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or statement by any officer, agent, or employee of the City indicating the work complies with the <br />requirements of this Agreement, shall not relieve the Subdivider from the obligation to fulfill the <br />Agreement as prescribed herein. Acceptance of any part or stage of said improvements shall not be <br />final until a written notice of acceptance of all the improvements shall have been delivered to <br />Subdivider. <br />13. Improvement Security. Concurrently with the execution hereof Subdivider shall <br />furnish City: <br />(a) Improvement security in the sum of of ONE HUNDRED THIRTY FOUR <br />• �._� � _._mil• M.1�_ __ �l ��1� ..- - � _ � _ � • ', � • 1 1 � � <br />equal to one hundred percent (100%), of the estimated cost of constructing the "required <br />improvements" and the cost of any other obligation to be performed by Subdivider hereunder, <br />securing the faithful performance of this Agreement. <br />(b) Separate improvement security in the sum of ONE HUNDRED THIRTY <br />FOUR THOUSAND AND THREE HUNDRED SEVENTY SIX Dollars ($134,376.00), which <br />sum is equal to one hundred percent (100%) of the estimated cost of constructing the required <br />improvements, security payment to the contractor, his subcontractor and to persons furnishing <br />labor, materials or equipment to them for the construction of the required improvements, and for <br />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 <br />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. <br />No change, alteration or addition to the terms of this Agreement or the plans and specifications <br />S:\TM6636\SUB1N4P1.AGR <br />n <br />