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In granting the variations of the Bylaws as specified in Clause 3 above,
the following conditions are imposed:

(a) The Municipality is holding security set out below to ensure
construction carried out has not created an unsafe condition due
to a contravention of the terms and conditions of this pernit.

There is filed accordingly:

(i) Cash in the amount of $ _- ;
(ii) An Irrevocable Letter of Credit in the amount of $

or | |
Security offered by the Permittee and accepted by the

Municipality in the amount of $ .

for the purpose of

(b>) Should any interest be earned upon the security, it shall accrue
to the Permittee and be paid to the Permittee if the security is
returned. A condition of the posting of the security. is that
should the permittee fall to carry out the works or services as
hereinabove stated, according to the terms and conditions of this
permit within the time provided, the Municipality may use the
security to complete these works or services by its servants,
agents or contractors, and any surplus shali be paid over, to the
Permittee. | | : a

(c) Should the Permittee carry out the works and services permitted
by this permit within the time set out above, the security shall.
be returned to the Permittee. . —_ _

an

The land described herein shall be developed strictly in accordance with
‘the terms and conditions and provisions of this permit and any plans and
specifications attached to this permit which shall form a part hereof.