(A) A permit applicant shall provide proof of general liability insurance that includes the village (including its officers and employees) as an insured or additional insured. Such insurance shall provide coverage in an amount not less than the following: a minimum of $1,000,000 for public liability and $1,000,000 for property damage. A duplicate executed copy of the original of such certificate of insurance showing the insurance to be in place and the premium fully paid shall be filed with the village. Such insurance shall provide that coverage may not be terminated or modified without at least 15 days prior written notice to the village. Upon request of the village, copies of the policies and all endorsements shall be filed with the village.
(B) The village may require the applicant to furnish a bond in an amount deemed adequate for the proposed activity. In lieu of or in addition to a bond, the village may require the applicant to furnish a deposit to cover the expense to the village if the construction or other activities are not performed in accordance with the permit, village ordinance, or other applicable law. The deposit shall be paid to the Village Clerk and will be used only for that purpose. Upon completion of the work, any surplus not used by the village to correct any failures to comply with the conditions of the permit and this subchapter shall be refunded to the applicant, without interest.
(Ord. 206, passed 11-11-2015)