(a) Deposits. Upon receipt of an application it shall be the duty of the Building Inspector to estimate the expense that will be incurred in removing and replacing any electric wires, street lamps or pole lines belonging to the Village or any other property of the Village, the removal and replacement of which will be required by reason of the moving of the building through the Village, together with the cost of materials necessary to be used in making such removals and replacements. Prior to issuance of the permit the Building Inspector shall require of the applicant deposits as set forth in Section 1262.01(f)(7) of the Planning and Zoning Code.
(b) Insurance. In addition to the deposits required under subsection (a) hereof, the applicant shall be required to furnish insurance as provided in Section 1262.01(f)(7) of the Planning and Zoning Code.