|
Exhibit 10.2
ENVIRONMENTAL INDEMNIFICATION AGREEMENT THIS
ENVIRONMENTAL INDEMNIFICATION AGREEMENT (“Agreement”)
is executed to be effective as of August 28, 2008 (the
“Effective Date”) by and among BANK RENTALS, LLC
(“Lessor”) and Charles L. Moore, II
(“Moore” and, collectively with Lessor,
“Indemnitors”) and 1ST INDEPENDENCE BANK, INC.
(“1st Independence”). WHEREAS, contemporaneously
herewith, 1st Independence and Lessor have entered into a lease
agreement (the “Lease”) with respect to that certain
real estate located at 1711 East 10th Street, Jeffersonville,
Indiana (the “Premises”). NOW THEREFORE, in
consideration of the foregoing and other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, Indemnitors and 1st Independence hereby agree as
follows:
1. Definitions.
As used herein, the following terms have the following meanings:
1.1. Clean-Up: Removal
and/or remediation of Contamination required by applicable
Environmental Laws and in accordance with good commercial practice.
1.2. Contaminants: All
substances and compounds of the type, quantity or condition
prohibited or reportable under any Environmental Law, including
without limitation, materials containing asbestos or urea
formaldehyde, explosives, gasoline and petroleum products, and
radioactive materials.
1.3. Contamination: The
presence of, disposal, discharge or release on, from or

|