Recording Requested By And PRIVATE
When Recorded Mail To:
Steven J. Revitz
Raiskin & Revitz, A Partnership of
Professional Corporations
2049 Century Park East
Suite 3110
Los Angeles, CA 90067_________________________________________________________________
INDEMNITY AGREEMENT AND COVENANT
RUNNING WITH THE LAND
This Agreement ("Agreement") is entered into this ____ day of ___________________, 2008 by and between The Village Condominium Owners Association, Inc. (the "Association") and _____________________________________________________ ("Owner").
This Agreement is made with reference to the following facts.
RECITALSA. The Owner is the record owner of that certain condominium unit located within the Village Condominiums condominium project (the "Project") which is commonly known as _________The Village, Unit _______, San Pedro, California _________ (hereinafter the "Unit") and legally described in Exhibit "1" attached hereto which is incorporated herein by this reference.
B. On June 8, 1973 a Declaration Of Conditions, Covenants And Restrictions pertaining to the Project (the "CC&R's") was recorded with the County Recorder of Los Angeles County.
C. The Project is legally described in Exhibit "2" attached hereto which is incorporated herein by this reference.
D. Article VI, section 6.2 of the CC&R's states:
"No building, fence, wall or other structure or improvement shall be constructed or maintained upon the Project, nor shall any exterior addition, change or alteration be made in, on or to the Project, or any part thereof, by anyone other than Declarant, without the prior written approval of the Board."
E. Article II, section 2.5(e) of the CC&R's states, in relevant part:
"...The Association Rules shall govern the use of the Common Area by an Owner, by the family of such Owner, or by any invitee, licensee or lessee of such Owner..."
F. Owner seeks to have the work described in Exhibit "3" attached hereto (the "Work") performed in the Unit.
G. Owner must obtain the approval of the Association's Board of Directors (the "Board") to perform the Work.
H. The Board is willing to give its approval to Owner to perform the Work subject to the terms and conditions contained hereinafter.
I. Owner is willing to agree to and accept all of the terms and conditions of this Agreement in consideration for the Board's approval of the Work.
Now, therefore, in consideration of the foregoing and the conditions and covenants contained hereinafter, the parties do hereby agree as follows.
AGREEMENTS
1. The Board hereby approves the Work but conditioned on: (i) the Owner obtaining all necessary and appropriate building permits to perform the Work; (ii) the Work being performed only by contractors licensed in California to perform the Work (the "Contractor"); (iii) the Owner obtaining and providing the Board with a written statement from each Contractor at the conclusion of the Work stating that the portion of the Work it has performed has been completed in a workmanlike manner, in accordance with all applicable building codes and regulations and does not exceed the scope of the description of the Work in Exhibit "3" hereto; and paying the Association the sum of $_______ for its attorney's fees and costs incurred in connection with this matter.
2. Each Contractor performing any of the Work shall be required to have and maintain a general liability and property damage insurance policy in the amount of at least One Million Dollars ($1,000,000) covering any claim arising from or related to the Work (the "Policy").
3. The Contractor must provide the Board with a copy of the Policy before any of the Work is commenced.
4. Under no circumstance shall the Work include the removal or the disturbance of any asbestos containing materials.
5. The Owner shall be solely responsible for, and shall hold harmless, defend and indemnify the Association, the Board, all members of the Association and all of their respective employees, heirs, successors, grantees and assigns (hereinafter collectively the "Indemnitees"), of and from any and all claims, losses, injuries and/or damages to persons and/or property which may arise from or be related to the Work, both during and after performance of the Work, including mechanics' and/or material men’s lien claims.
6. The Owner shall perpetually maintain general liability insurance coverage of not less than $50,000 to cover any loss, injury or damages to persons and/or property which may arise from the Work. The Association shall be named as an additional insured on such insurance coverage as to the total amount of insurance coverage required pursuant to this paragraph. Said insurance coverage will provide that it may not be cancelled or lapse without thirty (30) days' prior written notice first having been given to the Association. In the event of cancellation or a lapse of said insurance coverage, the Association shall have the option of renewing or obtaining comparable coverage and paying the premiums therefore which, upon payment of each premium, shall become a lien against the Unit, as will the amount of any judgment or award against the Indemnitees arising out of, in connection with or related to the Work, which lien may be enforced in the same manner as any other assessment may be enforced pursuant to Article IV of the CC&R's.
7. The Owner shall maintain the Work in a safe condition at all times.
8. This Agreement shall in no way affect the CC&R's or any amendments thereto.
9. The parties hereby intend and agree that this Agreement shall be binding on their respective heirs, assigns, trustees, officers, directors, successors in interest, grantees, transferees, agents, servants and all persons obtaining any interest in the Unit and shall be deemed a covenant running with the Unit in favor of the Association and the Project.
10. It is hereby expressly declared, stipulated and agreed that the remedies at law to recover damage for any breach, default or violation of any of the covenants, conditions, restrictions, limitations, reservations, rights, or charges contained in this Agreement are inadequate and the failure of the Owner to abide by the same shall be deemed a nuisance and may be enjoined by appropriate proceedings.
11. In the event a legal action is commenced to enforce any of the terms, conditions and/or covenants of this Agreement, the prevailing party in such action shall be entitled to recover its/his/her reasonable attorney's fees and costs which attorney's fees may be deemed an item of costs pursuant to section l033.5 of the California Code of Civil Procedure.
12. In any legal action affecting or relating to this Agreement, venue shall only be proper in the Superior Court of the State of California for the County of Los Angeles.
13. This Agreement is entered into and shall be construed and interpreted under and in accordance with the laws of the State of California.
14. It is expressly understood and agreed between the parties that should any paragraph or any provision or portion of this Agreement be held to be invalid, illegal, void or unenforceable, then in such event, the paragraph(s), provision(s) or portion(s) of this Agreement held to be invalid, illegal, void or unenforceable shall be deleted from this Agreement and this Agreement shall be read as though such invalid, illegal, void or unenforceable paragraph(s), provision(s) or portion(s) was (were) never included herein; and the remainder of this Agreement, excluding such invalid, illegal, void or unenforceable paragraph(s), provision(s) or portion(s) shall nevertheless exist and continue in full force and effect.
15. This Agreement constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof and supersedes and replaces all prior agreements and understandings, whether oral or in writing. There are no other agreements, understandings, statements, representations or warranties of the parties, oral or written, except as expressly set forth herein, with respect to the subject matter of this Agreement, and none of the provisions herein may be modified, altered, amended, terminated, or waived, except by an instrument in writing executed by all of the parties hereto.
16. In interpreting this Agreement it shall be deemed to have been prepared by the parties jointly and no term or provision of this Agreement shall be interpreted for or against any party on the basis that it did or did not prepare this Agreement.
In witness whereof, the parties have executed this Agreement on the date and at the place first set forth above.
The Village Condominium
Owners Association, Inc.
By: _________________________
Authorized Representative
_________________________
Owner
_________________________
Owner
condo/vill1114.ind