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6.1. F. - Page 33 would reduce such security to an amount belav+r that required to guarantee the compEetion of the act or work and any ot�er obligation impased by this Agr�ement. (2} Security for Pavment: Security furnished to secure payment to con�ractors, subco�tractors, and fo persons providing labor, materials or equipment shall, six (6j months afi�er acceptance af all of the Improuem�nts, be reduced ta ar� arr�ount equal to the total amaunt claimed by all cfaimants far whom lier�s have beer� fil�d and of which r�otiee has been gi�en to the City, plus an amaunt reasonably determined by �he City Engineer to be required to assure the per�ormance of any other obligatio�s secured by the security. The balar�ce of the security shall be release� u�on set#lement or refease of all claims and obligations for which the security was given. C. If Owner`s obligations relating to any Impro�emenfs a�� subject to the appraval of another go�ernmental agency, the City s�al� r�ot release the irnprovement security thereof until the obligatians are performed to the satisfaction of such other governmental agency. Such agency shalE have twa (2) mont�s after Owner's performance of the obligation to register its satisfaction or dissatisfaction. If at the end o� that period it E�as r�ot registered its satisfactior� or dissatisfactian, it shall be conclusively deemed that the Owner`s performance of the obfigatian was done fio its satisfaction. 4. INDEMNIFICAT[ON OF CITY BY OWNER A. Neither the City, nor i#s officers, agents and employe�s, shall be liable or responsible for any accident, injury, loss, or damage ta either proper�y or person attribu�able to or arisin� out af the constr�c�ion or installation af the Improvements. �wner shall indemnify, hold harmless and defend the City, its officers, agents and employees, from and agair�st ar�y and a[I losses, claims, costs, exper�ses, liabilities, damages, actions, causes of action and j�dgments, including reasanable attorneys' fees, arisir�g out of or attri�utable to Owner's perFormance un�er this Agreemen�. I B. Own�r's obliga�ions under tl�is Section 4 are not conditioned or dependent upon the City, or its O��ECEI"S ager�ts and employees, whether the City prepared, suppl�ed or re�iewed any lmprovement Plans or related specifications in eonnectior� with the S�bdi�ision ar the Impravements, or whetfi�er the City has insurance or vther indamr�ification covering any of these matters. C. Owner's obligation to indemnify, hold harmless and defend the City shail extend to injuries �o persor�s ar�d �amages to or a(isged taking of pro��rty resulting from the design or constructian of the Subdivision, and the Impro�ements required herein, and shall likewise extend ta adjacent pro�erty owr�ers asserting claims based upon the diversion of waters ca�sed by the �wner's design or construction of public drainage sys#ems, streets, and other public #acilities or impravemer�ts. The City's acceptanc� of the Irnprouements sha[! not constitute a� assumption by the City o� any res�onsibility or liability for any damage or allegec� taking of property referenced herein. City shall not be responsi�le or liable for the design or construetion o# the Subdivision or the ATTYIAGR1201'I.1341KENTFIEl.D 5UBQ1l/IS10lV REV:1210'il'{ 1 Page 4 of 8