A. Insurance: The applicant shall show evidence that he is insured for not less than one million dollars ($1,000,000.00) for personal injuries and one million dollars ($1,000,000.00) for property damage.
B. Bond: The applicant must, prior to the issuance of a permit, file with the City a corporate surety bond executed to the City in the amount of two thousand five hundred dollars ($2,500.00) with sureties approved by the City Clerk, conditioned that all work done under such license shall be done in a good, competent manner and in accordance with the ordinances of the City relating thereto; and that the applicant or a surety will pay to the City, or any person injured, all damages for injuries to persons or property caused by the negligence, fault or mismanagement of said applicant, or due to any other cause, in doing any work under said license or any permit issued for such work; and will pay to the City any cost or expense incurred in repairing or restoring any pavement, curbs, sidewalks, electric facilities, trees or other public works injured and of restoring such work to its previous condition. (1998 Code)