The applicant for such tree preservation plan shall be obligated to replace any relocated or replacement tree for up to eighteen (18) months after planting. In the event a relocated or replacement tree dies or is in declining condition, any such tree shall be replaced by a four inch (4") dbh tree. The performance bond required by section 4-1-5 of this code shall be held by the village to secure this replacement obligation, among other purposes, and shall not be released until the end of said eighteen (18) month period, if this section is applicable. (Ord. 2007-845, 3-13-2007)