Reso 1997-046 to 050 - Laserfiche WebLink

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. � k 11. Extension; Condition. The granting of any extension may be conditioned upon Subdivider providing City with increased Inspection Fees and new or amended surety bonds in amounts increased to 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 C4, 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 final 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 City: (a) Improvement security in the sum of TWO HUNDRED NINETY-TWO THOUSAND DOLLARS ($222&00.00), which sum is equal to one hundred percent (1001/o), of the estimated cost of constructing the "required improvements" and the cost of any other obligation to be performed by Subdivider hereunder, securing the faithful performance of this Agreement. (b) Separate improvement security in the sum of TWO HUNDRED NINETY- TWO THOUSAND DOLLARS ($292900.00), 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 TRACT MAP 6532 MARINA VISTA - PHASE 4 SUBDIVISION IMPROVEMENT AGREEMENT C:\MAPS\TM6532\SUBIWAG.DOC C