General Release and Indemnification
GENERAL RELEASE AND INDEMNIFICATION
WHEREAS, the above named Association (hereinafter Association) has a contractual relationship with ______________________, (hereinafter Management) whereby ____________________ performs services as the managing agent for the Association; and
WHEREAS, ________________________ is contractually obligated to advise the Association Board of proper operational procedures so that the said Board will comply with its legal and fiduciary obligations; and
WHEREAS, ________________________ obligation is limited to the rendering of advice to the Association Board, with the Board then being free to either accept or reject the said advice; and
WHEREAS, Association is contractually obligated to comply with ________________________ requirements that vendors and contractors provide proof of liability and worker’s compensation insurance, as well as the requirement of the Internal Revenue Service that vendors and contractors provide a W-9 form to the Association; and
WHEREAS, a major element of the management duties rendered by ____________________, is to assist the Association in the procurement of contractual services for the many and varied needs of the Association such as, but not limited to, landscaping, pool service and general maintenance contracts; and
WHEREAS, it is ___________________________ advice to the Association that no vendor or contractor should be hired unless, at a minimum, the vendor or contractor has or procures the following;
1. A completed IRS W-9 form providing Federal Tax I.D. Number or Social Security Number for vendor, contractor or individual to whom checks will be made payable. This is an Internal Revenue Service requirement and is not an option.
2. Full workers’ compensation insurance, if work will be performed on Association property; and
3. Liability Insurance if work will be performed on Association property.
WHEREAS, the Association has determined to hire the services of the below listed contractor even though the subject contractor does not have the insurance requirements listed above and even though the Association Board has been informed by _______________________ that, in ________________________ opinion, the Association should not do so; and
WHEREAS, in order to reflect that the Association Board received said advice and further to protect ___________________________ from any liability which may arise from the hiring of the below listed vendor or contractor, the Association has voluntarily executed this General Release and Indemnification agreement.
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable considerations the receipt and sufficiency of which is hereby acknowledged, the Association agrees as follows:
1. The above Whereas clauses and preamble are hereby fully incorporated herein as fully as if the same had been retyped into the body of this agreement.
2. The Association hereby confirms the receipt of the above described advice relating to the requirements for the hiring of all vendors or contractors and particularly the hiring of the below listed contractor.
3. The Association hereby confirms that, notwithstanding the above advice, it will and/or has hired the below listed vendor or contractor even though the same does not have the above listed items.
4. Based on the above action, the Association hereby indemnifies and saves harmless, ___________________________, and it officers, agents, servants or employees from and against any and all liability, claims, demands, damages, expenses, fees, fines, penalties, suits, proceedings, actions and costs of actions including attorney’s fees, of any kind and nature arising or growing out of or in any way connected with the hiring of the below listed vendor or contractor.
5. This agreement shall be binding upon the Association and its assigns and successors in interest, and shall inure to the benefit of ___________________________, and its assigns and successors in interest.
Print Name of Assn Board Member Signature of Assn Board Member
Name of Vendor/Contractor: ___________________________________________________________________________________