If at any time after the approval of any of the bonds above mentioned the ownership of or leasehold in the property therein mentioned shall be changed, the principal and sureties in the bond may have the same canceled and discharged upon obtaining the approval of the mayor of a bond by the new owner or lessee of the premises, which bond shall be for the same amount and shall contain all of the conditions, liabilities and provisions contained in the bond sought to have canceled and discharged; provided, that before any such new bond is accepted by the mayor, the owner of the abutting premises shall, in writing, and in consideration of the accepting of the new bond, execute the waiver and agreement to indemnify the city as hereinbefore provided; and that before any such bond shall be accepted by the mayor, the new lessee of the abutting premises shall execute a new bond in consideration of the accepting of the new bond, containing the conditions, obligations and agreements to be contained in the bond herein provided to be executed by a lessee upon the granting of the permit herein mentioned. (Ord. 88-86 § 63, 1986: prior code § 41-3-11)