[Ord. 918, 6/19/2002; as amended by Ord. No. 1074, 11/14/2018;
and by Ord. No. 1094, 9/15/2021]
Upon filing a permit application, each applicant shall provide
the Borough with an acceptable cash bond or corporate surety bond
to guarantee faithful performance of the work authorized by a permit
granted pursuant to this Part and maintenance of the same. The amount
of the bond shall be 110% of the estimated cost of restoring the street
opening. The term of the bond shall begin upon the date of posting
thereof and shall terminate two years from the date of the permittee's
receipt of a certificate of final inspection from the Borough Manager.
If the permittee anticipates requesting more than one permit per year
as required by this Part, he may furnish one continuing corporate
surety bond to guarantee faithful performance in such amount as the
Borough Manager deems necessary. The amount of such bond shall be
in relation to the cost of restoring pavement cuts to be made by the
permittee throughout the year.
[Ord. 918, 6/19/2002; as amended by Ord. No. 1074, 11/14/2018]
Whenever the Borough Manager shall find that a default has occurred
related to any street opening or condition of the permit, including
all maintenance requirements, written notice thereof shall be given
to the principal and to the surety of the bond. Such notice shall
state the work to be done, the estimated cost thereof, and the period
of time deemed by the Borough Manager to be reasonably necessary for
the completion of such work.
[Ord. 918, 6/19/2002]
After receipt of such notice the surety must, within the time
therein specified, either cause the required work to be performed
or, failing therein, indemnify the Borough for the cost of doing the
work as set forth in the notice.
