The company shall deposit $2,000 with the Fiscal Officer as a performance bond. This bond shall be forfeited to the village as liquidated damages if any of the provisions of this contract are not performed by the company, or if the company does not begin construction within one year of this chapter or complete construction within 18 months of this chapter.
(1997 Code, § 110.12) (Ord. 704-83, passed 1-10-1983)