(a) Upon the construction of all the improvements required in this chapter, and the approval of the plat and the acceptance of the dedication of streets as provided in Section 1242.10, building permits may be issued by the Building Inspector.
(b) If, after construction of all underground improvements and installation of the temporary pavement according to grade, the same is approved by Council and bond is given as provided in subsection (c) hereof, building permits may be issued by the Building Inspector upon proof from the Mayor that such bond has been given and approved.
(c) The bond required in subsection (b) hereof shall be a suitable surety bond, acceptable to the Mayor as to sufficiency of surety and to the Law Director as to form, in an amount equal to one hundred percent of the Engineer's estimate of the cost of installing and completing the permanent pavement and the cost of maintaining the temporary pavement. Said bond shall be given to the Village according to terms by which the principal shall be bound, at his or her cost and expense, to maintain such temporary pavement, and to install and complete the permanent pavement, in accordance with the plans, profiles and specifications as set forth herein, to the satisfaction of the Engineer and as approved by Council. Further, such bond shall indemnify and save harmless the Village from all suits and actions of every name and description brought against the Village, its Council or any official of the Village for or on account of any injury or damage to any person or property arising from or growing out of the unimproved conditions of the streets, shall indemnify and save harmless the Village from any suits and expenses for any royalties, infringements and patents involved in the construction of any improvement, and shall defend any and all suits and actions of whatever kind brought against the Village for any and all liens, charges, claims, demands, losses, costs and damages of whatever kind or nature. Such bond shall be filed with the Clerk/Treasurer.
(Ord. 61-58. Passed 10-7-58.)