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SubO. 4. <br /> <br /> (al <br /> <br />(b) <br /> <br />(c) <br /> <br />(Al <br /> <br />If, after one (Il year from being granted Site Plan <br />approval the Plan as permitted by the approval shall <br />not have been initiated, then such approval shall <br />become null and void unless a request by petition for <br />an extension of time nas been made to and granted by <br />the City Council. Such extension shall be requested <br />in writing thirty (30) days before the expiration of <br />the original Site Plan approval. There shall be no <br />charge for the ftltng of such petition. <br /> <br />(B) <br /> <br />The request for extension shall state facts showtng <br />good faith attempt to complete or utilize the use <br />permitted in the Site Plan approval, Such petition <br />shall be presented to the City Council for a <br />decision. <br /> <br />(c) <br /> <br />The time Itmlt established by this subparagrap~ (3) <br />may, at the discretion of the ~ounctlm be extended <br />for not more than one (1) year by Ordinance or <br />Resolution duly adopted. <br /> <br />St.re Improvement PerFormance Agreement ana.~uret~. <br /> <br />Upon City Council approval of a Site Plan and prior to the <br />issuance of building pemtts or initiation of work on the <br />proposed improvement or development, the developer shall <br />execute a'Performance Agreement setting out site improvement <br />items and terms of completion of said items. The Performance <br />Agreement and any surety required thereln must be approved by <br />the City Attorney. <br /> <br />Any surety requtrea by the Performance Agreement shall ~e <br />noncancellaDle and shall guarantee conformance and compliance <br />with the conditions of the site plan approval, the Performance <br />Agreement and the Ordinances of the City. <br /> <br />The City shall hold the surety for SUCh period of time as set <br />forth in the Performance Agreement~ <br /> <br />(1) The surety may only be released by the City Council. <br /> <br />(2) Periodically, the amount of the surety may De reduced Dy <br /> the City Counctl. <br /> <br />(3) Reduction and release actions wt11 only be initiated after <br /> proper request has been made by the developer. <br /> <br /> <br />