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40 40 •0 Messrs. Davis and Davis February , 1982 Page Four tain a statement substantially to that effect upon its face. the Issuer shall not be required to incur any expense with respect to the Project or the bonds unless requested..to do so by you, in which event you hereby agree to reimburse the full amount of such expense to the Issuer; and the Issuer may require payment to it of such amount as a prerequisite to its incurring any such expense. ' --In accepting this proposal, you thereby agree to indem- nify and defend the Issuer and hold the Issuer harmless against any and all claims, losses, liabilities or damages to property or any injury or death of any person or persons occurring in connec- tion with the construction, equipment and operation of the Project, or in any way growing out of or resulting from this pro- posal (upon its becoming an agreement, if accepted) including, without limitation, all costs and expenses of the Issuer, including reasonable attorneys' fees, incurred in the enforcement of any of your agreements herein contained. This indemnity shall be superseded by a similar indemnity in the Agreement and, in the event the bonds are not delivered, this indemnity shall survive the termination of the agreement resulting from your acceptance of this proposal. _ 7. If it becomes evident at any time, in the opinion of bond counsel to the Issuer, that the interest on the bonds will not be exempt from federal income taxation on the proposed date of delivery of the bonds, and/or that you are or will be inca- pable of or unwilling to perform your obligations under the Agreement and Note, when executed and delivered, this proposal, if accepted by you, may be terminated at the option of the Issuer, and neither party shall have any rights against the other and no third party shall have any rights against either party except as provided in paragraphs 5(a), (b) and (c) of this proposal. If this proposal shall be satisfactory to you, please execute and date the acceptance statement below, and provide an accepted copy to the Issuer, whereupon this proposal will consti- tute an agreement in principle with respect to the matters herein contained.