EXHIBIT 10.39 In October, 1998, the Company entered into the attached indemnity agreement with each of the then current directors of the Company. INDEMNITY AGREEMENT AGREEMENT, as of October __, 1998 (the "Agreement"), between AvalonBay Communities,...Indemnification & Liability • March 31st, 1999 • Avalonbay Communities Inc • Real estate investment trusts • Maryland
