(A) Improvements.
(1) A maintenance guarantee, if required by the LCDOT, shall be submitted by the permittee to the County Engineer upon satisfactory completion of all improvements and release of the performance guarantee. The term of the maintenance guarantee shall be for two years following completion, approval, and acceptance of the improvements. All failures that occur during the two-year period shall be corrected by the permittee and restored to a satisfactory condition, subject to the approval of the County Engineer. The amount of the maintenance guarantee shall, at a minimum, equal 15% of the original amount of the performance guarantee. This requirement may be waived upon review by the County Engineer if deemed unnecessary. The County Engineer shall be, and is hereby authorized to act for the county in all matters relating to maintenance guarantees.
(2) A maintenance guarantee shall be in the form of an irrevocable letter of credit for all major access, including any major temporary access, or designated freeway access. All maintenance guarantees shall be payable to the Lake County Treasurer, delivered to LCDOT and originate from a bank or surety/insurance company that satisfies the requirements of § 90.172.
(B) Default. If the permittee fails to restore to satisfactory condition the pavement or other improvements, within the specified time, or shall perform the work unsuitably as determined by the County Engineer, or for any other cause whatsoever shall not carry on the restoration in a suitable manner, the County Engineer shall give notice to the permittee and the permittee's bank or surety, if any. Said notice shall specify the corrective measures involved. If the permittee, within a period of ten days after said notice, does not proceed in accordance therewith, the County Engineer shall draw on the maintenance guarantee to have the work completed in accordance with this chapter, the permit, and the terms of the maintenance guarantee. The County Engineer shall deliver any funds drawn upon to the Lake County Treasurer and request deposit in the appropriate fund.
(Ord. 19-1061, passed 7-9-2019)