Every person applying for a permit under this chapter shall submit with his application a cash bond with a lawful corporate surety to be approved by the village board, conditioned on his compliance with all the provisions of this chapter and agreeing to pay and holding the village harmless from any claim which may be made against it by reason of the occupation of any street, alley, sidewalk or other public place by the building or structure moved. (1982 Code § 9-3-3)