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<br /> <br />new or amended surety bonds in amounts increased to reflect increases in the cost of <br />constructing the required improvements that have occurred prior to the granting of the extension, <br />and the cost of additional inspection services. <br /> 12. No Waiver by the City, Final Acceptance. Inspection of the work and/or <br />materials, or approval of work and/or materials inspected, use of the work by the public as public <br />right-of-way, or statement by any officer, agent, or employee of the City indicating the work <br />complies with the requirements of this Agreement, shall not relieve the Owner from the <br />obligation to fulfill the Agreement as prescribed herein. Acceptance of any part or stage of said <br />improvements shall not be final until a written notice of acceptance of all the improvements shall <br />have been delivered to Owner. <br /> 13. Improvement Security. Concurrently with the execution hereof Owner shall <br />furnish City: <br /> (a) Improvement security in the sum of __________________ DOLLARS <br />($_____), which sum is equal to one hundred percent (100%), of the estimated cost of <br />constructing the required improvements and the cost of any other obligation to be performed by <br />Owner hereunder, securing the faithful performance of this Agreement. <br /> (b) Separate improvement security in the sum of _______________ DOLLARS <br />($___________), which sum is equal to one hundred percent (100%) of the estimated cost of <br />constructing the required improvements, security payment to the contractor, his subcontractor <br />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 <br />Act with respect to such work or labor in connection with the installation of such improvements. <br />The form of the improvement security shall be subject to the approval of the City Attorney.