|
CITY OF LA PORTEI*USTRIAL �
<br />Page 5
<br />DEVELOPMENT CORPORATION
<br />Application for Financing
<br />other legal actions and proceedings of whatsoever nature,
<br />including but not limited to claims, lawsuits, causes of
<br />action and other legal actions and proceedings, involving
<br />bodily or personal injury or death of any person or damage to
<br />any property (including, but not limited to, persons employed
<br />by the Corporation, the Unit, the applicant or any other
<br />person and all property owned or claimed by the Corporation,
<br />the Unit, the Applicant, any affiliate of the Applicant or any
<br />other person) or involving damages relating to the issuance,
<br />offering, sale or delivery of the Corporation's bonds to
<br />finance the Project (the "Bonds") brought against any Indemni-
<br />fied Party or which any Indemnified Party is a party, even if
<br />groundless, false or fraudulent, that directly or indirectly
<br />result from, arise out of or relate to the issuance offering,
<br />sale or delivery of the Bonds or the design, construction,
<br />installation, operation, use, occupancy, maintenance or
<br />ownership of the Project or any part thereof.
<br />None of the Indemnified Parties shall be liable to the Appli-
<br />cant for, and the Applicant hereby releases each of them from
<br />all liability to the Applicant for all injuries, damages or
<br />destruction of all or any part or parts of any property owned
<br />or claimed by the Applicant that directly or indirectly result
<br />from, arise out of or relate to the design, construction,
<br />operation, use, occupancy, maintenance or ownership of the
<br />Project or any part thereof, even if such injuries, damages or
<br />destruction directly or indirectly result from, arise out of
<br />or relate to, in whole or in part, one or more negligent acts
<br />or omissions of the Indemnified Parties in connection with the
<br />issuance of the Bonds or in connection with the Project.
<br />Each Indemnified Party, as appropriate, shall reimburse the
<br />Applicant for payments made by the Applicant to the extent of
<br />any proceeds, net of all expenses of collection, actually
<br />received by them from any insurance with respect to the Less
<br />sustained. Such Indemnified Party, as appropriate, shall have
<br />the duty to claim any such insurance proceeds and the Indemni-
<br />fied Party, as appropriate, shall assign its respective rights
<br />to such proceeds, to the extent of such required reimburse-
<br />ment, to the Applicant. In case any action shall be brought
<br />or -to the knowledge of any Indemnified Party, threated against
<br />any of them in respect of which indemnity may be sought
<br />against the Applicant, the Indemnified Party shall promptly
<br />notify the Applicant in writing and the Applicant shall have
<br />the right to assume the investigation and defense thereof,
<br />including the employment of counsel and the payment of all
<br />expenses. The Indemnified Party shall have the right to
<br />
|