Where permits are authorized in this chapter, they shall be obtained upon application to the City Manager, upon such forms as he or she shall prescribe, and there shall be a charge of three hundred dollars ($300.00) for each such permit. Such permit shall be revocable by the City Manager for failure to comply with this chapter, rules and regulations adopted pursuant hereto, and the lawful orders of the City Manager or his or her duly authorized representative, and shall be valid only for the period of time endorsed thereon. Application for a permit under the provisions of this chapter shall be deemed an agreement by the applicant to promptly complete the work permitted, observe all pertinent laws and regulations of the City in connection therewith, repair all damage done to the street surface and installations on, over or within such street, including trees, and protect and save harmless the City from all damages or actions at law that may arise or may be brought on account of injury to persons or property resulting from the work done under the permit or in connection therewith. Where liability insurance policies are required to be filed in making application for a permit, they shall be in not less than the following amounts, except as otherwise specified in this chapter:
   (a)   On account of injury to, or death of, any person in any one accident      $1,000,000
   (b)   On account of any one accident resulting in injury to, or death of, more than one person      2,000,000
   (c)   On account of damage to property in any one accident      1,000,000
   A duplicate executed copy or photostatic copy of the original of such insurance policy shall be filed with the City Clerk.
   Where cash deposits are required with the application for any permit hereunder, such deposit shall be in the amount of one thousand dollars ($1,000), except as otherwise specified in this chapter, and such deposit shall be used to defray all expenses to the City arising out of the granting of the permit and work done under the permit or in connection therewith. Three months after completion of the work done under the permit, any balance of such cash deposit unexpended shall be refunded. In any case where the deposit does not cover all costs and expenses of the City, the deficit shall be paid by the applicants.