The Restoration of Surface and indemnity by Assignee form, is used for the assignee to agree to restore the surface of the land included within the assigned assets as nearly as possible to its prelease condition when the use and operation on that part of the land is completed.
North Carolina Restoration of Surface and indemnity by Assignee
Category:
State:
Multi-State
Control #:
US-OG-485
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Word;
Rich Text
Instant download
Description
How to fill out Restoration Of Surface And Indemnity By Assignee?
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FAQ
In legal terms, an Act of Indemnity is a statute passed to protect people who have committed some illegal act which would otherwise cause them to be subjected to legal penalties.
North Carolina's anti-indemnity statute declares that any provision in a construction or design professional contract that requires a party (promisor) to indemnify another (promisee) for the promisee's or its derivative parties' own negligence, whether in whole or in part, is against public policy, void, and ...
B) The concept of actual cash value supports the principle of indemnity by ensuring that the insured does not receive more than the actual amount of their loss. This ensures that the insured is not overcompensated and prevents insurers from taking advantage of policyholders.
Indemnity is implicated when a person discharges another's duty: A person who, in whole or in part, has discharged a duty which is owed by him but which as between himself and another should have been discharged by the other, is entitled to indemnity from the other, unless the payor is barred by the wrongful nature of ...
In the indemnity clause, one party commits to compensate another party for any prospective loss or damage. More common is in insurance contracts, in exchange for premiums paid by the insured to the insurer, the insurer offers to compensate the insured for any potential damages or losses.
The principle of indemnity is a central, regulatory principle in insurance that applies to most policies, except personal accident, life insurance, and other similar policies. This exception is because it is impossible to accurately quantify a human life in monetary terms.
North Carolina's anti-indemnity statute declares that any provision in a construction or design professional contract that requires a party (promisor) to indemnify another (promisee) for the promisee's or its derivative parties' own negligence, whether in whole or in part, is against public policy, void, and ...
In North Carolina, the statue of repose is six years, and the period generally begins to run upon substantial completion of the project.
