A. Applications for building permits shall be accompanied by a bond in the amount of ten thousand dollars ($10,000.00), executed by a surety company authorized to transact business in the State of Illinois as surety on the bond, with the applicant as principal on the bond and the Village as beneficiary, and that of consumers dealing with the applicant, conditioned that the applicant shall faithfully perform the duties and in all things comply with this Code pertaining to the applied for building permit without causing damage to surrounding private or public properties. The bond shall remain in effect until the issuance of final inspection approval and/or final certificate of occupancy. (Ord. 2012-32, 7-23-2012)
B. Prior to the issuance of a permit, additional refundable bonds, if required, shall be deposited with the Village to assure compliance with applicable Village codes and ordinances. (Ord. 2009-42, 10-26-2009)