Res 1994-054 - Laserfiche WebLink

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JL(btJ obligations hereunder except for their obligation to indemnify the SMCISD as the Project Manager from any liability, loss, etc. as provided in Article 9 below. 8.04 In the event that any party or parties fail to pay any sum required to be paid by such party or parties pursuant to this Agreement, any other party shall be entitled, but not be obligated, to advance such funds not paid by the defaulting party. Any such advance shall be deemed a loan to the defaulting party by the party advancing the funds and shall accrue interest until paid at the maximum rate allowed under applicable law. ARTICLE 9 INDEMNIFICATION OF PROJECT MANAGER " 9.01 Subject to the provisions of Article 10 below, the City and TETCO hereby agree to indemnify and hold harml€ss the SMCISD, and its successors and assigns, from and against any liability, loss, cost, damages, expenses and/or attorneys' fees that the SMCISD may sustain or incur as a result of any actions, errors, omissions, or inactions committed by the SMCISD, while acting as the Project Manager or Owner, under the Construction Contract, and which are based upon any claims or causes of action of whatever kind or nature resulting from any personal injury or property damage, or based upon any claim by the Contractor, subcontractor, suppliers or any third party against the SMCISD in its capacity as proj ect Manager or Owner for any compensation or other amounts resulting from work performed on the proj ect. Each party's liability to indemnify and hold the SMCISD harmless under this Agreement shall be limited to a proportionate share of the loss, Tri-Party Agreement for Utility and Road Improvements 15