The construction bond shall contain the following endorsement in substantially the following form: “It is hereby understood and agreed that this bond may not be canceled by the surety, nor the intention not to renew be stated by the surety, until sixty (60) days after receipt by the city from the surety, by registered mail, of written notice of the surety’s intent to cancel or not to renew. A copy of the construction bond with this endorsement shall be filed with the city. (Ord. 205 § 3, 2001)