(A) The applicant shall also give a $5,000 bond or 5% of project, whichever is greater, conditioned that he or she will:
(1) Suitably guard and protect any excavation or obstruction;
(2) Defend, save, keep harmless and indemnify the village and from all actions, suits, costs, damages and expenses including any injuries or damages received or sustained by any person by or from acts or omissions of the applicant or his or her employees in doing such work;
(3) Complete such work as expediently as possible, and when completed, notify the village of such fact so that the Superintendent of Public Works or his or her designated representative may see that the same has been promptly and properly restored to its former condition;
(4) Guarantee that such work is to reconstructed, refilled and restored in a good and workmanlike manner, and of good and proper material, and that the same shall not deteriorate, cave-in or require repair or reconstruction for a period of at least two years from the time of approval of such work; and
(5) Upon the giving of notice to that effect, pay to the village, for use of same, any and all costs and expenses to which the village may have been put, paid or become liable for in refilling, repairing and replacing the work on the surface or pavement of such right-of-way, street, alley or sidewalk, or other public place if the work shall be done by the village, or it becomes necessary for the village to do so, the cost in all cases to be certified by the Superintendent of Public Works or his or her designated representative.
(B) Such bond, with sureties, shall be approved by the President of the Village Board of Trustees or his or her designated representative.
(Prior Code, § 6-502)