The applicant shall be required to execute and deliver unto the Borough an agreement, or its performance and labor and materials payment bond(s) with approved surety, or both, as a prerequisite to the issuance of any such permit, in an amount to be determined by the appropriate issuing Borough official, the amount of which shall equal the estimated cost of the work, for the purpose of indemnifying the Borough for any costs, damages or expenses incurred or estimated as the result of the restoration of such Borough street and right-of-way, which is the subject of said application. Upon completion of restoration, the applicant shall be required to execute and deliver to the Borough an agreement or its maintenance bond with an approved surety, or both, as its guarantee and warranty against defects regarding said restoration for a period of one year from the date of acceptance by the Borough of said restoration work. At the expiration of the period of one year after the completion of the resurfacing of the street, alley, sidewalk or curb of the Borough occasioned by the openings authorized by the permit or permits, the Borough Engineer shall order the return of all cash deposits and bonds posted if the conditions which they cover have been performed. In the event the Borough has been compelled to make repairs after notice as above recited, the cost of such repairs shall be withheld from such cash deposit and the bond shall be subject to payment of the Borough for such amount. It shall be incumbent upon the holder of the permit to give written notice to the Borough Manager of the expiration of the one-year period.
(Ord. 971, 4/13/2023)