No person shall blast or cause to be blasted any rock or other substance with any explosive or store explosives in the Town of Cortlandt without having first obtained a permit therefor from the Director of Code Enforcement upon written application on an approved form. Before such permit is issued, the persons shall submit evidence in the form of a certificate of insurance issued by an insurance company authorized to do business in the State of New York and in a form acceptable to the Town Attorney, guaranteeing that the applicant has in full force and effect a policy of public liability insurance, including a specific endorsement covering the liabilities arising from blasting and storage of explosives, and providing bodily injury and property damage coverage in an amount as set by resolution of the Town Board from time to time. Such policy shall also provide to save the town harmless from all claims, actions and proceedings brought by any person, firm or corporation for injury to persons or property resulting from or occasioned by such blasting operations or storage of explosives. Such policy shall name the town as an additional insured and shall also contain the provision that the policy shall not be canceled, terminated, modified or changed by the company unless ten (10) days' prior written notice is sent to the Town Clerk by registered mail. Such policy shall also provide that the presence of an Inspector from the Department of Code Enforcement on the site of the operations shall not affect the obligation of the insurer under its policy. No permit shall be valid unless such insurance is in full force and effect.