The applicant hereby assumes all risks incident to or in connection with its business to be conducted throughout the application and development process, and agrees to indemnify, defend and save harmless the West Virginia Public Port Authority, its members, officers, employees and agents, from any and all claims, suits, losses, or damages for injuries to persons or damage to property of whatsoever kind or nature rising directly or indirectly out of the operation of the "Port District", by its members, officers, employees or agents.
W. Va. Code R. § 166-1-4