(A) Bond. Before any license aforesaid shall be issued, the applicant shall execute a bond running to the village with a corporate surety in the amount of $5,000, conditioned upon the performance by the applicant of the obligations to be performed under the terms of this subchapter and further conditioned to indemnify and save the village harmless from any liability, loss or damage resulting from the work undertaken, or the manner of doing same, by the applicant.
(B) Insurance.
(1) No permit shall be issued for the construction of a building or structure in the village or for the repair or alteration of the exterior of any building or structure unless a certificate or other proof is filed showing that the contractor carries worker’s compensation insurance and public liability insurance with limits of at least $50,000 for each person and $100,000 for each accident on bodily injury liability and $25,000 on property damage liability.
(2) Before any contractor does any work for the village on any street or highway or on any building or premises owned by the village commences work, he or she shall file with the Clerk a certificate or other proof showing that he or she carries worker’s compensation and public liability insurance as required by the ordinances and the terms of his or her contract.
(Prior Code, § 3-7A-4)