(A) Prior to engaging in any demolition operations, a demolition contractor shall have on file with the Village Administrator evidence that he or she has current comprehensive liability insurance of not less than the following limits:
(1) Bodily injury liability: each person, $300,000; each accident, $500,000;
(2) Property damage liability: $500,000; and
(3) Automobile: each person, $300,000; each accident, $500,000.
(B) In case of a demolition contract awarded by the village under the provisions of this chapter, the contractor shall also post satisfactory and sufficient performance, work, labor, and materials bonds. As a condition of the issuance of any permit for a specific demolition project, the village may require a performance bond indemnifying the village for defects in performance within one year after completion of the work covered by the permit.
(Ord. 34-04, passed 5-17-2004)