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Such improvements must be installed no later than sixty days after the issuance of the final Certificate of Use and Occupancy for the final unit in the development. Should the developer seek the issuance of a Certificate of Use and Occupancy for the last of the twenty-one buildings prior to fulfillment of this condition, a performance bond committing construction of the improvement or the payment of $10,000 shall be posted in a form acceptable to the City Attorney's Office. Alternative improvements valued at $10,000 may be substituted by majority vote of the River Pointe Section 5 Homeowners Association with the approval of the Director of Community Quality and Planning Services. (p) The developer will construct a boating facility as illustrated in the preliminary site plan dated April 11. 2000 for the use of the River Pointe Section 5 Homeowners Association. Such improvements must be installed no later than sixty days after the issuance of the final Certificate of Use and Occupancy for the final unit in the development. Alternative improvements valued at $7,500 may be substituted by majority vote of the River Pointe Section 5 Homeowners Association with the approval of the Director of Community Quality and Planning Services. Should the developer seek the issuance of a Certificate of Use and Occupancy for the last of the twenty-one buildings prior to fulfillment of this condition, a performance bond committing construction of the improvement or the payment of $10,000 shall be posted in a form acceptable to the City Attorney's Office. (q) The developer shall establish a restricted escrow account for the enhancement of the existing recreation facility located on River Pointe Drive and shall pay $100 into the account at closing on every Section 5 unit sold. Funds accumulated in the escrow account shall periodically be transferred to the Board of Directors having oversight of the facility. The final transfer shall take place at the closing for the sale of the final unit in Section 5. (r) The applicant must comply with all requirements of federal, state and local government laws and regulations and shall obtain and maintain in effect all required permits and licenses. 3. EXPIRATION OF PERMIT: Unless extended as provided under Section 40- 115 of the Code of the City of Portsmouth, Virginia (1988), the group housing use permit shall expire for any portion of the approved project for which building permits have not been issued if the applicant fails to apply for all building permits for the entire project within one year of the adoption of this resolution. 4. REVOCATION OF PERMIT: Violation of any of the above conditions may serve as grounds for revocation of the permit by the City Council.