The licensee on the permit shall indemnify and save free and harmless the city against and from all damages, judgments, decrees, costs and expenditures which the city may suffer or which may be recovered from or obtained against the city during the term hereof for or by reason of acts done by licensee during such terms or growing out of or resulting from the exercise by such licensee of any or all of the rights and privileges granted by this permit, or any act, or acts of the servants or agents thereof, under or by virtue of the provisions of the permit. (Prior code § 65700)