Each applicant for a permit required by this title other than utility and telecommunication companies shall file a performance security in the form of cash in the amount of two thousand dollars ($2,000.00) to guarantee faithful performance of the work covered by the permit. This security may also be used by the village to complete the work in accordance with the permit or perform certain minimum requirements as determined by the village engineer in the event that the permittee fails to complete said work.
Notwithstanding the above, no cash performance security shall be required under this section for:
A. Any municipal corporation; or
B. Any homeowners' association organized as a not for profit corporation if the estimated cost of the work, as approved by the village engineer, is less than ten thousand dollars ($10,000.00); or
C. Tree and shrub installation; or
D. The removal of a driveway; or
E. The replacement of a driveway so long as the replacement driveway is of the same dimensions and constructed in the same location as the previous driveway. (Ord. G-981, 9-25-2012)