Parking by the public upon private parking lots maintained by the owners or lessees of commercial establishments within the city shall be subject to the limitations or conditions as imposed by the owner or lessee of such establishments. The owner or lessee may give notice of any limitation or condition by posting one or more conspicuous signs on the property setting forth the applicable conditions or limitations. Any vehicle parked in a private parking lot in violation of such posted conditions or limitations shall be subject to removal with the owner responsible for the payment of any towing and storage charges. Any person violating the provisions of this section shall also be guilty of an infraction and shall be subject to the penalties as set forth in section 5-2-13 of this chapter. (1974 Code § 7-208)