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(A) At the time of issuance of the newsrack permit, the permittee shall also execute a form, approved by the city attorney, agreeing to hold the city, its officers, employees and agents, free and harmless from any claim, demand or judgment in favor of any person, arising out of the installation, use, maintenance or location of any newsrack.
(B) At the time of issuance of the newsrack permit, the permittee shall submit to the city clerk a certificate of insurance confirming that a liability insurance policy in minimum amounts normally required by the city for encroachment permits has been issued naming the city as an additional insured. The certificate of insurance shall contain a provision which binds the insurance company to notify in writing the finance director or designee 30 days prior to cancellation of the liability insurance policy. If such liability insurance policy is canceled at any time, the city may remove the permittee's newsracks in accordance with the provisions of section 7-117.
(`64 Code, Sec. 19-61.6) (Ord. No. 2341)