Common use of Developer’s Indemnity Clause in Contracts

Developer’s Indemnity. Developer agrees to indemnify and hold harmless Owner from all liabilities, losses, interest, damages, costs or expenses (including, without limitation, reasonable attorneys' fees, whether suit is instituted or not and if instituted, whether incurred at any. trial or appellate level), threatened or assessed against, levied upon collected from or incurred by Owner arising from the default by Developer of any of its obligations hereunder, negligence, gross negligence or willful or wanton misconduct of Developer or any of the agents or employees of Developer. Notwithstanding the foregoing, Developer will not be required to indemnify Owner with respect to any liability, loss, damage, cost or expense to the extent that the same are adequately covered by proceeds of insurance maintained on the Project and Owner receives payment of such proceeds.