(A) Every applicant for a permit to erect, alter, or maintain a sign over or on public property shall file with the Building Administrator for each such sign, or for each premises on which signs are erected, a continuing bond in the penal sum of $50,000, exe-cuted by the applicant and approved surety company, conditioned to indemnify, save, and keep harmless the Village from all claims, damages, liabilities, losses, actions, suits, or judgments which may be presented, sustained, brought, or secured against the Village on account of the erection, alteration, or maintenance of said signs, or by reason of any accident caused by or resulting therefrom.
(B) In addition, a cash deposit shall be deposited with the Village Treasurer for each permit obtained to guarantee removal of the sign upon expiration of the permit. The amount of the deposit shall be in such amount as shall be determined from time to time by the President and Board of Trustees of the Village of Schiller Park.
(C) Such cash deposit shall be refunded upon the removal of the sign. If the sign is not removed upon expiration of the permit, the Building Administrator may cause same to be removed at the expense of the owner of the premises upon which the sign is located. The Building Administrator shall deduct the cost of removal or damage to the public property if damaged by said sign or by the contractor in prosecution of the work for which the permit has been issued. Nothing contained herein shall excuse the owner of the premises or of the sign, the contractor, or the permittee from any liability or obligation herein or imposed by law.
(Ord. 95-1934, passed 6-13-95)