(A) Security required. The applicant shall provide security for the performance of its obligations pursuant to this chapter. The security shall be in a form required by the city, including a letter of credit, cash, or escrow deposit, and all in a form and substance that shall save the city free and harmless from any and all actions, claims, suits or liability as a result of the applicant's performance of work under or in connection with its NRMP. This security, running to the city, shall be conditioned to pay the city for any cost and expense incurred by the city in bringing the subject property into compliance with the approved natural resources management plan, and/or the cost and expense of repairing any highways, streets or other public ways within the city, made necessary by the special burden resulting from the hauling and transporting thereon by the applicant in the removal or placement of rock, dirt, sand, gravel, clay or other like material. The city's costs and expenses shall include any engineering, legal or administrative expenses.
(B) Amount of security. The amount of security shall be 125% of the estimated cost to accomplish compliance with the approved natural resources management plan, or $2,000, whichever is greater, in addition to any other security performance required by any other regulation in this code. The estimated cost shall be subject to approval by the city. Notwithstanding the foregoing, the amount of security for projects that disturb an area of less than one acre in size on an individual lot or parcel on which a one-family or two-family dwelling exists and will remain to exist under the permit shall be in the amount(s) as duly adopted by City Council resolution.
(C) Release of security. The security may be retained by the city until all conditions and requirements of the NRMP have been met and permanent stabilization has been installed and confirmed by the city to be effectively in place. No security or any portion thereof will be released if the project is not substantially completed. If noncompliance is found, the city may retain that portion of the security equal to the cost of bringing the project into compliance with the approved natural resources management plan.
(D) City remedy. If compliance with the approved natural resources management plan is not accomplished within the allowable time period, the city may bring the project into compliance by use of the security.
(E) Exemptions. The city shall be exempt from the requirements of this section.
(Ord. 633, passed 10-9-97; Am. Ord. 864, passed 6-11-09; Am. Ord. 1036, passed 12-14-17)