Security and a legally binding agreement, in a form acceptable to the Zoning Administrator and the City Attorney, shall be deposited with the City to guarantee completion of the project within a period of time specified by the Zoning Administrator. Amount of the security shall be approved by the Zoning Administrator, and shall be based on a licensed contractor's estimate to complete the move and any other requirement of the conditions of approval. If the origination site is within the City, the amount of the security shall be sufficient to also guarantee the origination site shall be brought into conformance with the applicable provisions of Section 12-28A.02 prior to completion of the building(s) moved. The security shall be released by the City to the applicant following satisfactory completion of the building(s) moved in compliance with applicable zoning ordinances, building codes and conditions of approval of the administrative use permit. Upon written request by the applicant to the Zoning Administrator, the Community Development Department may authorize the release of a portion of the performance security upon the departments' acceptance of the satisfactory completion of a part of the improvements as the work progresses. In no case, however, shall the security be reduced to less than 10% of the total improvement security given for the faithful performance. The amount of reduction of the security shall be determined by the Community Development Department, but in no event shall the Community Development Department authorize a release of the improvement security which would reduce security to an amount below that required to guarantee the completion of the improvements and any other obligation imposed by this title, or the conditions of the administrative use permit; and