(A) In the event any person, business, corporation or other entity shall fail to comply with the posting of the surety bond in the principal sum of $10,000, to assure compliance herewith, permits, as are provided for herein, shall not be issued until compliance is had.
(B) The permit holder will forfeit the performance bond under the following conditions:
(1) The permit holder fails to complete the work within the prescribed time and fails to acquire a new permit;
(2) The permit holder, after being duly notified, fails to take remedial action within three working days and complete the repairs within ten working days; and
(3) The permit holder fails to pay all charges and assessments within 45 days.
(Ord. 2-1988, passed 2-1-88)