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... F <br /> PART VII <br /> INDENfNMCATION LETTER OF AGREEMENT <br /> The Mayor of the City of Arden Hills <br /> and Members of the City Council <br /> City of Arden Hills <br /> 1245 Highway 96 } <br /> Arden Hills,MN 55112 3 <br /> 3 <br /> RE. Application of for Tax Exempt Revenue Bond Financing by the City of <br /> Arden Hills <br /> Dear Mayor and Members of the City Council: <br /> This letter of agreement is given by , a under the <br /> laws of Minnesota ("Applicant") as required by the City of Arden Hills, Minnesota in connection _ <br /> with its consideration of an application for tax exempt revenue bond financing for the project <br /> described in the application. <br /> Applicant agrees as follows: <br /> 1. Applicant agrees to pay or reimburse the City for any and all costs and expenses which the <br /> City may incur in connection with its consideration of the project and the granting of tax <br /> exempt revenue bond financing therefor,whether or not the project is preliminarily approved <br /> by the City,whether or not the project is approved by the State of Minnesota, whether or not - <br /> revenue bond financing is finally approved by the City, whether or not the bonds are issued <br /> and sold,and whether or not the project is carried to completion. <br /> 2. Applicant agrees to indemnify and hold the City, its officers, employees and agents harmless <br /> against any and all losses, claims, damages, expenses or liabilities, including attorneys fees <br /> incurred in their defense, to which the City, its officers, employees and agents may become <br /> subject in connection with the City's consideration, issuance or sale of the bonds for <br /> Applicant's project and the carrying out of the transactions contemplated by this agreement <br /> and any resolutions adopted, or agreements executed by the City in connection with the <br /> issuance of its bonds for this project. <br /> 3. Applicant hereby releases the City,its officers,agents and employees from any claims,causes <br /> of action, losses, damages, or liabilities which it may have against the City, its officers, <br /> agents, and employees or which it may incur in connection with: the City's consideration of <br /> the application for industrial development revenue bond financing for Applicant's project;the <br /> failure of the City, in its discretion,to issue tax-exempt revenue bonds for Applicant's project; <br /> the issuance and sale of the bonds; the construction of the project; or any other matter or thing <br /> of any type or nature whatsoever which may arise in connection with the foregoing. <br /> 14 <br /> s <br />