Upon a finding by the director that a permit should issue for excavation or grading on the proposed site, a surety bond, lien or other security guarantee conditioned upon the faithful performance and completion of the permitted excavation activity shall be filed with the city. Such surety shall be executed in favor of the city and shall be maintained in an amount prescribed by the director sufficient to ensure the completion of the ordnance remediation and excavation of the site as prescribed in the approved permit. (Ord. 98-04 § 1, 1998)