Whenever the Resource Management Agency Director or authorized representative determines that a default has occurred in the performance of any term or condition of a grading permit, a written notice shall be given of such 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 Resource Management Agency Director or authorized representative to be reasonably necessary for the completion of such work. If a surety bond has been posted, the surety shall cause the required work to be performed within the time specified in the notice and, if said work is not performed, the Resource Management Agency Director or authorized representative shall cause the required work to be done by contract or otherwise, as may be appropriate, and the County Counsel shall commence the necessary legal proceedings to recover the cost of performing the work plus ten percent (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 Resource Management Agency Director or authorized representative shall use the funds available from such security and cause the required work to be done by contract or otherwise, as may be appropriate. Upon completion of said work, the balance, if any, of such 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 ten percent (10%), shall be returned to the permittee or his successors or assigns.
(Added by Ord. No. 3457, effective 4-17-14)