Before any such relocation permit is issued, the applicant shall file in the office of the building official a faithful performance bond, commonly designated a relocation bond, in an amount at least ten percent more than the building official's estimated cost of the work required under the terms and conditions imposed by the building official. Such bond shall be in addition to the moving bond.
Said bond shall inure to the benefit of the city and shall guarantee that the required work shall be completed within ninety days of the date on which the building or structure is moved to its new location; provided, however, that such time may be extended by the building official upon written application showing good cause therefor. In lieu of said faithful performance bond, a cash deposit in the amount may be made with the building official.
(Ord. 2104 (part), 1962: prior code § 34.707)