Every person applying for a permit under this article shall submit with his application a bond with a lawful corporate surety to be approved by the president and board of trustees, conditioned on compliance with all the provisions of this article, and agreed to pay and holding the village harmless from any claim which may be made against it by reason of the occupation of any street, alley, sidewalk or other public place by the building or structure moved. (1963 Code § 22.603)