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CITY OF LA PORT~~USTRIAL ~ Page S
<br />DEGELOP*iEtiT CORP RATION
<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 Lnit, the applicant or am other
<br />person and all property evened or claimed by the Corporation,
<br />the Cnit, 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 an}* 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 iniuries, damages or
<br />.destruction of all or any part or parts of any propene owned
<br />or claimed by the applicant that directly or indirectly result
<br />from, arise out of or relate to the design, construct-.ion,
<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 ir. 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 e~pe.^.s es of collection,- actually
<br />received by them from any insurance with respect to the Loss.
<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 assigr. 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 Par~y, threated against
<br />any of them in respect of which indemnity, may be sought
<br />against *_he Applicant, the Indemnified Party shall promptly
<br />notify the applicant in writing and the applicant shall have
<br />the ~ight to assume the investigation and defense thereof,
<br />including the employment of counsel and the payment of all
<br />expenses. The indemnified ?arty shall :,aye the right to
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