Deposits collected by the Building Inspector pursuant to § 8-2-4 shall be turned over to the Treasurer and shall be kept separate from other village funds. When the Building Inspector has been informed that the restoration has been inspected and found satisfactory, the deposit shall be refunded to the depositor or the performance bond released, as the case may be. If the restoration is found to be unsatisfactory or is not completed by the applicant in three days after written notice from the Building Inspector or Superintendent of Streets, the entire deposit or performance bond proceeds or so much thereof as may be necessary, shall be used to complete the restoration, and such portion of the deposit, if any, as is unnecessary to complete the restoration shall be refunded to the depositor. If the deposit is insufficient to complete the restoration, the depositor shall be required to pay the additional amount necessary to complete the restoration.
(Ord. 349, passed 5-21-1996)