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MAY -20 -1994 12:21 FROM SWEENEY BORER & OSTROW TO LITTLE CANADA <br />P.04/07 <br />NOW, THEREFORE, for and in consideration of the transfer by <br />the Association and the covenant to indemnify by the City, and <br />for other good and valuable consideration, receipt of which is <br />hereby acknowledged, the parties agree as follows: <br />1. Transfer of Ownership. The Association hereby sells, <br />assigns and transfers all of its right, title, interest and <br />ownership in the Fence to the City. The Association <br />acknowledges it is the owner of the Fence, that there are no <br />liens or other encumbrances attached to it, and that it has full <br />power and authority to make this transfer. <br />2. Acceptance. The City acknowledges it has made a full <br />and complete inspection of the Fence together with its <br />installation and location and expressly agrees to accept the <br />transfer of the Fence in its present condition and location and <br />agrees to assume all risks in connection with ownership. <br />3. Agreement to Indeznnifv and Ho],d Harmless. The City <br />agrees to assume all responsibility for the Fence, including, <br />but not limited to maintenance, upkeep and liability for any <br />bodily injury which may result from the Fence. The City agrees <br />to indemnify and hold harmless the Association, its officers, <br />directors, employees, successors and assigns (all herein <br />referred to as the Association) from and against any loss, <br />damage, claim, demand, suit, liability or expense (including <br />reasonable attorneys' fees) that arise out of or result from <br />injuries or death to persons or damage to property, in any way <br />-2- <br />Page 102 <br />