(A) Prior to start of constructing a building sewer, the owner and contractor shall obtain a permit from the village or its agent and pay an inspection and approval fee. The village and its agent shall be notified at least 24 hours prior to start of construction. The fee for said permit shall be $15.
(B) (1) Prior to construction and during the life of permits obtained in accordance with this section, all owners or contractors shall furnish to the village or its agent a satisfactory surety bond in the amount of $5,000 as security for the faithful performance of the work in accordance with the plans, specifications and permits and the village standards and furnish to the village or its agent a cash deposit in the amount of $500. Such bonds shall not be canceled by the owner, the contractor or the surety without first having given ten-days' written notice to the village or its agent. Cash deposits may be returned to the owner or contractor within ten days of receipt of written request therefor, except that no deposits will be returned, nor bonds canceled until such time as all outstanding permits have received final inspection and approval.
(2) Procedure for exercising the rights of the village or its agent, under the terms and conditions of the cash deposit and surety bond shall be as follows:
(a) 1. The cash deposit shall provide funds for emergency work and/or other such work as may be deemed necessary by the village or its agent, arising as a result of construction by the owner or contractor;
2. In the event that it becomes necessary for the village to expend funds for work arising as a result of construction by the owner or the contractor, then the cost of such work shall be deducted from the aforementioned cash deposit. If the cost of such work exceeds the cash deposit, then the owner or contractor shall within 30 days of the mailing of written notice thereof pay the village or its agent the entire amount of such costs;
(b) For other than emergencies, the owner or contractor shall have the right and opportunity to correct any deficiencies promptly before any deposit funds will be expended by the village or its agent;
(c) If, after being notified by certified mail of other than emergency deficiencies, the owner or contractor fails to correct such deficiencies within 30 days of notification, then the village or its agent shall cause the deficiencies to be corrected and bill the owner or contractor for such work;
(d) If, after 30 days of being notified the owner or contractor has not paid the village or its agent for costs arising from work done by the village or its agent to correct deficiencies resulting from the owner’s or contractor’s work, then the village or its agent shall exercise its rights under the terms and conditions of the cash deposit and/or surety bond.
(O.C. § 2.45)