Common use of Alternate Form of Security Clause in Contracts

Alternate Form of Security. Lessee may furnish County an alternate form of security, which may be in the form of cash, money order, certified check, cashier's check, or unconditional letter of credit, in the amount equal to one hundred percent (100%) of the cost of the construction or repairs to the facilities located on the Premises, in lieu of providing Performance and Payment Bonds. Such alternate form of security shall be subject to the approval of County, and include all the same conditions as set forth in subsection (a) above.

Alternate Form of Security. Lessee may furnish County an alternate form of security, which may be in the form of cash, money order, certified check, cashier's check, or unconditional letter of credit, in the amount equal to one hundred percent (100%) of the cost of the construction or repairs to the facilities located on the Premises, in lieu of providing Performance and Payment Bonds. Such alternate form of security shall be subject to the approval of County, and include all the same conditions as set forth in subsection (a) above.