Said applicant shall also submit with the application an insurance policy, issued by an insurance company authorized to do business in the State of Ohio by the State Department of Insurance, designating the Village of Perry as named insured, and holding the Village harmless from any and all claims for bodily injury within the limits of five hundred thousand dollars ($500,000) for each person, and five hundred thousand dollars ($500,000) for each accident, and for property damage claims in the amount of two hundred thousand dollars ($200,000) for each accident arising or growing out of the street excavation, or removal of the surface of any sidewalk, or excavation of any sidewalk, or the prosecution of the work for which the permit is obtained, or in any manner arising or growing out of the work necessary, or incidental to the issuance of the permit, or that may be occasioned by reason of any excavation, or anything else done pursuant to the permit. (Ord. 5-1998. Passed 5-26-98.)