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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 parr 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 EIGHTY-FIVE THOUSAND FOUR <br />HUNDRED DOLLARS ($85,400.00), which sum is equal to one hundred percent (100%), of the estimated <br />cost of 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 EIGHTY-FIVE THOUSAND FOUR <br />HUNDRED DOLLARS ($85,400.00), which sum is equal to one hundred percent (100%) of the estimated <br />cost of constructing the required improvements, security payment to the contractor, his subcontractor and to <br />persons furnishing labor, materials or equipment to them for the construction of the required improvements, <br />and for the payment of amounts due under the Unemployment Insurance Act with respect to such work or <br />labor in connection with the installation of such improvements. The form of the improvement security shall <br />be subject to the approval of the City Attorney. Improvement security shall be reduced or released by City <br />only in the manner provided by the Subdivision Regulations of City. No change, alteration or addition to <br />the terms of this Agreement or the plans and specifications accompanying the same shall in any manner <br />affect the obligation of those providing improvement security pursuant to this 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 />maintenance and repair security in a form acceptable to the City Engineer in the amount of EIGHT <br />TRACT MAP 7293 <br />SUBDIVISION IMPROVEMENT AGREEMENT (PUBLIC IMPROVEMENT) <br />\~ES\SYS\USER\ENGINEER\_LD\ Maps\VTM 7293\SUBIMPIAGR.doc <br />PAGE 5 OF 16 <br />