A performance bond of five hundred dollars ($500.00) or a property bond shall be posted with the city prior to the issuance of the permit required in § 1020.01. However, unless the Public Services Coordinator has reason to believe that such work would result in an excessive nuisance to the public, the Public Services Coordinator may waive the bond requirement for sidewalks and driveway aprons. Upon the completion of restoration, pursuant to § 1020.04(d), the city shall return the performance bond. Failure to complete the restoration to the city’s satisfaction shall be just cause for the forfeiture of the bond to the city.