(A) Guarantee: Before a permit is issued, the owner shall provide the village with a certified check or cashier's check, negotiable securities, letter of credit, or a surety bond, payable to the village treasurer in an amount as established by Title 1, Chapter 20, “Fees, Fines, Insurance, Guarantees, and Regulatory Measures”, in relation to the cost of improvements as estimated by the owner and approved by the village engineer, to assure the satisfactory installation of said improvements as outlined and contained in the approved plans and specifications. If the owner posts a surety bond, it shall have good and sufficient surety thereon, and be approved by the village attorney. Until official acceptance of the work, the owner shall be responsible for all maintenance of all required improvements.
(B) Certificate Of Insurance: Any person performing work under this section shall take out and maintain during the construction of the project such commercial general liability insurance in an amount established by Title 1, Chapter 20, “Fees, Fines, Insurance, Guarantees, and Regulatory Measures” combined single limit per occurrence for bodily injury, personal injury, and property damage and an amount as established by Title 1, Chapter 20, “Fees, Fines, Insurance, Guarantees, and Regulatory Measures” aggregate as shall protect him, the village and the village's representatives from claims from liability and property damage which may arise from construction of this project. The village shall be furnished certificates of insurance issued by the companies carrying the risk, which said certificates shall be in form and substance satisfactory to and approved by the village. (Ord. 95-2684, 9-5-1995; amd. Ord. 2021-4921, 9-20-2021)