The owner of the property or the person in control of any sign, marquee, porte-cochere, awning or any structure for which a permit is required by this article shall execute a bond in accordance with Section 1733.04, indemnifying the Town against all loss, cost, damage or expense, incurred or sustained by or recovered against the Town by reason of the construction, erection or maintenance of any such sign, marquee, porte-cochere, awning or other structure.