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<br />- <br /> <br />"'-" <br /> <br />the loan proceeds, U.S.E. shall, instead of remitting the amount of <br />such fee to the City, retain the same in a draw-down account. <br />Compensation due to U.S.E. with regard to such loan shall be drawn <br />by U.S.E. from said account to the extent funds are available <br />therein; provided, however, that no funds shall be so withdrawn <br />without the written approval of the Director as to the amount due <br />to U.S.E., which approval shall not be unreasonably withheld. Upon <br />the completion of the funding of the subject loan, the balance, if <br />any, in the draw-down account shall be remitted by U.S.E. to the <br />city. <br />6. INDEMNIFICATION <br />U.S.E. agrees to indemnify and hold harmless the City and its <br />officers and employees, from and against any and all loss or <br />damage, and from any and all suits, actions and claims filed or <br />brought by any person or persons, arising out of the negligent acts <br />or omissions of U.S.E. or of its subcontractors or of the officers, <br />agents, employees of U.S.E. or of its subcontractors in the <br />performance of this Agreement. <br />7. INSURANCE <br />with respect to performance of work under this agreement, <br />U.S.E. shall maintain and shall require its subcontractors, if any, <br />to maintain insurance as described below: <br />(1) Workers' compensation insurance with statutory limits, <br />and employer's liability insurance with limits of not <br />less than $1,000,000 per accident. <br />(2) Commercial general liability insurance, or equivalent <br /> <br />4 <br />