COM 1480.016 2006-2008 - Laserfiche WebLink

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(b) Amount of bond. The amount of the bond shall be based on the number of cubic yards of material in excavation, fill, or stockpiling, whichever is the greatest volume. The amount of the bond shall be computed as set forth in the following schedule: Volume of Material Permit Bond 10,000 cubic yazds or less .............................. $8 per cubic yard. Over 10,000-100,000 cubic yards ...............$80,000 plus $3 per cubic yard for each additional cubic yazd in excess of 10,000. Over 100,000 cubic yards ..............................$350,000 plus $1 per cubic yard in excess of 100,000. (c) At the option of the applicant, the applicant may file a bond in an amount equal to the cost of all work and services required to complete all of the work under the grading or stockpiling permit as approved by the director of public works. Cost estimates prepared by the permittee shall be subject to approval of the director of public works to determine the exact amount of the bond. (d) Conditions. The bond shall be conditioned to be payable to the County upon failure of the permittee to complete all of the required work within the specified time. The director of public works shall collect the moneys from the bond and complete the necessary work to control soil erosion and sedimentation or all unfinished work required by the permit. The parties executing the bond shall be firmly bound to pay for this entire cost. Any remaining sum should be returned to permittee. (e) Additional conditions. Each bond shall provide that the surety shall be held and firmly bound unto the County for so long as the following conditions have not been met: (1} The permittee shall comply with all of the terms and conditions of the permit to the satisfaction of the director of public works; (2) The permittee shall complete all of the work authorized under the permit within the time limit specified in the permit; and (3) The surety company shall not terminate or cancel said bond until notified in writing by the director of public works of any termination or cancellation. (f) Period and termination of bond. The term of each bond shall begin upon the date of issuance of the permit and shall remain in effect until the completion of the work to the satisfaction of the director of public works. An amount equal to one-third of the bond may be retained for a period of six months after completion. Such completion shall be evidenced by a certificate signed by the director of public works. In the event of failure to complete the work or failure to comply with all of the conditions and terms of the permit, the director of public works may order the work to be completed as required by the permit and to the satisfaction of the director of public works. The surety executing such bond or the cash depositor, shall continue to be firmly bound under a continuing obligation for the payment of all necessary costs and expenses that may be incurred or expended by the County, in causing any and all of such required work to be done, and said surety and the permittee assents to the completion of the work even though it is performed after the time allowed in the permit. Upon completion of such work by the County, the bond shall be terminated. In the case of a cash deposit, such a deposit or any -10-