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All excavations made by any permittee adjacent to or abutting any street, alley, avenue or other public place shall be guarded both night and day by a display of proper signals and lights. At the time of application for permit, the applicant shall satisfy the city of his or its ability to indemnify the city, and shall be liable personally for all accidents and damages caused by the failure of the permittee to comply with this section. Liability coverage in the amount of one hundred thousand dollars shall be deemed to be sufficient indemnification to the city. The city engineer may require a further performance bond in an amount the city engineer deems appropriate to ensure completion of any project requiring excavation and so as to ensure backfilling and resurfacing in the event the property owner or contractor fails to comply with this section. The city engineer may also place reasonable time limitations on excavation work, pursuant to this section. (Ord. 1260, 2002; Ord. 722, 1981)