Before a license shall be issued each applicant shall execute to the village, a bond in the penal sum of $2,000 with sureties to be approved by the Board of Trustees, conditioned that the applicant shall faithfully observe the provisions of this section and conditioned that the applicant will pay for all damages or injuries to any private or public property and conditioned further the applicant will indemnify, save and keep harmless the village against any liability, judgments, costs and expenses which may in any way accrue against the village in connection with granting of the permit or license. This bond shall not be released until the licensee has vacated premises and the grounds and street are cleaned, repaired and placed in a safe and sanitary condition to the satisfaction of the health officer and the superintendent of public works.
('68 Code, § 32.12(d))