Franklin Zoning Ordinance

21 324 Chapter Performance Agreement Period PERFORMANCE AGREEMENTS Franklin Zoning Ordinance Effective December 30, 2019 and whose deposits are insured by either the Federal Deposit Insurance Corporation or National Credit Union Administration. D. The financial institution shall permit the letter of credit to be presented for collection at a place physically located within Williamson or Davidson County, Tennessee. Alternatively, the financial institution may choose to provide a means for facsimile presentation, under the following conditions: 1. The financial institution must operate a minimum of one branch or office open to the public, located in Williamson or Davidson County, Tennessee; 2. Presentation of draw documents by the beneficiary shall also be permitted via overnight courier service to the financial institution’s department where issuance of letters of credit transpires; 3. Facsimile numbers for presentation shall be printed in the letter of credit, with a statement that modifications to, or discontinuationof, facsimilenumbers shall be provided the beneficiary via amendment; and 4. A means of backup shall be provided in the letter of credit, for anoccasionwhen the facsimile number is inoperable for any reason. Backup information in the letter of credit shall include either: a. A physical location address in Williamson or Davidson County, Tennessee, to be accessed only if the facsimile number is inoperable for any reason; or b. The financial institution shall print in the letter of credit that if for any reason the facsimile number noted in the letter of credit is inoperable at a time when the beneficiary is attempting to present draw documents, then draw documents shall be considered timely when the financial institution is presented with a facsimilemachine transmittal showing an attempted presentation by the beneficiary, along with satisfactory draw documents. 21.2.3 Monitoring Improvements The applicant shall have a registered professional engineer or landscape architect, depending on the type of improvements, involved in the installation or construction phase of the project, to monitor construction and determine conformity with approved plans and specifications. 21.3 Performance Agreement Period A. The performance agreement shall remain in force in its original amount until improvements are completed and accepted by the Department of Planning and Sustainability or appropriate City departments, whichever is applicable. B. The period within which each required improvement shall be completed shall not exceed one year from the date of the fully executed performance agreement; however, extensions and reductions may be approved by the Department of Planning and Sustainability or the FMPC, as applicable.