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The Department of Community and Economic Development shall have the discretion to require a bond, which will ensure compliance with the mitigation plan if activity related to the protection of the critical area(s) (e.g., monitoring or maintenance) or construction is scheduled to take place after the issuance of the City’s permit. The bond shall be in the form of a surety bond, performance bond, assignment of savings account, or an irrevocable standby letter of credit guaranteed by a financial institution with terms and conditions acceptable to the City Attorney. The bond shall be in the amount of 125 percent of the estimated cost of the uncompleted actions or construction or the estimated cost of restoring the function and values of the critical area that are at risk, whichever is higher. The term of the bond shall be two years, or until the additional activity or construction has been completed and passed the necessary inspections, whichever is longer. [Ord. 4525 § 1, 2021; Ord. 3911 § 2, 2009; Code 1970 § 28.12.200. Formerly 28.12.200.]