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to the City. When the balance in such escrow is reduced to one-third (1/3) of its initial <br /> amount, the applicant shall deposit additional funds into such account to bring its balance <br /> up to the amount of the initial deposit. If such account is not replenished within thirty-days <br /> (30) after the applicant is notified, in writing, of the requirements for such additional deposit, <br /> the City may suspend its review of the application. An application shall be deemed <br /> incomplete if any amount shall be outstanding. A building permit or Certificate of Use and <br /> Certificate of Occupancy shall not be issued unless all professional review fees charged <br /> in connection with the applicant's project have been reimbursed to the City. Once all <br /> pertinent charges have been paid, the City shall refund to the Applicant any funds <br /> remaining on deposit. <br /> 18. The Applicant shall furnish payment and performance bond in an amount determined by <br /> the Building Official to ensure Applicant's performance of public improvements required <br /> pursuant to site plan approval and in accordance with recommendations of the Building <br /> Official after review of construction plans submitted based on development approval <br /> granted herein. Any such bond shall be issued by a surety having a minimum rating of A- <br /> 1 in the Best's Key Rating Guide, Property/Casualty Edition, shall be subject to the <br /> approval of the City, and shall provide that "this bond may not be cancelled or allowed to <br /> . lapse until 30 days after receipt by the City, by certified mail, return receipt requested, of <br /> written notice from the issuer of the bond of intent to cancel or not to renew". As <br /> improvements are made the City, within its discretion, may reduce or eliminate the bond <br /> 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 City <br /> may have under this Resolution, in law or in equity. <br /> Other Conditions: <br /> 19. 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 /> 20. That the approved site plan shall remain valid for a period of 24-months from the date of <br /> approval. If no building permit is issued within the 24-month time period, the site plan shall <br /> be considered null and void and of no force and effect. <br /> 21. That the Applicant complies with all City Ordinances, County, State and Federal Laws and <br /> Regulations applicable to development and permit approvals. <br /> (END) <br /> 11 <br /> U:IPLANM 4O&ZONING20081ZONING HEARING-APPLICATIONS\2015 APPLICATIONPZ2015-1017550 COLLINS AVENUE I <br />