§ 15.108.040 — Contractual assumption of the risk of flooding

15.108.040 Contractual assumption of the risk of flooding.

As of July 6, 1998, no building permit shall be issued for any new construction or substantial improvements located in a special flood hazard area, unless the owners of the new construction or substantial improvements execute an agreement with the city, in a form acceptable to the city attorney, whereby such persons: A. Are notified of and expressly acknowledge and assume the risk that the new construction or substantial improvements may be subject to flood-related property damage; B. Unconditionally waive any claim of liability on the part of the city, or its officers, agents, or employees for any flood-related property construction or substantial improvements, whether or not the issuance of the permit is due to the negligence of the city, or its officers, agents, or employees; C. Expressly agree, in connection with the transfer of an ownership or possessory interest in the new construction or substantial improvements, to notify the transferee of the flood danger and obtain on behalf of the city the transferee's waiver of any claim for flood-related property damage premised on the issuance of a permit for the new construction or substantial improvements; and D. Agree to defend, hold harmless, and indemnify the city and its officers, employees, and agents from and against any and all claims for any flood-related property damage premised on the issuance of a permit for the new construction or substantial improvements; provided that the indemnifiers shall be released from this indemnification pledge if, at such time as the city seeks to enforce this pledge, the indemnifiers demonstrate that they no longer have any legal or equitable interest in the new construction or substantial improvements and have fully complied with the provisions of the agreement requiring that they give notice of the flood danger to third parties obtaining an interest in the new construction or substantial improvements. (Ord. 2011-046 § 3; Ord. 98-022 § 8; prior code § 9.27.1104)