All persons, firms or corporations licensed as scavengers by the village shall give bond to the village in the penal sum of $10,000 with surety to be approved by the Village President, conditioned to keep and save harmless the village from any and all damage that may result to pavements, sidewalks or other public property of the village resulting from the use of its streets or other public property in connection with such business, and further, to save and keep harmless the village from damages to persons or property arising from suits or claims resulting from obstructions or materials deposited or dropped upon the streets or other public places in the village by such scavenger.