Each financial security so filed by the applicant, as required hereunder,
shall be conditioned as follows and shall be guaranteed by a corporate
surety containing language commonly used in performance bonds and
approved by the Director of Administrative Services of the Borough:
"Now, the condition of this obligation is such that, if the
said (applicant) principal hereinbefore named, his, their or its heirs,
executors, administrators, successors or assigns, in laying or repairing
or connecting water mains, gas lines, pipes, surface lines, or performing
other work in any public street, avenue, road, square, alley, highway
or other public place located in the Borough, including therein all
sidewalk and unimproved areas within the street limits, requiring
a permit from the Borough for the opening thereof, shall properly
protect and guard all excavations made by him, them or it, and place
lights or warnings while so laying or repairing or connecting or excavating
or performing any such work and erecting such pipes, together with
the curb or gate valve boxes, so that the top thereof shall be flush
with the surrounding ground, and shall forthwith restore at his, their
or its expense the earth, pavements, streets, avenues, roads, squares,
alleys, highways or other public places located in the Borough of
Bellevue, including therein all sidewalk and unimproved areas within
the street limits, and any sewer connections, manhole covers, drains
or castings, insofar as the same have been disturbed by the principal,
in the same condition in which they were before being so disturbed,
to be restored in accordance with this article and keep the same at
his, their or its expense in good repair for two years from the date
of the permit issued for the same by the Borough; and provided, further,
that if the (applicant) principal, his, their or its heirs, executors,
administrators, successors or assigns, respectively, shall indemnify
and save harmless the said Borough of Bellevue, its successors and
assigns, from all loss, damage, costs, charges, excess yardage charges,
increased permit charges, applied permit charges, and expenses whatsoever
in any manner occasioned by or arising from the opening, repairing,
excavating or disturbing of any public street, avenue, road, square,
alley, highway or other public place located in the Borough of Bellevue,
including therein all sidewalk and unimproved areas within the street
limits; and provided, further, that if the (applicant) principal,
his, their or its heirs, executors, administrators, successors or
assigns, respectively, shall indemnify and save harmless the Borough
of Bellevue, its successors or assigns, from all damages, costs, charges
and expenses for which the said Borough of Bellevue may be held liable
for or by reason of injuries or damages to persons or property resulting
from or incurred because of the negligence of the (applicant) principal
in the performance of the work comprehended by the permit or done
by the principal, his, their or its agents, servants, employees or
subcontractors following the issuance thereof, then this obligation
shall be void. Otherwise, it shall be and remain in full force and
effect."