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YS> INDEMNIFICATION AND INSURANCE AGREEMENT <br />a <br />BY AND BETWEEN <br />THE CITY OF NEWPORT BEACH AND <br />FIGTREE COMPANY, INC. <br />This Indemnification Agreement (the "Agreement") is entered into by and between the <br />City of Newport Beach, a municipal corporation, duly organized and existing under the <br />laws of the State of California and Charter of City (the "Public Entity'), and Figtree <br />Company, Inc., a California corporation, the administrator of the Figtree Property <br />Assessed Clean Energy and Job Creation Program (the "Administrator"), which is a <br />program of the California Enterprise Development Authority, a California joint exercise <br />of powers authority (the "Authority"). <br />WHEREAS, the Authority is a joint exercise of powers authority whose members <br />include the Public Entity in addition to other cities and counties in the State of <br />California; and <br />WHEREAS, the Authority established the Figtree Property Assessed Clean <br />Energy and Job Creation Program (the "Figtree PACE Program") to allow the financing <br />of certain renewable energy, energy efficiency and water efficiency improvements that <br />are permanently affixed to real property through the levy of assessments voluntarily <br />agreed to by the participating property owners pursuant to Chapter 29 of Division 7 of <br />the Streets and Highways Code ("Chapter 29") and the issuance of improvement <br />bonds, or other forms of indebtedness, under the Improvement Bond Act of 1915 upon <br />the security of the unpaid assessments; and <br />WHEREAS, the Authority has conducted or will conduct proceedings required by <br />Chapter 29 with respect to the territory within the boundaries of the Public Entity, and <br />WHEREAS, the legislative body of the Public Entity adopted or will adopt a <br />resolution authorizing the Public Entity to join the Figtree PACE Program; and <br />WHEREAS, the Public Entity will not be responsible for the formation, operation <br />and administration of the Figtree PACE Program as well as the sale and issuance of <br />any bonds or other forms of indebtedness in connection therewith, including the <br />conducting of assessment proceedings, the levy and collection of assessments and <br />any remedial action in the case of such assessment payments, and the offer, sale and <br />administration of any bonds issued by the Authority on behalf of the Figtree PACE <br />Program; and <br />12 <br />