Amount of and Reasons for Deposit. The Developer, shall, at the time of first applying for a building permit for a parcel of land forming a part of the Lands, deposit with the Township a Building Deposit, equal to the sum of $50,000.00 for all building permits to be issued to the Developer (up to a maximum of 50 permits/phase at any one time) where the Developer is a residential builder in this subdivision. The Building Deposit shall be in addition to any other securities posted by the Developer. To the extent that the Developer is a builder in this subdivision and the applicant for permits, this section 14.1 shall supersede the requirement to pay the building department charge as per Township of Southgate by-law 86-2014 & 43-2016. Where anyone other than the Developer applies for a building permit, or for each building permit issued to the Developer in excess of the maximum 50 permits/phase for which the initial $50,000.00 referred to above has been posted, or for each building permit that has yet to be closed with a final building inspection certification/release at or after the time that the Township issues Final Acceptances for a phase, the sum of $4,000.00 per permit (subject to section 14.3 herein) shall be posted or otherwise continue to be held, as the case may be, with the Township. Within thirty (30) calendar days following closing the final permit for that phase of the subdivision, the Building Deposit will be released to the Developer. The Building Deposit (in addition to any other securities posted by the Developer) is intended to ensure that:
Amount of and Reasons for Deposit. Each Builder within the Development, shall, at the time of first applying for each building permit for a parcel of land forming a part of the Lands, deposit with the Town a Building Deposit, equal to the sum of $2,000.00 per lot or block for all building permits to be issued to the Residential Builder in this subdivision. The Building Deposit shall be in addition to any other securities posted by the Developer. This section 14.1 shall supplement the requirement to pay the Grading and Damage Deposit required as per Town’s Building By-law 2019-18, but shall not require concurrent deposits under that By-Law and this Article 14. Within a reasonable time following the submission of an acceptable lot specific as-built grading plan and grading certificate, the Building Deposit will be released to the Builder. The Building Deposit (in addition to any other securities posted by the Developer) is intended to ensure that:
