§ 21-109. Bond, insurance, and indemnity.

(a)

The applicant shall submit to the city a performance bond in the amount of one hundred thousand dollars ($100,000.00) from a surety authorized to do business in the state. The performance bond shall be valid for a period of two (2) years from the date that the permit is issued. The bond shall provide, but not be limited to, the following condition: there shall be recoverable by the city, jointly and severally from the principal and surety any and all damages, loss or costs suffered by the city in connection with the applicant's geophysical operations within the city. The bond shall contain the following endorsement: "It is hereby understood and agreed that this bond may not be canceled by the surety company until sixty (60) days after receipt by the city, by registered mail or written notice, of such intent to cancel or not to renew." The rights reserved to the city with respect to the bond are in addition to all other rights of the city and no action, proceeding or exercise of a right with respect to such bond shall affect any other rights of the city.

(b)

Prior to conducting any operations hereunder, the applicant and/or its contractors shall furnish a certificate of insurance to the city showing the city as an "additional insured" with respect to operations conducted within the city and showing liability insurance coverage covering commercial, personal injury, and general liability in amounts not less than one million dollars ($1,000,000.00) per person, three million dollars ($3,000,000.00) per occurrence, and one million dollars ($1,000,000.00) property damage.

(c)

The applicant shall protect, indemnify, defend and hold the city, its officers, employees, agents, and representatives harmless from and against all claims, demands, and causes of action of every kind and character for injury to, or death of, any person or persons, damages, liabilities, losses, and/or expenses, occurring or in any way incident to, arising out of, or in connection with its or its contractors', agents', or representatives' operations under this permit, including attorneys' fees, and any other costs and expenses incurred by the city in defending against any such claims, demands, and causes of action. Within thirty (30) days of receipt of same, the applicant shall notify the city, in writing, of each claim for injuries to, or death or, persons or damages or losses to property occurring or in any way incident to, arising out of, or in connection with its or its contractors', agents', or representatives' operations conducted under this permit. At the city's discretion, the city may conduct an independent investigation, monitor, and review the processing of any such claim to ensure that such claim is handled as required herein.

(d)

Any permit granted hereunder may be revoked upon breach of any term or condition contained herein.

(e)

Notwithstanding anything contained herein to the contrary, any permit granted hereunder shall not be effective unless and until a copy of the permit, signed by an authorized officer of the applicant, the performance bond, and the certificates of insurance have been filed with the city secretary.

(Ord. No. 716-1, § 1, 12-8-08)