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6. 1. B. - Page 8 <br />(i) landscaping and irrigation system complete <br />Q) utility joint trenching <br />(k) all conditions of approval for Tentative Subdivision Map entitled <br />"Vesting Tentative Map, 333 Main Street," heretofore issued for said <br />subdivision, <br />and all other work, improvements, or construction required by or mentioned in the <br />abovementioned plans and specifications, conditions of permits and all construction, <br />appurtenances and improvements necessary as reasonable determined by the City <br />Engineer to complete the aforementioned improvements, both within and outside of the <br />abovementioned subdivision. <br />2. IMPROVEMENT SECURITY <br />A. Prior to the City's execution of this Agreement, Owner shall provide as security <br />to the City: <br />(1) For Performance: Security in an amount equal to one hundred <br />percent (100 %) of the Estimated Total cost of the Improvements and Grading as <br />required herein. With this security, the form of which shall be subject to City's prior <br />approval, the Owner assures faithful performance under this agreement. The amount of <br />said security shall be One Million, Three Hundred Sixty -Eight Thousand and No /100 <br />Dollars ($1,368,000.00). <br />(2) For Payment: Security in an amount equal to one hundred percent <br />(100 %) of the Estimated Total Cost of the Improvements as required herein. With this <br />security, the form of which shall be subject to the City's prior approval, the Owner <br />guarantees payment to the contractors, subcontractors, and persons renting equipment <br />ATTY /AGR/2012.014 /SUBDIVISION (IMPROVEMENT AGREEMENT 333 MAIN STREET <br />REV:VR 01/30/12 <br />Page 3 of 14 <br />