Every owner and every person in control of any estate who maintains a sidewalk vault, coal hole, manhole or any other excavation or any post, pole, sign, awning, wire, pipe, conduit or other structure in, under, over or upon any street which is adjacent to or a part of his estate shall do so only on condition that such maintenance shall be considered as an agreement on his part with the city to keep the excavation or structure and the covers thereof and any gas and electric boxes and tubes thereon in good repair and condition at all times during his ownership or control thereof. Every such owner or person shall indemnify and save harmless the city against all damages or actions at law that may arise or be brought by reason of such excavation or structure being under, over, in or upon the street or being unfastened, out of repair or defective during such ownership or control.
(1993 Code, § 58-31)