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<br />e <br /> <br />e <br /> <br />(c) Each b~nd or irre~ocabl~' ietter of credit .shali ~e ren~wabl~. 'e.very fiy.e years.. with <br />e~idenc~ o(.r~newal to be furnished,to:the city. <br /> <br />, (d) Failure 'of the owner of a&lulti~f~'nilliY development to obtaih, and keep current the <br />bond or letter-of credit shall be cause ,; for~ revocation" of.' the . ':owner's 'certificate of <br />- ".'. . _. . I ,t' ~ . . .:. . "'~.". . . , :. :.. h , <br />occupancy a8d/or. zo(1iDg, permit. <br /> <br />(e) Each entify seeking tp:,con'str!..lCf a:multi-famH.y:deveIQpment:is also required to <br />purchase and file with the' ,City ;prc;)Qf o()nsuraric~ lor cbmp'fe,hensive general liability <br />policy naming the City 'of La' Porte as ;;,an . additi.'onal named,l'nsured in the amount, of <br />$,1.,000,000.00' for theNe of 'the. ~tr~ctures o.f. th~ :~:~:~'rt'me~t, .complex and/or the <br />,apartment compl,ex itself. <br />