Indemnity and Hold Harmless Affidavit
Indemnity and Hold Harmless Affidavit
For Use With Prior Survey on Commercial Property
This Affidavit is made this ___ day of _________ of _____ , by ____________ , Seller/Owner herein, and Applicant, to The Title Group, Inc. and First American Title Insurance Company, herein collectively called “The Title Company”, upon the following terms and conditions expressed:
1. PURPOSE. The purpose of this Affidavit is to induce The Title Company to give affirmative coverage over matters of survey without taking exception to matters that a current survey might reveal.
2. PROPERTY. Applicant is the owner of certain real property situated in ______________ County, State of Alabama, more particularly described as follows:
In lieu of providing a current survey of the property, Applicant does hereby depose and say that the survey by __________________ , dated __________ , is correct as to the location of all easements, building setback lines and improvements to the property, and that no other buildings or improvements have been added to the property.
3. TITLE INSURANCE POLICY. In consideration of this affidavit of indemnity, The Title
Company hereby agrees to issue, in accordance with the established underwriting procedure of the Company its policies of title insurance without exception to matters that a current survey might reveal.
4. INDEMNITY. Applicant does hereby agree to indemnify and hold The Title Company harmless for any and all claims arising over matters not disclosed by the survey dated _________ (referenced above) that would be revealed by a current survey of the property referenced above. Applicant obligates itself to pay any loss or expense incurred, including the cost of Court and other defense costs, including but not limited to The Title Company’s attorney fees, witness fees, Court costs and other reasonable incidental expenses that are incurred as a result of matters not disclosed by the survey dated ______________ .
Executed this ____ day of ___________ , 20____.
Seller:
___________________________
Sworn to and subscribed to before me this ____ day of ____________ , 20____.
____________________________
Notary Public
My commission expires: _______
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