8447-93 Authorizing Economic Development Revenue (P.A.I. Properties $450,000)

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not be obligated to) remedy such default for the account of the Borrower and make advances for that purpose from the Construction Fund or the Bond Fund, as the case may be. No such performance or advance shall operate to release the Borrower from any such default, and any sums so advanced by the Trustee shall be repayable by the Borrower on demand and shall bear interest at two percent (2%) above the National Prime Rate, adjusted monthly on the first day of the month, from the date of the advance until paid. Section 3 . 14. Indemnity. To the extent permitted by law, the Borrower will pay, and protect, indemnify and save the Issuer and the Trustee harmless from and against, all liabilities, losses, damages, costs, expenses (including attorneys' fees and expenses of the Issuer and the Trustee) , causes of actions, suits, claims, demands and judgments of any nature arising from: (1) any injury to or death of any person or damage to property resulting from or connected with the use, non-use or condition of the Facilities or Mortgaged Property or a part thereof; (2) violation of any agreement or condition of this Loan Agreement or the Indenture, except by the Issuer or the Trustee; (3) violation of any contract or agreement by the Borrower relating to the Mortgaged Property; (4) violation of any law, ordinance or regulation arising out of the ownership or use of the Mortgaged Property or a part thereof; (5) the acquisition and construction of the Facilities or the failure to acquire or construct the Facilities; and (6) any statement or information concerning the Borrower or Mortgaged Property, contained in any statement or prospectus furnished to purchasers of any Bonds, that is untrue or incorrect in any material respect, and any omission from any such statement or prospectus of any statement or information which should be contained therein for the purpose for which the same is to be used or which is necessary to make statements therein concerning the Borrower or its directors, officers and employees not misleading in any material respect. Furthermore, no covenant or agreement contained in this Agreement, the Bonds or the Indenture shall be deemed to be a covenant or agreement of any member of the Commission or of the legislative body of the Issuer or of any officer or employee of the Issuer or its legislative body in his or her individual capacity, and neither the members of the Commission or the legislative body of the Issuer nor any officer or employee of the Issuer executing the Bonds shall be liable -21-