I/We the undersigned declare that the above statements are true and correct. I/We hereby apply to Surety for a bond or bonds, continuances, renewals, additions and/or increases. I/We agree individually and as a firm to fully indemnify and hold harmless Surety from and against any and all claims, demands or legal expenses of any kind or nature which arise by reason of the execution of bond(s) issued pursuant to this Application, including attorney fees and costs incurred by Surety in enforcing the terms of this Application. An itemized statement of loss and expenses incurred by Surety, sworn to by an officer of Surety, shall be prima facie evidence of the fact and extent of my/our obligation to Surety. At any time Surety may demand from the undersigned a monetary sum to secure any actual or contingent liability or claim pertaining to the bond.
I/We authorize Surety as well as its successors and assigns to adjust, settle or compromise any claim, demand, suit or judgment upon said bond(s) and defend such suit and appeal such judgment or at Surety's election to have the case, cross-action or proceeding, or any part of it or any appeal, writ of error, certiorari or any part thereof dismissed. Surety may demand from Principal and/or indemnitors sufficient collateral to discharge any claim against Surety by reason of such suretyship. This sum may be used by Surety to pay such claim or be held by Surety as collateral security against loss.
I/We understand that the bond(s) applied for is a credit relationship, and authorize Surety, or its authorized agents, to gather such credit information as it considers necessary and appropriate for the purposes of evaluating whether such credit should be granted and/or continued. Each of the undersigned, jointly and severally, agrees to be bound by the terms of the foregoing Indemnity Agreement as fully as though each of the undersigned were the sole applicant named herein. I/We specifically consent to the rate quoted by Surety regardless of whether said rate is filed, unfiled, special, non-standard or any deviation from rates historically offered for similar risks. I/We furthermore understand that broker or agent fees may be included in the quote and to those likewise specifically consent. An electronic, facsimile or scanned copy of this agreement shall be treated as an original for all purposes.