EXHIBIT
10.177
INDEMNITY AGREEMENT
This Indemnity Agreement is made as of the 9
th day of June, 2008 by Inland American Real Estate
Trust, Inc., a Maryland corporation (“Indemnitor”),
in favor of and for the benefit of Inland Real Estate
Acquisitions, Inc., an Illinois corporation
(“IREA”), and the other Indemnified Parties,
hereinafter defined.
RECITALS
WHEREAS, from time
to time Indemnitor approves for acquisition by Indemnitor,
and/or its affiliates, real estate transactions contracted for
by IREA (“Transactions”) under which IREA initiates
deposits of earnest money (“Earnest Money Deposits”)
with Chicago Title and Trust Company and/or Chicago Title
Insurance Company or other title insurance companies
(hereinafter collectively referred to as “Title
Companies”) in advance of Indemnitor’s approval of
such Transactions; and,
WHEREAS, upon Indemnitor’s approval of
Transactions it is appropriate for IREA to be indemnified by
Indemnitor in the event an Earnest Money Deposit is forfeited or
is claimed to be forfeited after such approval has been given;
and,
WHEREAS, Indemnitor is willing to indemnify IREA
for the loss of any Earnest Money Deposit incurred by IREA in
connection with a Transaction that has been approved by
Indemnitor and not resulting from IREA’s negligence or
misconduct.
NOW THEREFORE, in consideration of Ten and
no/100 Dollars ($10.00) in hand paid and for other good and
valuable consideration, the receipt and sufficiency of which is
hereby a
