The department may require a performance bond and/or a deposit on an annual basis, or otherwise, if the failure of the permittee to complete the work specified by the permit would, in the department's discretion, necessitate completion of the work by the department to restore the right of way to a condition, visual or otherwise, compatible with the condition pre-existing the issuance of the permit. Any deposit shall be returned when the work is satisfactorily completed. The performance amount or deposit shall be set by the department, consistent with the scope and magnitude of the work involved. Failure to maintain a required performance bond immediately terminates a permit issued pursuant to this Part.