If the City Council grants a license with certain conditions, it may require the posting of a cash bond in an amount which it deems sufficient to assure performance of those conditions by the applicant. Failure of the applicant to comply with the conditions of the license may result in the forfeiture of the cash bond by the City Council after notification and hearing to the applicant. If the licensee complies with the conditions of the license, the cash bond shall be returned by the Clerk within 48 hours following expiration of the license.