Sec. 7.5. (a) This section applies to a transaction that involves a parcel of real estate that is owned or leased by a unit and the unit or a board, an agency, a department, a commission, or other division of the unit has determined in a resolution, an ordinance, a lease, a contract, or other written instrument that the parcel of real estate:

(1) may have environmental contamination:

Terms Used In Indiana Code 36-1-4-7.5

  • Contract: A legal written agreement that becomes binding when signed.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(A) that occurred during or before the time the unit owned or leased the parcel of real estate; and

(B) for which the unit may be liable under applicable laws; and

(2) will be used in connection with an economic development project that will:

(A) promote opportunities for employment of the citizens of the unit;

(B) attract new business enterprises to the unit; or

(C) retain or expand a business enterprise within the unit.

     (b) Except as provided in IC 26-2-5-1 and notwithstanding defenses available and immunity provided in IC 34-13-3, a unit may enter into a contract or lease that contains a provision, a clause, a covenant, a promise, or an agreement by the unit to defend or indemnify any person against any claim, cause of action, demand, cost, judgment, or other loss of any kind provided for under the terms of the contract.

     (c) A unit may not indemnify a person against any claim, cause of action, demand, cost, judgment, or other loss resulting from environmental contamination of the parcel of real estate caused by the negligence or willful misconduct of the indemnified person occurring after the effective date of the indemnification.

     (d) Nothing in this section may be construed to limit any rights that a unit may have to defend or indemnify a person under any other law.

As added by P.L.123-1996, SEC.18. Amended by P.L.1-1998, SEC.201.

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