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approval, the City Council may require a performance bond <br />where there are required improvements. Any such <br />performance bond shall be subject to the following: <br />1. Except in the case of non - income producing <br />residential property, upon approval of a <br />conditional use permit the City shall be provided <br />with a surety bond, cash escrow, certificate of <br />deposit, securities, or cash deposit prior to the <br />issuing of building permits or initiation of work <br />on the proposed improvements or development. Said <br />security shall be non - cancelable and shall <br />guarantee conformance and compliance with the <br />conditions of the conditional use permit and the <br />ordinances of the City. <br />2. The security shall be in the amount of one and one - <br />half (1 1/2) times the City Engineer's or City <br />Building Official's estimated costs of labor and <br />materials for the proposed improvements or <br />development. Said project can be handled in stages <br />upon the discretion of the City Engineer and <br />Building Official. <br />3. The City shall hold the security until completion <br />of the proposed improvements or development and a <br />certificate of occupancy indicating compliance with <br />the conditional use permit and ordinances of the <br />City has been issued by the City Building Official. <br />4. Failure to comply with the conditions of the <br />conditional use permit or the ordinances of the <br />City shall result in forfeiture of the security. <br />5. Any bond or security which has been forfeited to <br />the City as a result of failure by the applicant to <br />comply with the conditions of the conditional use <br />permit or the ordinances of the City shall be <br />deposited in the Little Canada General Fund. <br />E. Conditional Use Permit Revocation. Failure to comply <br />with the conditions of the conditional use permit or the <br />ordinances of the City shall result in the conditional <br />use permit being revoked by the City Council. <br />921.040. APPLICANT'S COSTS. The applicants shall pay to the <br />City all expenses incurred by the City relative to the processing <br />of applications for zoning ordinance text amendments and district <br />boundary amendments, including rezoning, conditional use permits, <br />variances, appeals, and planned unit developments, which expenses <br />shall include, but not be limited to, expenses for engineering, <br />planning, fiscal, administrative, and legal services. If said <br />-199- <br />Page 24 <br />