Any applicant (holder) having qualified for registration as a Contractor hereunder shall file with the Clerk-Treasurer an indemnity bond having been recorded in the Office of the Recorder of Lake County, if required by state statute, and payable to the County of Lake, or any and all cities and towns of Lake County, Indiana, for any person damaged, in the penal sum of five thousand dollars ($5,000.00), such bond to be conditioned that the applicant shall not violate any of the terms or conditions of this Ordinance, or any other applicable ordinances of the Town of Schererville, or any Building Code of the Town of Schererville. Such applicant (holder) shall maintain such bond as long as he, she or it continues in business in the Town of Schererville, Indiana. In the event a holder of the registration for a Contractor is an agent, as set forth in Section 7-7 herein, and the employment relationship between the agent and corporation terminates, for whatever reason, said Contractor shall immediately notify the Town and said registration shall immediately terminate, expire and become null and void. Said applicant shall immediately designate a new supervisor to make re-application for registration as holder thereof.
(Ord. No. 1212, § 8, 9-9-92)