The owner of land abutting any street that has not been improved to City standards and accepted for maintenance will be liable for all damages to any person who is injured or otherwise suffers damages resulting from the defective condition of the street or by reason of the property owner’s failure to keep the street in safe condition and good repair. The property owner will be liable to the City for any amounts that may be paid or incurred by the City by reason of all claims, judgments or settlements, and for all reasonable costs of defense, including investigation costs and attorney fees, by reason of the property owner’s failure to satisfy the obligations imposed by the Charter and Portland City Code to maintain, construct and repair such streets.