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when all streets, sidewalks, and storm sewer have been installed and <br />tested, and have been found to be complete to the satisfaction of the City <br />Engineer including all corrective work for any identified punch list items and <br />including verification of storm sewer as -built inverts, but not including the <br />final wear course, <br />3, Construction Categories 6-10 and 14-17: The amount of $140,476 may be <br />released when all remaining Developer's obligations under this Agreement <br />have been completed including: (1) bituminous wear course; (2) street <br />lighting and private utilities; (3) trails; (4) bio retention facilities; (5) iron <br />monuments for lot corners have been installed; (6) all financial obligations <br />to the City satisfied; (7) the required "record" plans in the form of the City <br />standards have been received and approved by the City; and (8) the public <br />Subdivision Improvements are accepted by the City Engineer and the City <br />Council. <br />C. Twenty-five percent of the original Security amount, excluding grading and <br />landscaping improvements shall be retained until: (1) all Subdivision <br />Improvements have been fully completed and accepted by the City, <br />including all corrective work and warranty punch list items; (2) all financial <br />obligations to the City have been satisfied; and (3) the warranty period has <br />expired. <br />D. Twenty-five percent of the original Security amount associated with <br />Landscaping Improvements shall be retained by the City until: (1) all <br />Landscaping Improvements have been fully completed and accepted by <br />the City, including all corrective work and warranty punch list items being <br />completed by the Developer; (2) all financial obligations to the City have <br />been satisfied; and (3) the warranty period has expired. Notwithstanding <br />26 <br />LAS 15-93-75382 Lv3 <br />