The amount of the performance guarantee shall cover all construction costs, the applicant's engineering and platting costs, and the Village's engineering and inspection costs. The guarantees shall be in the following minimum amounts unless the applicant can show that certain of the costs have already been paid:
(A) Construction Cost:
1. One hundred thirty percent (130%) of the estimated construction cost approved by the Village Engineer, or
2. One hundred ten percent (110%) of a binding contract with a contractor who has qualified for the proposed work and who has provided a performance bond.
(B) Owner's Engineering and Platting Cost: At a cost verified by the engineer and surveyor.
(C) Village Engineering and Inspection Costs:
1. The minimum amount as required by Section 6-6-3(D). (Ord. 93-5, 5-24-93)