(a) Upon the issuance of the permit required by Section 909.03 and prior to the commencement of any construction thereunder, the applicant therefor shall deposit with the City Manager the sum of one hundred dollars ($100.00) as a guarantee that the work under such permit shall be in accordance with the terms of this chapter and that upon the termination of the permit the area covered by the cutout will be restored to the condition existing prior to its construction.
(b) If the permit issued under this chapter is terminated by the City, the deposit made with the City Manager provided for in subsection (a) hereof shall be used to restore the parkway to the condition existing prior to its construction if the person placing the deposit with the City Manager fails to restore the parkway in accordance with the provisions of this chapter within ninety days.