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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; (3) all financial obligations to <br />the City satisfied; (4) the required "record" plans in the form of the City <br />standards have been received and approved by the City; and (5) the public <br />Subdivision Improvements are accepted by the City Engineer and the City <br />Council. <br />4. Construction Categories 11, 12 and 13: The amount of $57,281 may be <br />released when landscaping Subdivision Improvements have been installed to <br />the satisfaction of the City including all corrective work for any identified <br />punch list items. <br />B. 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, including all <br />corrective work and warranty punch list items; (2) all financial obligations to the <br />City have been satisfied; and (3) the warranty period has expired. <br />C. Twenty-five percent of the original Security amount associated with landscaping <br />shall be retained by the City until: (1) all landscaping Subdivision Improvements <br />have 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 financial <br />obligations to the City have been satisfied; and (3) the warranty period has <br />expired. <br />D. In addition to the above project milestone based Security reductions, the <br />Developer may submit a written request and upon receipt of proof satisfactory to <br />the City Engineer that work is progressing in accordance with the approved Plans <br />28