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14 The City may draw down the Security, upon five (5) business days prior written notice to Developer, for any violation of the terms of this Agreement the performance of which is expressly guaranteed by the Security. Amounts drawn shall not exceed the out-of-pocket amounts necessary to cure to the default. If the Security is drawn down, the proceeds shall be used to pay for the out- of-pocket costs necessary to cure the default. Tenant shall, from time to time, provide the City with evidence (which evidence may take the form of an architect’s or engineer’s certification accompanied by partial lien waivers for the work in question, or such other evidence as is reasonably acceptable to the City) that certain portions of the work secured by the Security have been completed and paid for as required by this Agreement, and upon receipt of such proof, the Security shall be reduced by an amount equal to ninety percent (90%) of the cost of such work. Ten percent (10%) of the amounts certified by the Developer's engineer or architect shall be retained as security until all improvements have been completed and all financial obligations to the City under this Agreement have been satisfied, at which time all remaining Security shall be released. 26. SUMMARY OF CASH REQUIREMENTS. The following is a summary of the cash requirements under this Agreement which must be furnished to the City prior to issuance of any development permits and execution of this Agreement by the City: Legal Expenses escrow $1,500.00 Engineering, City Administration $7,500.00 Snelling Avenue Trail Connection $200,000.00 Sanitary Sewer Charge (per Section 16 hereof) $402,911.60 Water Charge (per Section 17 hereof) $172,646.60 Residential Dedication (per Section 20 hereof) $450,000.00 Park Development (per Section 21 hereof) $773,500.00 Total Cash Requirements $2,008,058.20