All licenses issued as provided in Section 1357.01 shall be for the period of one year. No license shall be granted until the party applying therefor has given a bond or other surety subject to the approval of the Mayor and the Director of Law in the sum of one hundred thousand dollars ($100,000) to the City conditioned, among other things, that the party will pay any and all damages which may happen to any tree, pavement, street, sidewalk or any public building or structure and all damages resulting to all persons which may be caused by the carelessness or negligence of the person so licensed, or by his agent, employees or workman while engaged in moving any building in the streets, alleys or public ways of the City. It shall be conditioned that the party licensed will save, indemnify and keep harmless the City against all liabilities, judgments, damages, costs and expenses which may accrue against the City in consequence of the granting of the license or any permit issued to the licensee as hereinafter provided, and will in all things strictly comply with the conditions of his license and any and all permits granted to the licensee.
(1979 Code 116.41)