Common use of Gap Indemnification Clause in Contracts

Gap Indemnification. The Owner hereby agrees to hold harmless and indemnify the Title Company against any loss, cost, expense, claim, or damage arising by reason of any material incorrectness in the Gap Paragraph herein, provided, however, that this agreement is (and such indemnification shall be) conditioned upon the Title Company exercising all due diligence and dispatch in promptly recording the Conveyance Instrument. [[OPTIONAL INDEMNIFICATION: The following indemnification is to be given by the Owner if there is disclosure of maintenance and repair furnished by or on behalf of the Owner.]]