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26 <br />LA515\163\1077757.v2 <br />survey by the City, the City may release 100 percent, or $0, of the Security associated <br />with subdivision grading. This Security reduction does not include amounts related to <br />erosion and sedimentation control. <br /> <br />B. Up to 75 percent of the Security associated with the itemization on Exhibit B may be <br />released upon completion of the following key milestones of the project as determined <br />by the City Engineer: <br />1. Construction Categories 2 and 3: The amount of $ 281,250 may be released <br />when all sanitary sewer and watermain utilities have been installed, all testing <br />and televising has been successfully completed, sanitary sewer as-built inverts <br />have been verified, and the utilities are considered ready for use by the City <br />Engineer. <br />2. Construction Categories 4 and 5: The amount of $388,125 may be released <br />when all streets, sidewalks, and storm sewer have been installed, televised <br />and 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 final <br />wear course. <br />3. Construction Categories 6--10 and 15--18: The amount of $58,688 may be <br />released when the public Subdivision Improvements are accepted by the City <br />Engineer and the City Council, including all improvements in categories 6-10 <br />and 15-18: (1) bituminous wear course and sidewalks; (2) trails; (3) bio <br />retention and infiltration facilities; (4) street lighting; (5) street and traffic signs; <br />(6) all private utilities; (7) iron monuments for lot corners have been installed; <br />(8) turf is established and all erosion and sedimentation control has been <br />removed; (9) turn lanes and off-site public improvements; (10) the required