Whenever the Building Official determines that a default has occurred in the performance of any term or condition of a relocation permit, he or she shall give written notice of the default to the permittee, and to the surety, if a surety bond has been posted, and to the financial institution issuing the instrument of credit if an instrument of credit has been posted. The notice of default shall state the work to be done, the estimated cost thereof and the period of time determined by the Building Official to be reasonably necessary for the completion of the work. If a surety bond has been pushed, the surety shall cause the required work to be performed within the time specified in the notice and, if the work is not performed, the Building Official shall cause the required work to be done by contract or otherwise, in his or her discretion, and the City Attorney shall commence the necessary legal proceedings to recover the cost of performing the work plus 10%. If the security is in the form of a cash deposit, an instrument of credit or negotiable bonds, and the permittee does not perform the required work within the time specified in the notice of default, the Building Official shall use the funds available from the security and cause the required work to be done by contract or otherwise, in his or her discretion. Upon completion of the work, the balance, if any, of the cash deposit or monies made available pursuant to an instrument of credit or negotiable bonds, after deducting therefrom the cost of performing the work, plus 10%, shall be returned to the permittee or his or her successors or assigns.
(1995 Code, § 4.32.100)