(1) The public recreation applicant shall hold City harmless from any and all claims arising from any and all personal injury or property damage resulting from said public recreation.

(2) The public recreation applicant shall submit, with its business license application, evidence of a liability insurance policy providing for a minimum of $1,000,000 bodily injury coverage per person; $3,000,000 bodily injury coverage per occurrence; and $250,000 property damage coverage. City shall be named as an insured and the applicant shall submit a certificate of insurance to the City stating that the insurance shall not be canceled prior to giving City at least 10 days’ written notice of such cancellation. At his discretion, the City Manager may waive this insurance requirement for nonprofit organizations.