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<br />3. That pursuant to Section 267 of Code of the City of Sunny Isles Beach, the City Manager <br />and lor hislher designee in review of any application, may continue to refer the subject <br />application presented to it to such engineering, planning, legal, technical, or <br />environmental consultant or professional(s), employed by the City, as the Manager shall <br />deem reasonably necessary to enable him/her to review such application as required by <br />law. Charges made by such consultants or professionals shall be in accord with the <br />charges customarily made for such services in Miami Dade County, and pursuant to a <br />contractual agreement by and between the City and such consultants and shall be a <br />continuing obligation of the Applicant. Charges made by the City shall be in accord with <br />the hourly rates charged by such consultants or hourly rates of employed professionals <br />and shall be paid within 30 days of submission of City voucher. <br /> <br />4 At the time of submission of any application or thereafter, it is required that an escrow <br />account be established, from which withdrawals shall be made to reimburse the City for <br />the cost of professional review services, if any. The Applicant shall then provide funds to <br />the City for deposit into such account in an amount to be determined by the City <br />Manager, based on hislher evaluation of the nature and complexity of the application. <br />The Applicant shall be provided with copies of any City voucher for such services as they <br />are submitted to the City When the balance in such escrow is reduced to one-third (113) <br />of its initial amount, the Applicant shall deposit additional funds into such account to <br />bring its balance up to the amount of the initial deposit. If such account is not <br />replenished within thirty days (30) after the applicant is notified, in writing, of the <br />requirements for such additional deposit, the City may suspend its review of the <br />application. An application shall be deemed incomplete if any amount shall be <br />outstanding. A building permit or Certificate of Use and Occupancy shall not be issued <br />unless all professional review fees charged in connection with the Applicant's project <br />have been reimbursed to the City. Once all pertinent charges have been paid, the City <br />shall refund to the applicant any funds remaining on deposit. <br /> <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, PropertylCasualty 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 />Ocean IV Final Resolution <br /> <br />6 <br />