After placing the deposits described in Section 1301.04 and 1301.05 in the name of the developer, the Clerk Treasurer shall notify the Village Administrator in writing of such action. Deposits required by Sections 1301.04 and 1301.05 shall be maintained as such that when the balance of the fund is reduced to less than twenty percent (20%) of the deposit, the Clerk- Treasurer shall notify the developer in writing to provide additional funds to return the balance to the amount required. If such funds are not deposited within five (5) working days, the Clerk- Treasurer shall give written notification to the Village Administrator, Zoning Inspector or Mayor who shall issue a stop work order on all reviews or construction.
(Ord. 2012-15. Passed 10-8-12.)