[Amended 9-14-1987]
Prior to granting and issuing such permit, the permit authority shall require a surety bond, acceptable to the Village Attorney, in the sum of $5,000, from the applicant or from the person with whom a contract for such display shall be made, conditioned upon the payment of all damages which may be caused to a person or persons by reason of the display so permitted and arising from any acts of the permittee, his agents, employees, contractors or subcontractors. Such bond shall run to the Village of Larchmont and shall be for the use and benefit of any person or persons or owner or owners of any property so injured and damaged, and such person or persons or such owner or owners shall have the right to maintain an action thereon pursuant to §
405.00 of the Penal Law and, in addition, shall require insurance coverage by the fireworks sponsor or fireworks exhibitor at not less than $100,000, indemnifying and holding harmless the Village of Larchmont from any and all claims for damages to person or property arising out of or in connection with the fireworks exhibition, including any damage or injury caused through the negligence of the Village of Larchmont, its agents and employees or otherwise.