The failure to exercise any right granted by a variance within the time limits provided, or the discontinuance of the exercise of any right heretofore or hereafter granted by a variance for a continuous period of twelve (12) months, shall constitute an abandonment of such variance, and such rights shall lapse, and the property affected thereby shall be subject to all the provisions and regulations of this chapter applicable to the zone in which such property is classified by this chapter at the time of such abandonment. (1962 Code § 10-840; amd. Ord. 95-O-2239, eff. 7-7-1995)