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(A) No permit shall be issued unless the applicant has filed with the office of the village clerk, a bond in the sum of $5,000, with good and sufficient sureties thereon satisfactory to the village, conditioned so as to indemnify and hold harmless the village, its officers and employees against all claims for damages, costs and expenses in any way connected with or occasioned by reason of the making of or construction of any excavation or tunnel, whether or not the claims, costs, and expenses are due or are claimed to be due to any acts or omissions of the officers and employees of the village.
(B) At the time of making an application for a permit hereunder, any applicant shall make a cash deposit in the sum of $250 where the excavation or tunnel is to be made in an unpaved area or in the sum of $500 where an excavation or tunnel is to be made in a paved area; the deposit is to be paid to the village clerk and turned over and held by the village treasurer.
(C) In the event that after the work is completed it becomes apparent that there is any defect in the work which would create a hazard to pedestrian or vehicular traffic, the applicant or person, firm, or corporation doing the work shall be notified in writing of the defect. If the defect is not corrected within 24 hours from the receipt of the written notice, the proper village officials shall cause the correction of the defect and deduct the cost of the correction from the cash deposit made, pursuant to the provisions of this chapter.
(D) If, after construction of the excavation or tunnel, it becomes apparent upon inspection that the surface of the ground or pavement has not been damaged, the full cash deposit shall be returned to the applicant.
(Ord. 72-0-203, passed 7-10-1972)