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13. Improvement Security. Concurrently with the execution hereof Subdivider shall <br />furnish City: <br />(a) Improvement security in the sum of TWO MILLION ONE HUNDRED <br />SEVENTY-FIVE THOUSAND DOLLARS ($2.175.000.00), which sum is equal to one hundred <br />percent (100%), of the estimated cost of constructing the "required improvements" and the cost of <br />any other obligation to be performed by Subdivider hereunder, securing the faithful performance of <br />this Agreement. <br />(b) Separate improvement security in the sum of TWO MILLION ONE <br />HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($2,175.000.00), which sum is equal to <br />one hundred percent (100%) of the estimated cost of constructing the required improvements, <br />security payment to the contractor, his subcontractor and to persons furnishing labor, materials or <br />equipment to them for the construction of the required improvements, and for the payment of <br />amounts due under the Unemployment Insurance Act with respect to such work or labor in <br />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 <br />by City only in the manner provided by the Subdivision Regulations of City. No change, alteration <br />or addition to the terms of this Agreement or the plans and specifications accompanying the same <br />shall in any manner affect the obligation of those providing improvement security pursuant to this <br />Agreement. <br />F: S ROBTSLND',TM6810-3`SUBIMT -'.AGR <br />Page 7 of 22 <br />