INDEMNIFICATION AGREEMENT

Transcription

1 INDEMNIFICATION AGREEMENT THIS INDEMNIFICATION AGREEMENT (herein, the Agreement ) is made and entered into this day of, 2013, by and between LONGBOAT TERRACE CONDOMINIUM ASSOCIATION, INC. (the Association ), whose address is 10 Bay Isles Road, #2, Longboat Key, Florida and (the Owner ), whose address is, being the record title holder of: Unit, LONGBOAT TERRACE CONDOMINIUM, a Condominium, according to the Declaration of Condominium recorded in Official Record Book 934, Page 304, and as per plat thereof recorded in Condominium Book 9, Page 639; in the Public Records of Manatee County, Florida (herein, the Unit ). WHEREAS, the Association is the entity responsible for the operation of LONGBOAT TERRACE CONDOMINIUM (herein, the Condominium ) and enforcement of the Amended and Restated Declaration of Condominium of LONGBOAT TERRACE CONDOMINIUM, as recorded in the Official Records of Manatee County, Florida at Book 158 and Page 1104 on June 15, 1998 (herein, the Declaration ); and WHEREAS, Article 8(b) of the Declaration requires the Owner to maintain, repair and replace, at the Owner s expense, all parts of the Unit that are not the responsibility of the Association. WHEREAS, Article 8(f) of the Declaration and Section (5), Florida Statutes, allow the Association, through its Board of Directors (the Board ) or persons designated by the Board, to enter the Unit during reasonable hours when necessary for the maintenance, repair, or replacement of any common elements or of any portion of a unit to be maintained by the Association or as necessary to prevent damage to the common elements or to the Unit or units. WHEREAS, the Board has requested, and the Owner has agreed, to the execution of this Agreement to allow the Association to enter and inspect the Unit during reasonable hours for reasons other than those set forth in Article 8(f) of the Declaration and Section (5), Florida Statutes, including, but not limited to, entering and inspecting the Unit during terms that the Unit is vacant to identify any structural, plumbing, HVAC, electric or utility issue that may exist even though same may not present an immediate risk of damage to the common elements or other units. NOW, THEREFORE, IN CONSIDERATION of Ten Dollars ($10.00) and other good and valuable considerations, the receipt and adequacy of which are hereby acknowledged, the parties do hereby covenant and agree as follows: Page 1 of 5

2 1. The clauses set forth above are true, correct and incorporated herein by reference. 2. In addition to the authority granted by the Declaration and Section (5), Florida Statutes, the Owner agrees that the Association, through its Board or persons designated by the Board, may, in its sole and absolute discretion, enter and inspect the Unit during reasonable hours to identify any structural, non-structural, plumbing, HVAC, electric, appliance or utility issue or problem that may exist even though same may not present an immediate risk of damage to the common elements or other units. 3. In the event the Board or persons designated by the Board observes anything which, in the observer s sole and absolute discretion, appears to present a risk of damage or further damage to the Unit, the Association may provide the Owner verbal notice at the following telephone number: ; written notice at the following address: ; or written notice at the following mailing address by regular U.S. mail:. 4. In the event the Association provides the notice contemplated in paragraph 3 above, the Owner shall have five (5) business days to either (a) acknowledge, in writing, the condition and agree to undertake, or engage someone qualified to undertake, such remedial or corrective work as may be necessary to correct or eliminate the condition; or (b) dispute, in writing, that the condition observed requires any attention or presents any risk to the Unit; 5. In the event the Owner fails to respond, in writing, within five business (5) days of the service of the notice contemplated in paragraph 3 above, the Association may proceed to take all reasonable steps to correct the condition and assess the Owner the costs of same. Any such amounts assessed to the Owner shall be due and payable by the Owner within thirty (30) days of service of an invoice for same. In the event the Owner fails to pay such amounts within thirty (30) days of service of an invoice for same, the amounts due shall become a lien against the Unit. Further, all amounts delinquent shall accrue interest at the highest rate allowed by law. 6. To the extent the Association, its officers, directors, managers and management company, agents or employees proceed to enter and inspect the Unit or remediate or correct any condition, the Owner covenants and agrees to indemnify, hold harmless and defend the Association, and its officers, directors, managers and management company, agents and employees, other unit owners and all institutional mortgagees from and against any and all claims, damages, losses, expenses, causes of action and liabilities, together with any and all attorney s fees and costs, that may be asserted arising out of or in connection with the entry, inspection or work incidental thereto. 7. To the extent the Owner disputes, in writing, that the condition observed requires any attention or presents any risk to the Unit, the Owner agrees to indemnify, hold harmless and defend the Association, and its officers, directors, managers and management company, agents and employees, other unit owners and all institutional mortgagees from and against any and all claims, damages, causes of action and liabilities, together with any and all attorney s fees and costs, that may be asserted arising out of or in connection with any subsequent damage or injury incurred as a result of the reported condition. 8. The Owner agrees that the authority granted the Association herein does not and shall not impose upon the Association, its officers, directors, managers or management company, agents, Page 2 of 5

3 employees, or other unit owners any obligation or duty to enter and inspect the Unit at all or at any specific time periods and, further, does not create any duty or obligation for the Association its officers, directors, managers or management company, agents, employees, or other unit owners to remediate or correct any condition observed by the Board or persons designated by the Board. 9. The parties acknowledge that they have entered into this Agreement freely and voluntarily and without coercion or undue influence. 10. This Agreement shall be governed by, construed, and enforced in accordance with the laws of the State of Florida. In any dispute arising out of this Agreement, the prevailing party shall be entitled to recover its attorney s fees, including appellate attorney s fees, from the other. The prevailing party shall be deemed to be the party recovering a net positive judgment, obtaining injunctive relief or specific performance in its favor or having this Agreement enforced in accordance with its position 11. This Agreement shall (a) supersede all prior negotiations, agreements, and understandings between the parties to this Agreement with respect to its subject matter; (b) constitute the entire agreement between the parties to this Agreement with respect to its subject matter; and (c) may not be altered or amended except in writing signed by all parties to this Agreement. 12. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, and it shall not be necessary in making proof of this Agreement or its terms to produce or account for more than one of such counterparts. IN WITNESS WHEREOF, the Owner and the Association have caused this Covenant to be executed and signed the day and year first set forth above. [INTENTIONALLY LEFT BLANK] Page 3 of 5

4 Signed, sealed and delivered in the presence of: Sign: Print: Sign: Print: Owner Owner The foregoing instrument was sworn to and acknowledged before me this day of, 2013, by who is personally known to me or has produced as identification. Sign Print The foregoing instrument was sworn to and acknowledged before me this day of, 2013, by who is personally known to me or has produced as identification. Sign Print Page 4 of 5

5 LONGBOAT TERRACE CONDOMINIUM ASSOCIATION, INC. By: Print: As its President Attest: Print: As its Secretary (Corporate Seal) The foregoing instrument was acknowledged before me this day of 2013 by, as the President of LONGBOAT TERRACE CONDOMINIUM ASSOCIATION, INC., a Florida Corporation not-for-profit, on behalf of the corporation. She\He is personally known to me or has produced as identification. Sign Print The foregoing instrument was acknowledged before me this day of, 2013 by, as the Secretary of LONGBOAT TERRACE CONDOMINIUM ASSOCIATION, INC., a Florida Corporation not-for-profit, on behalf of the corporation. She\He is personally known to me or has produced as identification. Sign Print Page 5 of 5