02-13-1984 Industrial Development Corporation Board of Directors Meeting (2)

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• 'r 1 CITE' OF LA PORTS INDUSTRIAL DE~~LOPMENT CORPORATI023 Application for Financing Page 4 business of the corporation or other organization in ' which such occupations and employment were carried on; - and, 4. Audited financial statements (or if audited financial statements are not available, unaudited financial state- ments) for each of the three preceding fiscal years. ' b. Detail changes or events subsequent to the date of the most ' recent financial statements (including but not limited to pending or threatened litigation, claims, assessments, commit- ; ments, subsequent information regarding uncollectibility of receivables, valuation of assets, changes in corporate struc- ture or statements of prior period financial statements) which may have a material effect on the Applicant's financial position: No such changes or events. 5. Agreements of Applicant ~! ~.~ a. Indemnity: By its execution of this Application, the Applicant agrees that it will at all times indemnify and hold harmless the Corporation, the Board of Directors of the Corporation, the City of La Porte, Texas (the "Unit"), the City Council of the Unit and any of the officers, directors, employees, agents, servants and any other party acting for or on behalf of the Corporation or the Unit (such parties being hereinafter referred to as the "Indemnified Parties") against any and all losses, costs, damages, expenses and liabilities (collectively herein called "Losses") of whatsoever nature (including, but not limited to, attorneys' fees, litigation and court costs, amounts paid in settlement and amounts paid to discharge judgments) directly or indirectly resulting from, arising out of or relating to one or more Claims, as hereinafter defined, even if such Losses or Claims, or both, directly or indirectly result from, arise out of or relate to, or are asserted to have resulted from, arisen out of or related to, in whole or ~ in part, one or more negligent acts or omissions of the In- demnified Parties in connection with the issuance of the Bonds or in connection with the Project. The term "Claims" as used herein shall mean all claims, lawsuits, causes of action and other legal actions and proceedings of whatsoever nature, .