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INDEMNITY AGREEMENT FOR STRATA LOT AND COMMON PROPERTY ALTERATIONS (From the BC Strata Property Practice Manual, The Continuing Legal Education Society of British Columbia, May 2008, March 2011.).

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How to fill out the Sample Indemnity Agreement online

Filling out the Sample Indemnity Agreement is a straightforward process that requires attention to detail to ensure all necessary information is provided. This guide will assist you in navigating through each section of the form, ensuring a smooth submission process.

Follow the steps to successfully complete the Sample Indemnity Agreement online.

  1. Press the ‘Get Form’ button to access the Sample Indemnity Agreement and open it in your preferred online editor.
  2. In the first section, fill in your name(s) as the owner(s) of the strata lot as well as the strata lot number and unit number. Include your complete address including city and province.
  3. Acknowledge by checking the box or confirming that you have read the registered bylaws of the strata corporation.
  4. Provide a comprehensive description of the proposed alteration in the appropriate field. If additional space is needed, attach any drawings or specifications detailing the proposed changes.
  5. Agree to the stipulations regarding the strata council's right to approve or amend your proposed alterations. This confirms your understanding of their discretion.
  6. Verify that if the works are approved, all construction will comply with applicable legal building codes. You are required to submit any necessary permits, inspection certificates, and insurance documents before proceeding.
  7. Confirm understanding that the proposed works are not covered by the strata corporation’s insurance and ensure these alterations are insured under your homeowners' policy.
  8. Acknowledge your responsibility for all costs associated with the alterations, including maintenance as outlined in the bylaws.
  9. Agree that should the alterations lack proper maintenance or repairs, the strata corporation may intervene, and associated costs will be charged to you.
  10. Indemnify the strata council and corporation by accepting responsibility for any claims related to the works as detailed in the agreement.
  11. If selling your strata lot, commit to informing potential purchasers of these terms and including the necessary clauses in any sales contract.
  12. Finally, confirm your agreement to abide by the terms set out in the document and the bylaws, and proceed to review, save, or submit your filled agreement.

Complete the Sample Indemnity Agreement online today and ensure a smooth alteration process.

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I agree, for myself and my heirs, to indemnify and hold harmless the Releasees from any loss, claims, action, causes of action, or proceedings of any kind which may be initiated by me or by any other person, entity or organization, including demands, judgments, costs, loss of services, expenses, or reimbursement of ...

Example 1: A service provider asking their customer to indemnify them to protect against misuse of their work product. Example 2: A rental car company, as the rightful owner of the car, having their customer indemnify them from any damage caused by the customer during the course of the retnal.

Key terms in indemnity agreements include: Names and addresses of the parties. Contract agreement date. Contract recitals and purpose. Exchange of consideration. Scope of coverage. Limitation of liability. Indemnification clause. Indemnification exceptions.

An Indemnity Agreement (also known as a Hold-Harmless Agreement) protects someone from liabilities, losses, claims, or damages when conducting a service, transaction, or activity with another party. In simple terms, indemnity refers to one party compensating another for their losses.

“[Company/Business/Individual Name] shall fully indemnify, hold harmless and defend _______ and its directors, officers, employees, agents, stockholders and Affiliates from and against all claims, demands, actions, suits, damages, liabilities, losses, settlements, judgments, costs and expenses (including but not ...

There are 3 levels of indemnification: broad form, intermediate form, and limited form. This requires the indemnitor to pay not only for its liabilities but also for the indemnitee's liability whether the indemnitee is solely (i.e. 100%) at fault or partially at fault.

Indemnification clauses allow a contracting party to: Customize the amount of risk it is willing to undertake in each transaction and with every counterparty. Protect itself from damages and lawsuits that are more efficiently borne by the counterparty.

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