Indemnity Agreement

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Last Updated: February 12, 2023.

About this Form

Indemnification agreements are used to transfer the risk of loss or liability from one party to another, and they are commonly used in various business transactions, such as construction projects, real estate transactions, and software development contracts. This form outlines the obligations of the parties to indemnify and hold harmless the indemnitees from any claims, actions, liabilities, losses, damages, or suits that may arise from specific events or circumstances.

By signing this form, the parties agree to defend and protect the indemnitees in the event of an asserted claim. If they fail to do so, the indemnitees have the right to defend, pay, or settle the claim on their own and have the right to seek reimbursement from the undersigned. The agreement is unlimited in terms of amount or duration and is binding on the parties, their successors, assigns, and personal representatives. The agreement requires the signatures of the undersigned parties and witnesses.

INDEMNITY AGREEMENT

FOR VALUE RECEIVED, the undersigned jointly and severally agree to indemnify and save harmless __________________________ ("Indemnitees") and their successors and assigns, from any claim, action, liability, loss, damage or suit, arising from the following:

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_______________________________________________________________
_______________________________________________________________
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In the event of any asserted claim, the Indemnitees shall provide the undersigned reasonably timely written notice of same, and thereafter the undersigned shall at its own expense defend, protect and save harmless Indemnitees against said claim or any loss or liability thereunder.

In the further event the undersigned shall fail to so defend and/or indemnify and save harmless, then in such instance the Indemnitees shall have full rights to defend, pay or settle said claim on their behalf without notice to the undersigned and with full rights to recourse against the undersigned for all fees, costs, expenses and payments made or agreed to be paid to discharge said claim.

Upon default, the undersigned further agree to pay all reasonable attorney's fees necessary to enforce this agreement.

This agreement shall be unlimited as to amount or duration.

This agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.

Signed this _____ day of__________. 20____.



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First Party



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Second Party



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Witness 1



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Witness 2
  

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