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the above, the City may reduce the Security attributable to accepted <br />Landscaping Improvements by up to 38 percent after the first year of <br />acceptance by the City. The City may also further reduce the Security <br />attributable to accepted Landscaping Improvements by up to an additional <br />37 percent after the second year of acceptance by the City. The City will <br />retain the remaining 25 percent of the Security attributable to accepted <br />Landscaping Improvements until (1) all Landscaping Improvements have <br />been fully completed and accepted by the City, including all corrective work <br />and warranty punch list items being completed by the Developer; (2) all <br />financial obligations to the City have been satisfied; and (3) the warranty <br />period has expired. <br />E. It is the intent of the parties that the City at all times have available to it <br />Security in an amount adequate to ensure completion of all elements of the <br />Subdivision Improvements and other obligations of the Developer under <br />this Agreement, including fees or costs due to the City by the Developer. <br />To that end and notwithstanding anything herein to the contrary, all <br />requests by the Developer for a reduction or release of the Security shall <br />be evaluated by the City in light of that principle. <br />31 SUMMARY OF CASH REQUIREMENTS. The following is a summary of the cash <br />requirements under this Agreement which must be paid to the City prior to the execution of this <br />Agreement by the City: <br />Park Dedication: $170,400 <br />City Engineering Administration Escrow: $50,000 <br />TOTAL CASH REQUIREMENTS: <br />27 <br />LA515-93-753821A <br />$220,400 <br />