Every person desiring such license shall file with the Clerk, a petition in writing addressed to the President, giving the name and place of business, asking to become a licensed sewer builder and drain layer, and said petition shall be accompanied by a bond signed by two or more sureties, to be approved by the Board of Trustees, in the sum of three thousand dollars, unless a different sum be specially ordered by the Board of Trustees, conditioned that he or they, will indemnify and save harmless the Village of River Grove from all accidents and damage caused by any negligence in either the execution or protection of his work, either by himself or by any one acting under his direction, or for any unfaithful or inadequate work done under and by virtue of his license; and that said license as such, will also conform to all the conditions and requirements of the Village government, and will restore the street, alley, sidewalk and pavement disturbed by him, so as to leave the same in as good condition as he found them, or in default thereof will submit to such penalties as are or may be prescribed by the Board of Trustees for the government of licensed sewer builders and drain layers, and said Engineer having investigated as to the responsibility and skill of said applicant to carry on his trade as provided in preceding Sections, shall deliver said petition to the President with his recommendations endorsed thereon.