(a) (1) Each person applying for a discharge permit pursuant to the provisions of this section shall also deliver to the village the sum of $10,000 in cash, or such other security as may be acceptable to the director of public works. Such cash security shall be delivered to the director of public works not less than seven days before the commencement of the work shall begin. Within 30 days after the conclusion of the work, the director of public works shall determine whether the applicant performed all work in accordance with the directions and specifications of the village, with due care and skill, and in conformity with any other terms or conditions of the discharge permit.
(2) The village may retain that portion of the cash security necessary to compensate the village for any loss or claim resulting from such failure to the extent that the director of public works determines that the applicant or its agents failed to perform the work in accordance with:
A. The requirements of the village;
B. The terms of the permit; and
C. Due care and skill.
(3) Should the amount of the cash security prove to be inadequate for the village to recover its total losses or to satisfy all claims against it in connection with the discharge permit, the applicant shall remain liable to the village for the entire amount of the losses. To the extent that the cash security exceeds the amount of the losses of or claims against the village (if any) that the director of public works determines to have arisen out of an applicant's work pursuant to a discharge permit, the excess shall be returned to the applicant.
(b) The applicant further agrees to indemnify and hold harmless the village and its officers, officials, employees, agents, attorneys and representatives for any loss, damage, expense, claim or cost of every nature and kind arising out of, or in connection with the work to be performed, when such loss, damage, expense, claim or cost is due to the negligence of the applicant or its agents. In addition, the return of any portion or all of the cash security by the village shall not release the applicant from any of its obligations or liabilities under the discharge permit.
(Ord. No. 91-19-1860)