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AFAIK its not scheduled maintenance,
The conventional wisdom is since you have to open up everything around it to change the timing belt, why not change the water pump while you are in there. THe cost of the water pump is about $60-70. Not a lot and the labor is pretty much paid for by the timing belt replacement.
If the water pump breaks after you have had the timing belt replaced (or any other time) you will have to pay the $500 labor charge again so to just avoid that whole mess they recommend you replace it when you do the belt.
Though Ive never had a honda water pump go bad on any one of the 4 previous hondas Ive owned (all over 100k), Ive also always replaced the H2O pump with the belt.
Cheap insurance I suppose.
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