Ok, I've tried to have these questions answered everywhere with no success, so I humbly ask you guys.

An independent record label has expressed interest in my music. The way I have done it with other indie labels has been to issue them a mechanical license to press, distribute and sell my music(usually in the form of a four-song ep)in exchange for a fee. For a five year period they can do with the tracks as they please.

This label however, wants perpetual ownership of the tracks. Has anyone ever heard of this?
Company shall have the exclusive, perpetual and worldwide ownership of the Masters
and all records manufactured therefrom.
I take it as meaning ongoing, lifetime, infinite. Correct?

Instead of a "fee" they want to give me an "advance" which is 100% recoupable from the royalties. In other words, if my record doesn't sell enough for the company to recoup the advance money they gave me upfront, I will owe the company the remainder. Is this correct?

And this one is quite scary.

INDEMNIFICATION: Artist agrees to indemnify Company against, and hold Company harmless from, any and all claims, liabilities, causes of action, damages, reasonable expenses, costs of defense (including reasonable attorneys' fees and court costs) and other costs arising out of or in any way related to any breach or claimed breach of any representation, warranty or agreement by Artist contained in this Agreement. Artist agrees that Company may withhold sums otherwise due to Artist hereunder in amounts reasonably related to such claim(s) until such time as such claim(s) are reduced to a final judgment by a court of competent jurisdiction or are settled.

Any one her knowledgeable on any of this? Damn ASCAP couldn't even help me and I'm too broke for a lawyer.

And how can I be assured that my record will be promoted and pushed aggressively and how do I write such a clause in the contract?