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DOC #2025-0257659 Page 3 of 19 IA-4. I (6/21) C. The issuance by a court of competent jurisdiction pursuant to the State Eminent Domain Law of an order of possession. Developer shall comply in all respects with the order of possession. Nothing in this Section shall be construed as authorizing or granting an extension of time to Developer. 5. Security. Developer shall at all times guarantee Developer's performance by furnishing to City and maintaining good and sufficient security on forms approved by City for the purposes and in the amounts as follows: A. To assure faithful performance of this Agreement in an amount of 100% of the estimated cost of the Improvements; and B. To secure payment to any contractor, subcontractor, person renting equipment, or furnishing labor and materials for the Improvements, a bond in the amount of 50% of the estimated cost of the Improvements; and C. To guarantee or warrant the Improvements for a period of one (1) year following acceptance thereof by City against any defective work or labor done or defective materials furnished in the additional amount of 10% of the estimate cost of the Improvements. The securities required by this Agreement shall be kept on file with the City Clerk. The terms of the security documents referenced in this Agreement are incorporated into this Agreement by this reference. If any security is replaced by another approved security, the replacement shall: (1) comply with all the requirements for security in this Agreement, (2) be provided to the City Engineer for filing with the City Clerk, and upon filing (3) be deemed to have been made a part of and incorporated into this Agreement. Upon provision of a replacement security with the City Engineer and filing of a replacement security with the City Clerk, the former security may be released. 6. Alterations to Improvement Plans. A. Any changes, alterations or additions to the Improvement plans, not exceeding 10% of the original estimated cost of the Improvements, which are mutually agreed upon by City and Developer shall not relieve the Improvement security given for faithful performance of this Agreement. In the event such changes, alterations or additions exceed 10% of the original estimated cost of the Improvements, Developer shall provide Improvement security for faithful performance as required by Section 5 of this Agreement for 100% of the total estimated cost of the Improvements as changed, altered or amended, minus any completed partial releases allowed by Section 8 of this Agreement. B. Developer shall construct the Improvements in accordance with City standards in effect at the time of the Effective Date of this Agreement. City reserves the right to modify the standards applicable to the Project and this Agreement when necessary to protect the public safety or welfare or comply with applicable Federal or State law, or City ordinances. If Developer 320573246v.2 I:\cmo\Agreements\LBA Public Improvement Agreement-FY2526-030.docx-Revised-jl