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.010 A cash bond or surety bond for each grading permit shall be required in an amount established by the City Engineer and in a form approved by the City Attorney in the sum of thirty percent of the estimated cost of the work conditioned upon the faithful performance of the work within the time specified by the City Engineer or within any extension thereof granted by the City.
.020 Whenever the City Engineer shall find that a default has occurred in the performance of any term or condition of any permit, written notice thereof shall be given to the principal and to the surety of the bond. Such notice shall state the work that shall be done to rectify the default, the estimated cost thereof and the period of time deemed by the City Engineer to be reasonably necessary for the completion of the work.
.030 After receipt of such notice of default the surety shall, within the time therein specified, either cause the required work to be performed or, failing therein, pay to the City the estimated cost of doing the work as set forth in the notice, plus an additional sum equal to ten percent of the estimated cost, but not to exceed the principal sum of the bond. Upon the receipt of such moneys the City Engineer shall proceed by such mode as he deems convenient to cause the required work to be performed, but no liability shall be incurred therein other than for the expenditure of the sum in hand therefor.
.040 If a cash bond has been posted, notice of default as provided by the preceding paragraph shall be given to the principal, and if compliance is not had within the time specified, the City Engineer shall proceed without delay and without further notice or proceedings whatsoever to use the cash deposited, or any portion of such deposit, to cause the required work to be done by contract or otherwise at the discretion of the City Engineer. The balance, if any, of such cash deposit shall, upon the completion of the work, be returned to the depositor, or to his successors or assigns, after deducting the cost of the work plus ten percent thereof.
.050 In the event of any default in the performance of any term or condition of the permit for the work, the surety or any person employed or engaged on its behalf, or the City Engineer or any person employed or engaged on his behalf, shall have the right to go upon the premises to complete the required work or make it safe.
.060 No person engaged in completing the work required to be performed under the permit or in complying with the terms or conditions thereof, shall interfere with or obstruct the ingress or egress to or from any such premises by any authorized representative or agent of any surety or of the City.
.070 The term of each bond posted shall begin upon the date of the posting thereof and shall end upon the completion to the satisfaction of the City Engineer of all the terms and conditions of the permit for the work. Such completion shall be evidenced by exoneration by the City Engineer upon request by the surety or principal. When a cash bond has been posted the cash shall be returned to the depositor or to his successors or assigns upon the exoneration of the bond except any portion thereof as may have been used as hereinabove provided. (Ord. 3411 § 2 (part); April 1, 1975.)