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bond shall be at least one thousand dollars ($1,000.00). Any occupation/blockage of the right-of- way for four hours or longer shall result in a minimum deposit of two hundred fifty dollars ($250.00), and a minimum bond of three thousand dollars ($3,000.00). Utility companies with twenty-five million dollars ($25,000,000.00) in net assets and who do not have a history of permitting noncompliance within the City as defined by the director of public works shall not be required to provide construction performance bonds or liability insurance coverage. I. Issuance of Permit If the director of public works determines that the applicant has satisfied all requirements, the director of public works shall issue a right-of-way permit. The director of public works may impose conditions-upon the issuance of aright-of-way permit and the performance of the permittee in order to protect the public health, safety and welfare; to ensure the structural integrity of the fight-of-way; to protect the property and safety of other users of the right-of-way; and to minimize the disruption and inconvenience to the public. A fight-of-way permit shall have an effective date and an expiration date. Establishment of the expiration date shall be in the discretion of the director of public works, which discretion shall be reasonably exercised to achieve the City's policy of minimizing disruption of public fights-of-way. No permittee may excavate the fight-of-way beyond the date or dates specified in the fight-of-way permit unless the permittee makes a request for an extension of the right-of-way permit before the expiration of the initial permit and a new fight-of-way permit or permit extension is granted. Right-of-way permits issued shall be conspicuously displayed by the permittee at all times at the indicated work site and shall be available for inspection by the director of public works, other City employees and the public. J. Permitted Work-Hours The permittee shall comply with all the rules and regulations set forth by the director of public works. Work is permitted Monday thru Friday from 7:00a. m. until 5:00 p.m., unless permission is granted by the .director of public works for other work hours. K. Right-of-Way Repair and Restoration All earth, materials, sidewalks, paving, crossing, utilities, public improvements or improvements of any kind removed or damaged by the permittee shall be fully repaired or replaced promptly by the ROW-user at its sole expense and to the satisfaction of the director of public works. If the permittee fails to restore the right-of-way in the manner and to the condition required by the director of public works, or fails to satisfactorily and timely complete all restoration, the City may complete the work at the expense of the permittee, and the permittee and its surety shall be liable to the City for any and all cost incurred by the City by reason of such completion. Every ROW-user to whom a right-of-way permit has been granted shall guarantee for a period of four years the restoration of the right-of-way in the area where such ROW-user conducted excavation and performed the restoration. In the event the restoration is not completed within the time established by the director of public works, the permittee shall pay to the City the sum of one hundred dollars ($100.00) per day as liquidated damages, and not as a penalty, to be deducted from the deposit of the permit-tee, if sufficient. L. Stop Work Orders Any excavation, backfilling, repair and restoration, and all other work performed in the fight-of- way shall be done in conformance with the City's rules and standards as promulgated by the director of public works. 'The director of public works may issue a citation to the permittee or ROW-user for any work which does not conform to the applicable standards, conditions, code or terms of the permit. The director of public works may choose to inspect the ongoing permitted 6