(a) Either the owner of the property or the contractor performing the work on such project shall post sufficient bond to assure that the terms and conditions of this Chapter shall be met, and that the site shall be properly restored in accordance with Sections 1329.03(a) and (b), such bond to be in the form of a surety or maintenance bond, escrow account, irrevocable letter of credit, or a cash deposit.
(b) Performance Bonds provided for under this section shall be posted in amounts equal to the cost of work to be performed, but no bond shall be posted for a demolition in an amount less than five thousand dollars ($5,000). (Ord. 1770-10. Passed 7-22-10.)