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<br />reflect increases in the cost of constructing the required improvements that have occurred prior to the <br /> <br />granting of the extension, and the cost of additional inspection services. <br /> <br />12. No Waivt<..r by the City, Final Acceptance. Inspection of the work and/or materials, or approval <br /> <br />of work and/or materials inspected, use of the work by the public as public right-of-way, or statement by any <br /> <br />officer, agent, or employee of the City indicating the work complies with the requirements of this <br /> <br />Agreement, shall not relieve the Subdivider from the obligation to fulfill the Agreement as prescribed <br /> <br />herein. Acceptance of any part or stage of said improvements shall not be final until a written notice of <br /> <br />acceptance of all the improvements shall have been deli vered to Subdivider. <br /> <br />13. Improvement Security. Concurrently with the execution hereof Subdivider shall furnish City: <br /> <br />(a) Improvement security in the sum of <br /> <br />ONE HUNDRED FIFTY-SEVEN <br /> <br />THOOSAND AND NINE HUNDRED DOLLARS ($157.900.00), which sum is equal to one hundred <br /> <br />percent (100'%), ofthe estimated cost of constructing the "required improvements" and the cost of any other <br /> <br />obligation to be perforn1ed by Subdivider hereunder, securing the faithful perforn1ance ofthis Agreement. <br /> <br />(b) Separate improvement security in the sum of ONE HUNDRED FIFTY -SEVEN <br /> <br />THOOSAND AND NINE HUNDRED DOLLARS ($157.900.00), which sum is equal to one hundred <br /> <br />percent (100%) of the estimated cost of constructing the required improvements, security payment to the <br /> <br />contractor, his subcontractor and to persons furnishing labor, materials or equipment to them for the <br /> <br />construction of the required improvements, and for the payment of amounts due under the Unemployment <br /> <br />Insurance Act with respect to such work or labor in connection with the installation of such improvements. <br /> <br />The form of the improvement security shall be subject to the approval of the City Attorney. Improvement <br /> <br />security shall be reduced or released by City only in the manner provided by the Subdivision Regulations of <br /> <br />City. No change, alteration or addition to the terms of this Agreement or the plans and specifications <br /> <br />accompanying the same shall in any manner affect the obligation of those providing improvement security <br /> <br />pursuant to this Agreement. <br /> <br />14. Maintenance Security. Prior to initial acceptance of any of the work constructed hereunder or <br /> <br />the release of any of the securities required under Paragraph 13., hereof, Subdivider shall furnish the City a <br /> <br />TRACT MAP 74')7 <br />SUUDIVISION IMPROVEMENT AGREEMENT <br />G:\_LD\_ Tract Map & Parcel Map\TM7497-915 Lewelling Blvd\SUBlMP.AGR.doc PAGE 5 OF 16 <br />