Indemnify and hold harmless the Borough, its elected and appointed officers, agents, servants and employees from and against any and all claims, demands or causes of action of whatsoever kind or nature, and the resulting losses (including personal injury, property damage or death), costs, expenses, reasonable attorney's fees, liabilities, damages, orders, judgments or decrees sustained by the Borough or any third party arising out of or by reason of or resulting from any act (or failure to act) by an applicant, owner or service provider or his duly authorized servants, agents, employees or designated representatives; and