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<br />February 28,2006 <br />Page 3 <br /> <br />All approvals of the Council required in connection with the formation or <br />operation of the Company will be conditioned upon the Company havingfurnished <br />a document or instrument setting forth its legally binding obligation (i) to <br />indemnifY and save harmless the PDC, its officers, directors, employees and <br />agents from and against any and all liabilities, obligations, claims, damages, <br />penalties, jines. losses, costs and expenses in any way connected with the <br />Company or the System, (ii) that the Company and its officers, directors, <br />employees and agents shall not obligate the PDC in any respect whatsoever in <br />connection with the Company or the System, including, without limitation, to the <br />payment of any moneys or the performance of any acts and (iii) that any covenant, <br />condition, warranty or agreement contained in any document, instrument or <br />agreement which the Company may execute, to which the Company may be a party <br />or relating to the Company or the System in any respect shall not be a covenant, <br />condition, agreement, warranty or obligation of the PDC or implicate it in any <br />respect. <br /> <br />In conclusion, the creation and operations of the Company -- which will promote <br />constructive, efficient, regional economic and physical infrastructure development benefiting <br />the citizens of Martinsville and Henry -- will be in furtherance of the purposes of the RCA. <br />Passing the resolution that Martinsville requests from the PDC to direct that the Company be <br />created is within the PDC's express statutory powers, and upon passage of such a resolution <br />there should be no need for any further action by the PDC with regards to the Company. <br /> <br />Thank you very much for your consideration and attention to this matter, and should <br />you have any questions regarding the foregoing, please do not hesitate to contact us. <br /> <br />Sincerely, <br /> <br />Robert R. Collins <br />City Manager <br /> <br />Attachments <br /> <br />Approved By: <br /> <br />Eric H. Monday, City Attorney <br />