All persons intending to conduct a commercial activity from the city airport shall:
(A) Deliver to the City Clerk an “all perils” policy of insurance issued by a company with a minimum rating of A:AAA+ in the latest edition of Best’s Key Rating Guide in the amount of $1,000,000. The city shall be named as an additional insured with the provision that the city shall be notified by the insurance company at least ten days in advance of cancellation of the insurance policy; and
(B) Enter into an indemnification agreement and hold harmless agreement with the city from and against all claims arising out of the activity of the person.
(1990 Code, § 5-88) (Ord. 70-92, passed 7-20-1970; Ord. 75-389, passed 7-21-1975)