Subject to the provisions of this chapter, every applicant for a permit for a sign which will extend over a public street or which is located as to be able to topple upon or drop upon the same, before the permit is granted, shall file with the building officer, a liability insurance policy or certificate of insurance issued by an insurance company authorized to do business in the state and reasonably acceptable to the building officer with limits of liability of not less than one hundred thousand dollars ($100,000.00) for property damage and three hundred thousand dollars ($300,000.00) for personal injuries. The village, its officers, agents and employees shall be named as additional parties insured. Such liability insurance policy shall be maintained in force throughout the life of the permit, and if at any time it shall not be in full force, the permit shall be revoked by the building officer. (Ord. 93-485, 7-13-1993)