(a) Registration of any Contractor or Builder shall be accompanied by a License Bond in the penal amount of ten thousand dollars ($10,000) payable to the Village of LaGrange and conditioned upon the faithful observance or all building/zoning regulations in effect while the work is being performed or services rendered by the registrant.
(b) When evidence discloses that the registrant and/or licensee has refused, failed or neglected to correct or abate violation of any applicable code or ordinance in performance of work done pursuant to a Certificate of Registration/Licensing within in a reasonable time after having been notified by the Village of LaGrange, the Village of LaGrange may require the registrant to furnish a performance bond in the amount of ten thousand dollars ($10,000) guaranteeing full and faithful compliance by the applicant with all provisions of any applicable code or ordinance of the Village whenever the applicant for registration named as the principal on such bond refuses, neglects or fails to correct or abate such violation within a reasonable time set by the Village of LaGrange. (Ord. 99-1008. Passed 11-18-99.)