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<br />deposit. <br /> <br />6. The Applicant shall furnish payment and performance bond in an amount determined by the <br />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-I <br />in the Best's Key Rating Guide, Property/Casualty Edition, shall be subject to the approval <br />of the City, and shall provide that "this bond may not be cancelled or allowed to lapse until <br />30 days after receipt by the City, by certified mail, return receipt requested, of written notice <br />from the issuer of the bond of intent to cancel or not to renew". As improvements are made <br />the City, within its discretion, may reduce or eliminate the bond amount. These rights <br />reserved by the City with respect to any construction bond established pursuant to this <br />section are in addition to all other rights and remedies the City may have under this <br />Resolution, in law or in equity. <br /> <br />C. OTHER CONDITIONS <br /> <br />1. That the Applicant obtains a Certificate of Occupancy and a Certificate of Use from the City <br />upon compliance with all terms and conditions. The Certificate of Occupancy and Certificate <br />of Use shall be subject to cancellation upon violation of any of the conditions. <br /> <br />2. 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 /> <br />3. That the Applicant complies with all City Ordinances, County, State and Federal Laws and <br />Regulations applicable to development and permit approvals. <br /> <br />4. That all median modifications be approved by the City prior to commencement and that the <br />median modifications meet the requirements of the Sunny Isles Beach Median Closing <br />Traffic Study. <br /> <br />5. That the Applicant submit voluntarily and freely the $20,000 donation ($10,000 donation to <br />the City's Annual Jazz Festival and $10,000 donation to the charitable foundation established <br />for the Norman S. Edelcup Sunny Isles Beach K-8) as part of the mitigation impact to waive <br />the beach access easement requirement. The total mitigation amount shall be paid within <br />three (3) working days of approval of the site plan application. <br /> <br />6. That this Resolution and all conditions contained herein shall be binding upon Applicant, its <br />successors and/or assigns. <br /> <br />NO BUILDING PERMIT SHALL BE ISSUED UNLESS THE APPLICANT HAS <br />SUBMITTED ALL DOCUMENTS REFERRED TO UNDER THIS RESOLUTION AND <br />SHALL HAVE P AID ALL IMP ACT FEES, BONUSES, AND TRANSFER OF <br />DEVELOPMENT RIGHTS TO THE CITY (IF APPLICABLE) OR OTHERWISE <br /> <br />11.2. 17749 Collins Avenue <br /> <br />6 <br />