govern- <br /> ment. <br /> (d) Bonds of a duly authorized surety company covering <br /> all or a portion of said improvements required <br /> herein where a contract for improvements has been <br /> let through an assessment district proceedings , <br /> and where said bonds have been filed with the <br /> City Clerk prior to the execution of this agreement, <br /> as a part of the existing improvement district <br /> proceedings . <br /> One bond shall be in an amount of 1007, of the total estimated <br /> cost of improvements conditioned upon faithful performance of this <br /> agreement, and one bond in the amount of 100% of the total estimated <br /> cost shall secure payment to the contractor, his subcontractors, <br /> and to persons furnishing labor, materials or equipment to them <br /> for the improvements. <br /> Cash or instruments of credit shall be in an amount not less <br /> than 100% of the total estimated cost of improvements . <br /> As used herein, the total estimated cost of improvements are <br /> as follows : <br /> -4- <br />