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Section 12.04.070 Street, etc., excavations - Generally; permit; bond. No person shall make or cause to be made, or help, aid or assist another person make, any excavation on any public street, highway, alley or other public place, or any easement or right-of-way, before a written permit to make the excavation is issued by the director of public works after application therefor is made. The applicant shall pay a filing fee in the mount of fifty dollars ($50.00) to the director of public works. The amount of the filing fee may be adjusted by the director of public works from time to time to reflect the average cost of the actual time expended in the administration, inspection and superintendence of such work. Before such permit is issued, the applicant shall deposit with the director of public works a sum of cash, and shall file with the director of public works a continuing bond with good and sufficient sureties payable to the city, both conditional upon the faithful performance of all the requirements of the permit and the law, the restoration of the public street, highway, alley or other public place, easement or right-of-way in as good a condition as it was before the excavation was made. The amount of the deposit and bond shall be sufficient, in the judgment of the director of public works, to ensure the faithful performance of such conditions, and in no case shall the deposit be less than the degradation amount provided for in this section nor the bond be less than one thousand dollars ($1,000.00). All cash so deposited shall be kept in a special fund in the city depository and shall he repaid after all deductions, if any, have been made by the director of public works to satisfy such conditions and pay a degradation amount to the city equal to the number of square feet of the excavation cut multiplied by one dollar and fifty cents ($1.50). The degradation amount may be adjusted by the director of public works from time to time to reflect changes in the average cost to repair or maintain a public street, highway, alley or other public place, easement or right-of-way earlier than would be required if the excavation or disturbance had not occurred and caused accelerated depreciation. Upon completion of the work to the satisfaction of the director of public works, the director of public works shall authorize the termination of the bond. If the excavation work is not commenced within thirty (30) days after the issuance date of the permit, or if the work is suspended or substantially abandoned for a period of thirty (30) days after the time of commencing the work, the permit shall become invalid unless an application to extend this time is received prior to the expiration of the period and the director of public works grants a time extension for good cause. All excavation work must be completed by the expiration date specified in the permit, which shall be set based upon the amount of time the director of public works deems necessary to complete the excavation work, provided that the director of public works may grant an extension of the expiration date for good cause. The permit and all approved plans and specifications shall be available at the excavation site at all times, and shall be produced for the director of public works upon request.