An application hereunder shall be accompanied by a liability insurance policy or adequate certificate thereof, issued by an insurance company authorized to do business in the State, and approved as to form by the Law Director, in limits for bodily injury or loss of life of $100,000 per person; $300,000 per accident, and property damage liability of $50,000 per accident. The insurance shall serve as an indemnity for any damage which the Village may sustain by reason of damage or injury to any highway, street, alley, sidewalk, fire hydrant, traffic-control signals, or other property of the Municipality which may be caused by or be incidental to the removal of any building over, along, or across any street in the Municipality, and to indemnify and save the Municipality harmless from any claim for damages to persons or private property or legal expense as a result thereof, and to satisfy any claims by private individuals arising out of, caused by, or incidental to the moving of any building over, along, or across any street in the Municipality. The insurance coverage shall also include protection in the event of explosion, collapse, or damage to underground utilities, and shall include a thirty-day minimum notice of cancellation provision.
(Ord. 1238. Passed 1-15-79.)