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<br />(3) The bond shall be in favor of and for the use and benefit ofthe city. <br /> <br />(4) The bond shall describe, by reference to the number of the application together <br />with such other brief descriptive matter as is necessary, the work proposed to be <br />done or to be covered by the SWQ permit in connection with which the bond is <br />gIven. <br /> <br />(5) The bond required by this section shall be conditioned that the work therein <br />referred to will be performed in strict and full accordance with the terms and <br />provisions of the SWQ permit, the SWQMP, and the plans and specifications <br />therein; and that if any of the work is not performed in accordance therewith, or if <br />any materials not in accordance therewith are used in the process of such work, <br />such failure and default shall be promptly remedied and any defective material or <br />work removed and replaced with material and by workmanship in accordance <br />with the terms of the SWQ permit, the SWQMP, and plans and specifications <br />therein without cost or expense to the city up to the sum of the bond. The bond <br />must guarantee materials and workmanship for a period of one year after the city's <br />initial inspection that confirms proper installation of the controls. <br /> <br />(6) The bond shall provide that the surety company will notify the city in writing 30 <br />days prior to a cancellation, nonrenewal, or material change in the policy. In the <br />case of nonrenewal or cancellation, the SWQ permittee shall then have 21 days <br />after the surety company's notice to the city to replace the coverage or the SWQ <br />permittee's SWQ permit shall be revoked after notice and the opportunity for a <br />hearing without further action on the part of the city. <br /> <br />(7) The bond shall be in a form approved by the city attorney and must be <br />accompanied by a power of attorney or other convincing evidence of the issuing <br />agent's authority to act for the surety company and must meet the requirements of <br />Article 7.19-1 (b) of the Insurance Code. <br /> <br />(8) The bond shall be furnished to the city prior to the issuance of a construction <br />permit for any construction on the parcel. <br /> <br />(b) The applicant must present to the city its estimate of the costs to construct the structural <br />controls included in the SWQMP, and the city will assess the reasonableness of the <br />estimate. If the city determines that the estimate is insufficient and the applicant does not <br />provide a substitute bond in an amount deemed sufficient by the city, the city shall deny <br />the SWQ permit that is supported by the bond. <br /> <br />(c) The bond shall be released one year after the date of the city's inspection that confirms <br />that the structural controls covered by the bond have been properly installed and are <br />performing as intended. <br /> <br />17 <br />