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<br />RELEASE, HOLD HARMLESS AND INDEMNIFICATION AGREEMENT <br /> <br />THIS AGREEMENT, entered into this 7 day of February, 2007, by and <br />between the City of Casselberry, a political subdivision of the State of Florida <br />(hereinafter referred to as "City") and Semoran Associates, Ltd. a Florida limited <br />partnership (hereinafter referred to as "Developer"). <br /> <br />RECITALS: <br /> <br />A. Developer is the owner of the property described in Exhibit "A" which is <br />attached hereto and made a part hereof (hereinafter referred to as the "Subject <br />Property"); and <br /> <br />B. Developer has submitted an application for approval by the City of a final <br />plat of the Property to be known as HB Comers, which plat is a prerequisite for the <br />issuance of certificates of occupancy for the five (5) retail establishments being built <br />within the retail building; and <br /> <br />C. City has issued a Certificate of Occupancy, and has further agreed to the <br />issuance of certificates of occupancy for the first four (4) of the retail establishments in <br />the Multi-Tenant Building on the condition that Developer release, indemnifY and hold <br />harmless City in the event the plat of the Subject Property is subsequently delayed or <br />denied; and <br /> <br />D. Developer has agreed to so release, indemnify and hold City harmless as <br />hereinafter provided. <br /> <br />NOW, THEREFORE, in consideration of the mutual covenants and promises <br />contained herein, the parties agree as follows: <br /> <br />1. Recitals. The Recitals are true and correct and are incorporated herein by <br />this reference. <br /> <br />2. Release. hold Harmless and indemnification A2reement. Developer <br />herewith agrees to release, hold harmless and indemnify City for any claims, liabilities, <br />losses, obligations, damages, penalties or costs, including, but not limited to reasonable <br />attorneys fees, consulting fees, survey fees, demolition fees, utility charges, etc. arising <br />from the issuance of certificates of occupancy for the Multi-Tenant Building and the <br />Starbucks Building prior to the recording of the final plat for the Subject Property. <br /> <br />3. Recordin2 of Plat. Developer agrees to take all actions necessary to <br />obtain final plat approval and record the plat of the Subject Property prior to the issuance <br />of a certificate of occupancy for the last tenant to occupy the Multi-Tenant Building. <br />Developer hereby grants the City the right to deny occupancy to the last tenant to occupy <br />