The sign became more popular when a hollywood actress name Peg Entwistle committed suicide by jumping off the letter H.
The sign is renovated and fixed many times before it became the current version.
The author plays with the word "berg"
Hill = Small mountain
Purpose = The result that is expected to receiving from doing something.
Suicide = Kill youself (usually say "commit suicide)
Chamber of Commerce = An association of businesspersons and merchants for the promotion of commercial interests in the community
Illuminate = To provide the brighten with light
Renovate = To recover something to its previous condition
Some sources from http://www.thefreedictionary.com
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