(b) The Commissioner of Transportation reserves the right to revoke or annul the permit at any time and at his discretion without a hearing or the necessity of showing cause.

(c) The applicant agrees to pay all necessary costs incident to inspections by reason of the granting of a permit, as certified by the regional director of the Department of Transportation.

(d) The privilege granted by a permit does not authorize any infringement of Federal, State or local laws or regulations, and is limited to the extent of the authority of the Commissioner of Transportation in the premises. A permit may not be assigned or transferred without the written consent of said commissioner.

(e) The applicant will have on file with the Department of Transportation an acceptable undertaking under which the insurance requirements have been waived by the Commissioner of Transportation. Further, the waiver of such insurance requirements shall not abridge, diminish or affect a permittee's legal responsibilities for the consequences of accidents arising out of or resulting from operations of a permittee under a permit.

(g) In the event an applicant does not desire to furnish an undertaking, or an undertaking is not acceptable to the department, the above insurance requirements must be complied with and the applicant must furnish the Department of Transportation with a deposit of a certified check, a bank check or negotiable instrument acceptable to the New York State Department of Transportation, or a bond in the amount of $100,000, or a certified check, a bank check or negotiable instrument acceptable to the New York State Department of Transportation, or a bond in the amount of $100,000 payable to or for the benefit of the State Department of Transportation, to guarantee satisfactory completion of any and all work undertaken in accordance with the terms of the permit.