The licensee and owner of the premises upon which the outdoor festival would be held
shall sign a unilateral written contract promising that they will reimburse all owners
and occupants of property adjoining the subject premises for any and all loss, injury,
or damages to such owners or occupants or to their property caused by the licensee,
by the owner of the subject premises, or by any other person attending the outdoor
festival, which damage would not have occurred had the outdoor festival not been held.
Accompanying and securing such agreement shall be a surety bond in favor of the city
and all persons to whom the licensee or owner of the subject premises may be liable
because of such required agreement. The bond shall be prepared by a corporate bonding
company authorized to do business within the state by the department of insurance
and shall be in the amount of not less than $50,000.00 or $10.00 per person permitted
by the license to attend the outdoor festival, whichever is more.
