909.07 FAITHFUL PERFORMANCE BOND.
   (a)   Requirements. Each applicant, upon the receipt of a permit, shall provide the City with a surety bond to guarantee the faithful performance of work authorized by a permit granted pursuant to this Article. The amount of the bond shall be one hundred percent (100%) of the estimated cost of restoring the opening; provided, however, that in no event shall the bond furnished be in an amount less than one thousand dollars ($1,000). If the permittee contemplates requesting more than one (1) permit per year as required by this Article, the Manager may require the permittee to furnish one (1) bond as above in such amount as the Manager deems necessary. Said bond must be written by a reputable surety company licensed to do business in the State of West Virginia and must be approved by the City Attorney as to form.
   (b)   Default in Performance. Whenever the Manager shall find that a default has occurred in the performance of any term or condition of any permit, written notice thereof shall be given to the principal and to the surety of the bond. Such notice shall state the work to be done, the estimated cost thereof and the period of time deemed by the Manager to be reasonably necessary for the completion of such work.
   (c)   Completion of Work.  
      (1)   After receipt of such notice, the surety must, within the time therein specified, either cause the required work to be performed or, failing therein, pay over to the City the estimated cost of doing the work as set forth in the notice. Upon receipt of such monies, the Manager shall proceed by such mode as he deems convenient to cause the required work to be performed and completed, but no liability shall be incurred therein other than for the expenditure of the said sum in hand therefor.
      (2)   In the event of any default in the performance of any term or condition of the permit for the work, the surety or any person employed or engaged on his behalf, or the Manager or any person employed or engaged on his behalf, shall have the right to go upon the premises to complete the required work or make it safe.
      (3)   No person shall interfere with or obstruct the ingress or to egress from such premises by any authorized representative or agent of any surety or of the City engaged in completing the work required to be performed under the permit or in complying with the terms or conditions thereof.
   (d)   Term. The term of each bond posted shall begin upon the date of the posting thereof and shall end upon the receipt by the permittee of a certificate of final inspection from the Manager. (Ord. 95-02. Passed 2-9-95.)