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Surface Use Agreement (Contains Provisions Relative to Indemnity)

Palm Beach Florida Surface Use Agreement (Contains Provisions Relative to Indemnity)

Name: Palm Beach Florida Surface Use Agreement (Contains Provisions Relative to Indemnity)
Brand: US Legal Forms
Rating: 4.76 (325 reviews)

Category:

Oil Gas and Minerals - Agreements

State:

Multi-State

County:

Palm Beach

Control #:

US-OG-1197

Format:

Instant download

Description

This form is a surface use agreement that contains provisions relative to indemnity, release of liability and allocation of risk.

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FAQ

Nothing can be certain, except death, taxes, and arguments about the enforceability of indemnification provisions in construction contracts. Indeed, the most commonly raised defense to a demand for indemnification is that the provision fails to comply with Florida's Anti-Indemnification Statute, Section 725.06, Fla.

As discussed, an indemnity provision transfers risk from one party (called the ?indemnitee?) to another party (called the ?indemnitor?). Under an indemnity provision, the indemnitor agrees to reimburse the indemnitee for losses resulting from a claim or claims brought by a third-party.

Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.

The most common example of indemnity in the financial sense is an insurance contract. For instance, in the case of home insurance, homeowners pay insurance to an insurance company in return for the homeowners being indemnified if the worst were to happen.

?To indemnify? means to compensate someone for his/her harm or loss. In most contracts, an indemnification clause serves to compensate a party for harm or loss arising in connection with the other party's actions or failure to act. The intent is to shift liability away from one party, and on to the indemnifying party.

Generally, you should only agree to pay for losses arising from your own actions and not the other party's actions. If you want to draw a stricter line, you could negotiate an indemnification provision that only holds you liable for gross negligence and willful misconduct, and not simple negligence.

Indemnification clauses should include expenses, such as legal expenses, in addition to requiring compensation for claims, losses and damages.

Indemnification obligations survive closing ? meaning the obligations remain in effect even after you close the deal and collect the purchase price. The survival period for the representations and warranties made in the purchase agreement usually ranges from six months to two years.

An indemnification cap, or cap on an indemnity clause , is a cap on liability. It represents the obligation of a seller to a buyer against breaches of reps and warranties. This cap is the maximum liability under the indemnification stipulations and is stated to a specific dollar amount.

Indemnity provisions involve a promise by one party to protect another party from claims for damages by a third-party. The intent of an indemnity provision is to transfer the risk of third-party claims to the party best-suited to bear the risk.

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Board Policy 7. These can include a list of properties subject to the agreement, an inven- tory of the conditions of the properties, hours of use, operating rules,.95-222, § 2, adopted Dec. 5, 1995, repealed former Ch. 18A, relative to landscaping, and enacted a new Ch. 18A to read as herein set out. Management of use, occupancy, and development of public lands. Need To Create A Graffiti Ordinance In The City Of Miami Beach. Certificate of Occupancy Relative to Land. This Ordinance governs the development and use of all land and structures within the corporate limits of the City of Punta Gorda, Florida. The Proposers agree to the use of the Contract Documents incorporated into this RFP; provided however, the City shall have flexibility to modify the Contract.

Palm Beach Florida Surface Use Agreement (Contains Provisions Relative to Indemnity)

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