Every person who engages in the business of erecting, hanging, taking down, maintaining
or repairing awnings which project over the public streets and highways of the city
shall file with the license administrator a bond in the sum of $5,000.00 indemnifying
the city against all claims, judgments or suits caused by the erection, hanging, taking
down, repairing, construction, existence or maintaining of any awnings erected, maintained
or constructed by such applicant.