The applicant shall be required to execute and deliver unto the borough an agreement, or its performance and labor and materials payment bond(s) with approved surety, or both, as a prerequisite to the issuance of any such permit, in an amount to be determined by the appropriate issuing borough official, the amount of which shall equal the estimated cost of the work, for the purpose of indemnifying the borough for any costs, damages or expenses incurred or estimated as the result of the restoration of such borough street and right-of-way, which is the subject of said application. Upon completion of restoration, the applicant shall be required to execute and deliver to the borough and agreement or its maintenance bond with an approved surety, or both, as its guarantee and warranty against defects regarding said restoration for a period of two years from the date of acceptance by the borough of said restoration work.
(Ord. 1078, passed 4-17-2012)