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reflect increases in the cost of constructing the required improvements that have occurred prior to the granting of the extension, and the cost of additional inspection services. 12. No Waiver by the City, Final Acceptance. Inspection of the work and/or materials, or approval of work and/or materials inspected, use of the work by the public as public right-of-way, or statement by any officer, agent, or employee of the City indicating the work complies with the requirements of this Agreement, shall not relieve the Subdivider from the obligation to fulfill the Agreement as prescribed herein. Acceptance of any part or stage of said improvements shall not be fmal until a written notice of acceptance of all the improvements shall have been delivered to Subdivider. 13. Improvement Security. Concurrently with the execution hereof Subdivider shall furnish the City an improvement security in the sum of TWENTY THOUSAND DOLLARS ($20,000.00), which sum is equal to one hundred percent (100%) of the estimated cost of constructing the "required improvements", security payment to the contractor, his subcontractor and to persons furnishing labor, materials or equipment to them for the construction of the required improvements, and for the payment of amounts due under the Unemployment Insurance Act with respect to such work or labor in connection with the installation of such improvements, and the cost of any other obligations to be performed by Subdivider hereunder, securing the faithful performance of this Agreement. The form of the improvement security shall be subject to the approval of the City Attorney. Improvement security shall be reduced or released by City only in the manner provided by the Subdivision Regulations of City. No change, alteration or addition to the terms of this Agreement or the plans and specifications accompanying the same shall in any manner affect the obligation of those providing improvement security pursuant to this Agreement. 14. Hold Harmless Agreement. Subdivider hereby agrees to, and shall, hold City, its elective and appointive boards, commissions, officers, agents and employees harmless from and against any or all loss, liability, expense, claim, costs, suits, damages of every kind, nature and description directly or indirectly arising from the performance ofthe work from Subdivider, Subdivider's contractors', subcontractors', agents' or employees' operations under this Agreement. Subdivider agrees to, and shall, defend City and its elective PARCEL MAP 9307 - SUBDNISION IMPROVEMENT AGREEMENT C:\Work\Plants\San Leandro\SUB IMP AGR PM 9307.doc PAGE 5 OF 14