(A) The applicant shall provide a surety bond amount of $5,000 in favor of the town, for a period of two years from the date the permit is issued, that, in consideration for being permitted to make such excavation, cut or bore, such person shall leave the street, sidewalk, alley or right-of-way in as good condition as the same was in when the work was commenced, and that he/she will, at all times, keep the place where such excavation is made properly guarded by day and lighted by night so as to sufficiently warn travelers of the excavation, cut or bore.
(1) The surety bond posted with respect to each permit shall not be released until an approved inspection is received on the restoration of the street, sidewalk, alley or right-of-way.
(2) The company providing the surety bond shall be licensed to do business in Indiana and shall be in good standing with the town.
(B) The applicant shall indemnify and hold harmless the town, its officers, boards, commissions, agents and employees, from any lawsuits, claims, causes of action, judgments and liens arising out of any act or omission by the applicant, or any of its officers, agents or employees, in connection with the permit and construction, operation, or removal of any street, sidewalk, alley or right-of-way. Such indemnity shall include reasonable attorney's fees, court costs, and any other expenses arising therefrom or incurred in connection therewith.
(Ord. 82-2, passed 4-5-82; Am. Ord. 08-3, passed 3-10-08) Penalty, see § 95.99