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<br />Created: 09/26/11 CH <br />Revised 11/02/11 AAD <br />Revised 11/1 0/11 H 0 <br />17. 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 <br />City may have under this Resolution, in law or in equity. <br /> <br />Other Conditions: <br /> <br />18. 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 /> <br />19. 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 <br />shall be considered null and void and of no force and effect. <br /> <br />20. That the Applicant complies with all City Ordinances, County, State and Federal Laws <br />and Regulations applicable to development and permit approvals. <br /> <br />21. That all median openings be approved by the City prior to commencement and that the <br />median openings meet the requirements of the Sunny Isles Beach Median Closing <br />Traffic Study as approved by City Resolution 2003-598. <br /> <br />(END) <br /> <br />U:\PLANNING&ZONING2008\zONING HEARING-APPLICATIONS\2011 APPLICATION\Z2011-04 PORSCHE <br /> <br />9 <br />