HomeMy WebLinkAboutCardinal Construction, Inc.-Hold Harmless Agreement-01.14.2008 Poog
HOLD HARMLESS AGREEMENT
This Hold Harmless Agreement(the"Agreement") is entered into between the City of Waterloo,
Iowa(the"City")and Cardinal Construction, Inc. (the"Company")as of January /4/ , 2008.
RECITALS
A. Company is the owner of real property in Block 4, Original Plat, on the East side of the
Cedar River, in the City of Waterloo, Black Hawk County, Iowa(the"Property").
B. City formerly had an interest of record in a part of the Property, and during the period of
its ownership certain judgment liens attached to the Property pursuant to judgments entered in case nos.
EQCV096221 and CVCV093859(collectively,the"Judgments"). The Judgments are currently being
appealed.
C. The City desires to enter this Agreement to provide assurance to Company and its
successors in interest that no loss will be suffered as a consequence of liens of the Judgments.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and other good and valuable consideration,
the receipt and sufficiency of which is acknowledged,the parties agree as follows:
1. City agrees to indemnify Company and to hold it harmless from and against any and all
claims, demands,judgments, costs, or expenses(including reasonable attorney's fees)(each of the
foregoing being a"Claim")arising out of or in any way connected with the Judgments. Company shall
promptly notify the City Attorney's office upon receipt of any Claim.
2. This Agreement shall inure to the benefit of and be binding upon the parties and their
respective successors and assigns.
3. This Agreement may be signed in one or more counterparts, each of which shall be
deemed an original and all or which,taken together, shall constitute one instrument.
IN WITNESS WHEREOF,the parties have executed this Hold Harmless Agreement by their duly
_ _ authorized representatives as of the date first set forth above.
CITY OF WATERLOO, IOWA CARDINAL CONSTRUCTION, INC.
By: By:
Timothy J. Hu v ayor Tit •
Attest:
Nancy cke ity Clerk
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