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A concurrency encumbrance letter shall be valid for 120 days, referred to as the encumbrance period, and shall expire at the end of the encumbrance period unless the applicant reserves capacity or is issued a building permit during the encumbrance period. (Ord. 2014 § 1 (Exh. A), 2009; Ord. 1946 § 4, 2005; Ord. 1654 § 2, 1996; Ord. 1633 § 1, 1996).