(A) Any such permit so issued shall be nontransferable by the permittee, and such permittee shall agree by the act of accepting such permit that the city shall not be held liable, on any cause of action at law or equity of whatever nature which might arise as a result of the installation, maintenance or use of such benches, and that such permittee shall pay any judgment with costs which may be taken against the city, its officers, agents or employees as a result therefrom.
(B) Such permittee before proceeding to install such benches shall furnish to and file with the City Controller and at all times pay the premium to keep in effect a policy of insurance in some company approved by the city naming the licensee and the city or its agents or employees as assured which shall be in such form as to protect the city, its agents or employees against all claims resulting from the installation or maintenance of such benches and to pay all damages as a result of any such suit. Such policy shall be conditioned to pay all damages not exceeding the sum of $100,000 for the death or injury to any one person with a total limit of liability for death or injury of not less than $200,000 and $5,000 for property damage.
(Ord. 48-1988, passed 10-19-1988)