An applicant may be required to post security for compliance in accordance with the Municipal Code. The application form signed by the applicant for a City LDP permit shall include the following commitment by the applicant “In addition to the performance security posted with this application, the undersigned applicant hereby agrees to defend, indemnify and hold the City harmless from any and all claims, damages or suits arising directly or indirectly out of any act of commission or omission by the applicant, or any employee, agent, assign or contractor or subcontractor of the applicant, in connection with applicant’s coverage under General Permit #2 and/or City LDP Permit.