Before a permit shall be granted to any person to open any street, public ground, roadway, sidewalk, or alley, for any purpose, that person shall pay to the Clerk the estimated cost of restoring the same to as good a condition as before it shall have been so opened, with a fair additional sum as margin for unforeseen costs and damages, as determined by the Board of Trustees. The permit applicant will remove the pavement in accordance with the specifications of the street department, including providing barricades and on paved streets sawing the pavement and providing, a six-inch lip of undisturbed soil on the sides of the trench. The estimated cost determined by the Board of Trustees shall include the cost to the village of inspecting any work done under the permit, removing excavated materials after the person obtaining the permit has made the excavation, backfilling all excavated areas, and restoring the same to its original condition. When the excavation has been made and the utility involved has been connected and inspected, the person making the excavation shall notify the street department. The Street Department shall, within a reasonable time thereafter, place around the opening, any barricade, flares, and warning devices necessary for the protection of the public as required by § 97.016 and shall assume responsibility for the continuation of the work, and shall notify the holder of the permit of the action.