In addition to the fee set forth in § 8-2-3, the applicant shall furnish the village with a performance bond in the amount of $5,000 to ensure the restoration of the public street or sidewalk to its original condition or grade. In the event the Building Inspector believes the cost of restoration would exceed the sum of $5,000, he or she shall obtain a cost estimate from the village’s consulting engineer, and the performance bond shall be in the amount of $5,000 or such estimate, whichever is greater. In lieu of a bond, the applicant may deposit with the Treasurer the sum of $5,000, or the estimated cost, whichever is greater, as security for performance of the work.
(Ord. 349, passed 5-21-1996)