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Building Official after review of construction plans submitted based on development <br />approval granted herein. Any such bond shall be issued by a surety having a minimum <br />rating of A-1 in the Best's Key Rating Guide, Property/Casualty Edition, shall be subject <br />to the approval of the City, and shall provide that "this bond may not be cancelled or <br />allowed to lapse until 30 days after receipt by the City, by certified mail, return receipt <br />requested, of written notice from the issuer of the bond of intent to cancel or not to renew". <br />As improvements are made the City, within its discretion, may reduce or eliminate the <br />bond amount. These rights reserved by the City with respect to any construction bond <br />established pursuant to this section are in addition to all other rights and remedies the <br />City may have under this Resolution, in law or in equity. <br />Other Conditions. <br />7. That the Applicant obtains a Certificate of Occupancy and a Certificate of Use from the <br />City upon compliance with all terms and conditions. The Certificate of Occupancy and <br />Certificate of Use shall be subject to cancellation upon violation of any of the conditions. <br />8. That the approved site plan shall remain valid for a period of 24 -months from the date <br />of the site plan modification approval. If no building permit is issued within the 24 -month <br />time period, the site plan shall be considered null and void and of no force and effect. <br />9. That the Applicant complies with all City Ordinances, County, State and Federal Laws <br />and Regulations applicable to development and permit approvals. <br />(END) <br />