1. Bond.  The applicant for a building mover's license must file with the city clerk a bond executed by a bonding or surety company authorized to do business in the state of Iowa.  This bond will be in the penal sum of ten thousand dollars conditioned upon the assurance that this and other applicable ordinances and laws will be complied with, and that the applicant will reimburse the city for all damages to public property caused by negligence, fault, or mismanagement of the applicant or any person in his employ doing any work under the license.

    2. Insurance.  Before any building moving license will be issued the applicant shall obtain and furnish to the city an insurance policy for public liability and property damage in the amount of three hundred thousand dollars per person injured, five hundred thousand dollars for each accident and one hundred fifty thousand dollars for property damage.  Said policy cannot be revoked, cancelled or modified in any way until the city has been notified by certified mail at least thirty days prior to the proposed action.  In no event may the building mover terminate or cancel the insurance policy after a permit has been issued approving the moving of a structure.

    By making application for and receiving a house moving permit, the house mover agrees that it will indemnify and hold harmless the city and its respective officers, agents, and employees from any loss, cost, damage, expense, and liability by reason of property damage and injury of whatsoever nature or kind arising out of or as a result of any negligent act or failure to act in connection with the performance of the work of the house mover, his employees and agents, and the house mover agrees that public liability and property damage insurance which it is required to maintain pursuant to this chapter will cover these obligations.

    3. Termination of Bond or Insurance.  In the event the bond or insurance policy required hereunder shall be cancelled, terminated or for any reason shall cease to be in full force and effect, the license of the building mover named as principal assured therein shall automatically terminate.  Said building mover shall immediately surrender said license to the city and cease moving operations authorized thereunder, unless and until said building mover shall furnish in the manner foresaid such new bond and/or insurance policy meeting the requirements of this chapter.  (Ord. 85/T-3873).