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13.3 General Requirements for All Improvement Security. <br />A. If any of the Blomquist Improvements or Non- <br />Blomquist Improvements security is a corporate surety bond <br />and, in the reasonable opinion of City, any surety or sureties <br />thereon become insufficient, Developer shall renew or replace <br />any such surety with good and sufficient surety or sureties within <br />ten (10) days after receiving written demand thereof from City. <br />B. Improvement security consisting of corporate <br />surety bonds will be kept on file with the City Engineer. If a <br />corporate surety bond is replaced by another approved bond, <br />the replacement will be filed with the City Engineer and made a <br />part of and incorporated into this Agreement. Upon filing and <br />approval by the City Engineer of a replacement bond, the former <br />improvement security will be released. <br />C. Modifications of the Improvement Plans and <br />related specifications, and modifications of the Non-Blomquist <br />Improvements or Blomquist Improvements, as applicable, not <br />exceeding ten percent (10%) of the original Estimated Cost of <br />Non-Blomquist Work or Estimated Cost of Blomquist Work, as <br />applicable, will not relieve or release any improvement security <br />furnished by Developer pursuant to this Agreement. If any such <br />modifications exceed ten percent (10%) of the Estimated Cost of <br />Non-Blomquist Work or Estimated Cost of Blomquist Work, as <br />applicable, Developer will furnish additional improvement <br />security for, performance, warranty, and payment, as required <br />by Subsections 13.1 and 13.2 above, for one hundred percent <br />(100%) of the revised Estimated Cost of Non-Blomquist Work or <br />Estimated Cost of Blomquist Work, as applicable. <br />D.The City's approved bond forms are attached <br />hereto as Exhibits B, C and D, attached hereto and incorporated <br />by reference. <br />14. Partial Reduction or Release of Improvement Security. Partial releases or <br />reductions in Developer's improvement security may be authorized prior to City's <br />acceptance of all the Non Blomquist Improvements or Blomquist Improvements, as <br />applicable, required hereunder, as provided in this Section 14. Upon acceptance of all or <br />any specified category of the Improvements by the City Council and upon request of <br />Developer, the improvement security may be reduced or released as follows: <br />REV: 01-21-2021 PR <br />A. The security for performance will be released <br />upon the final completion of the Non- Blomquist Work or <br />Blomquist Work, as applicable, City's acceptance of the Non- <br />Blomquist Improvements or Blomquist Improvements, as <br />ATTY/AGR.2021.010/1548 Maple LLC (Page 12 of 29) <br />