Real Estate Terms Sheet

Sure, I can provide some general guidance on the typical elements included in a terms sheet for the purchase of real estate and business:
*. Parties involved
*. Description of assets
*. Purchase price and payment terms
*. Closing date
*. Conditions to closing
*. Representations and warranties
*. Indemnification clauses
Please consult with a local attorney for detailed assistance.

An indemnification clause is a legal provision that ensures one party will cover the losses or damages encountered by another party. Typically, it serves to protect against losses or lawsuits that could potentially arise in the future due to the transaction.

An indemnification clause could look like this:
"Party A shall indemnify and hold harmless Party B, and its officers, directors, agents, and employees, from and against all claims, damages, losses, and expenses, including reasonable attorneys' fees, arising out of or resulting from the conduct of Party A's business, or from any activity, work, or thing done, permitted, or suffered by Party A in or about the premises, except to the extent such claims, damages, losses, or expenses are caused by the negligence or willful misconduct of Party B."
Please consult an attorney for a tailored clause.

In this context, Party A could be the seller. However, the specific designation depends on how your agreement is structured. It's important to clearly define who Party A and Party B are at the beginning of your agreement.

In the template provided, Party A could be either the seller or the buyer. The parties are determined by the specifics of the agreement. It's crucial to clearly outline who Party A and Party B are at the start of your agreement.