All persons to whom a permit is granted shall file a bond with the City Auditor to the approval of the Director of Public Service and Safety, with at least 2 sureties, in the sum of not less than $200.00, conditioned to indemnify and save harmless the City from all damages arising from the change or alteration in the curb, that the work be done in a good and workmanlike manner, and that the conditions upon which the permit is granted will be complied with to the satisfaction of the Director of Public Service and Safety, and that any settlement in the curb or defect in the work done shall be made good at any time within 2 years from the time of the completion of the work. (1979 Code 93.41)