The Building Commissioner shall issue the permit applied for upon receipt of the application duly approved by the Planning and Design Commission and upon the furnishing of a bond by the applicant in the sum of one hundred thousand dollars ($100,000), in form and with surety approved by the Mayor, conditioned upon the faithful observance of all provisions of law and ordinance relating to drilling of an oil or gas well, and further conditioned that the permittee and his or her assigns shall:
(a) Restore the streets and sidewalks and all other public places of the City which may be disturbed in the operation, to their former condition;
(b) Clear the area of all litter, machinery, derricks, buildings, oil or substances used in the drilling or production operation;
(c) Pay any and all damages suffered by any person or corporation from fire, oil, gas or water damage to property in the City, over and above the insurance collected thereon, caused by or originating from the operations connected with such well, and;
(d) Hold the City free and harmless from any and all liability growing out of the granting of such permit. (Ord. 2172. Passed 7-5-55.)