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<br />5. The Applicant shall furnish a payment and performance bond in an amount determined <br />by the Building Official to ensure Applicant's performance of public improvements <br />required pursuant to the Site Plan approval, in accordance with recommendations of the <br />Building Official after review of construction plans submitted and based on the approval <br />provided in this Resolution. Any such bond shall be issued by a surety having a <br />minimum rating of A-I in the Best's Key Rating Guide, Property/Casualty Edition, shall <br />be subject to the approval of the City, and shall provide that "this bond may not be <br />cancelled or allowed to lapse until 30 days after receipt by the City, by certified mail, <br />return receipt requested, of written notice from the issuer of the bond of intent to cancel <br />or not to renew". As improvements are made the City, within its discretion, may reduce <br />or eliminate the bond amount. These rights reserved by the City with respect to any <br />construction bond established pursuant to this section are in addition to all other rights <br />and remedies the City may have under this Resolution, in law or in equity. <br /> <br />C. Other Conditions <br /> <br />1. That the Applicant shall obtain a Certificate of Occupancy and a Certificate of Use from <br />the City upon compliance with all terms and conditions. The Certificate of Occupancy <br />and Certificate of Use shall be subject to cancellation upon violation of any of the <br />conditions. <br /> <br />2. That the Site Plan approval 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 />3. That the Applicant shall comply with all City Ordinances. <br /> <br />4. That this Resolution and all conditions contained herein shall be binding upon Applicant, <br />its successors and/or assigns. <br /> <br />5. That all median openings are approved by the City prior to commencement and that the <br />median openings meet the requirements of the Sunny Isles Beach Median Closing Traffic <br />Study as approved by City Resolution 2003-598. <br /> <br />NO BUILDING PERMIT SHALL BE ISSUED (EXCEPT FOR DEMOLITION AND <br />SALES CENTER) UNLESS THE APPLICANT HAS SUBMITTED ALL DOCUMENTS <br />REFERRED TO UNDER THIS RESOLUTION AND SHALL HAVE PAID ALL <br />IMPACT FEES, BONUSES AND TRANSFER OF DEVELOPMENT RIGHTS TO THE <br />CITY (IF APPLICABLE) OR OTHERWISE PRODUCED EVIDENCE THAT THE <br />PERMITTED PRIVATE DEVELOPMENT RIGHTS AS SET FORTH IN SECTION III <br />HEREINABOVE HA VE BEEN TRANSFERRED PROFESSIONAL FEES SECTION 267 <br />OF CODE OF THE CITY OF SUNNY ISLES BEACH AND ALL OTHER FEES DUE <br />AND OWING PURSUANT TO THE APPLICABLE LAND DEVELOPMENT <br />REGULATIONS. <br /> <br />04-Z-85 SEA <br /> <br />7 <br />