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reflect increases in the cost of constructing the required improvements that have occurred prior to the <br />granting of the extension, and the cost of additional inspection services. <br />12. No Waiver by the City, Final Acceptance. Inspection of the work and/or materials, or approval <br />of work and/or materials inspected, use of the work by the public as public right-of-way, or statement by any <br />officer, agent, or employee of the City indicating the work complies with the requirements of this <br />Agreement, shall not relieve the Subdivider from the obligation to fulfill the Agreement as prescribed <br />herein. Acceptance of any part or stage of said improvements shall not be final until a written notice of <br />acceptance of all the improvements shall have been delivered to Subdivider. <br />13. Improvement Security. Concurrently with the execution hereof Subdivider shall furnish City: <br />(a) Improvement security in the sum of FOUR HUNDRED NINETY-SIX THOUSAND <br />DOLLARS ($496,000.00), which sum is equal to one hundred percent (100%), of the estimated cost of <br />constructing the "required improvements" and the cost of any other obligation to be performed by <br />Subdivider hereunder, securing the faithful performance of this Agreement. <br />(b) Separate improvement security in the sum of FOUR HUNDRED NINETY-SIX <br />THOUSAND DOLLARS ($x96,000.00), which sum is equal to one hundred percent (100%) of the <br />estimated cost of constructing the required improvements, security payment to the contractor, his <br />subcontractor and to persons furnishing labor, materials or equipment to them for the construction of the <br />required improvements, and for the payment of amounts due under the Unemployment Insurance Act with <br />respect to such work or labor in connection with the installation of such improvements. The form of the <br />improvement security shall be subject to the approval of the City Attorney. Improvement security shall be <br />reduced or released by City only in the manner provided by the Subdivision Regulations of City. No <br />change, alteration or addition to the terms of this Agreement or the plans and specifications accompanying <br />the same shall in any manner affect the obligation of those providing improvement security pursuant to this <br />Agreement. <br />14, Maintenance Security. Prior to initial acceptance of any of the work constructed hereunder or <br />the release of any of the securities required under Paragraph 13., hereof, Subdivider shall furnish the City a <br />TRACT MAP 7264 <br />SUBDIVISION IMPROVEMENT AGREEMENT (PUBL[C IMPROVEMENT) <br />G:A_LD\_Tract Map & Parcel Map\TM7264\SUBIMFI.AGR.doc <br />PAGE 5 QF 16 <br />