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

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 permit. There is filed accordingly:

(i) Cash in the amount of $ :

(ii) An Irrevocable Letter of Credit in the amount of $ or

(441) Security offered by the Permittee and accepted by the Municipality in the amount of $ .

for the purpose of

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 fail 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 shall be paid over to the Permittee.

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

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.