Maywood Zoning Code § 5100.100 Insurance Covering a Breach of Imposed Conditions

Where the filing of a bond, deposit of cash, savings and loan certificates, or shares is required to insure compliance with any condition of a Variance or Conditional Use Permit, the Commission may require that the applicant or owners of the property to which such variance or conditional use permit applies, either file a policy of insurance equal in amount to the amount of the required bond or deposit of savings and loan certificates or shares, insuring all persons against any injury or annoyance arising from the breach of said conditions, or:

• A. If a bond is filed, it shall insure all persons against any injury or annoyance arising from the breach of said conditions by including all such persons as obligees.

• B. If money or savings and loan certificates or shares are deposited, the depositor shall also file in writing an agreement with the City that the City may satisfy in whole or in part from such sureties any final judgment, the payment of which would have been guaranteed by such bond or policy of insurance.