Indemnitor's Agreement Form

  • Indemnitor's Information

  • Creditor Reference: (bank, car, cell phone, credit card, mortgages, etc)

  • INDEMNITY AGREEMENT

  • In consideration of the All Out Bond Company, LLC (hereinafter called the Company or Surety) executing or procuring the execution or guaranteeing. or continuing the bond, described in the foregoing statement, or any renewal thereof, we the undersigned hereby jointly and severally covenant and agree as follows:
    I. SUMMARY: I have asked the Company to release the Defendant and I accept responsibility for presenting the defendant to court each and every time ordered. I will also indemnify and hold the Surety harmless from any and all losses incurred as a result of writing the bond, including any attorney’s fees and court cost which the surety may incur if a court action is necessary to collect under the contract. The surety may withdraw contract at any time by arresting and surrendering the defendant. The terms if this contract is indefinite. Your responibility will continue-no matter how long it may be-until the surety ill relieved of liability for the bond and all cost have been paid. ------------

    2. That we will immediately pay to the Company as premium for the issuance of said bond 10%.That any premium paid for this bond is not returnable. Said premium charge covers the risk undertaken by the company and does not cover any disbursements or special services that may be required for the protection of the Company. Also,I have asked the surety to post my bond and I have placed myself freely and voluntarily in custody and control of the surety.
    3. That in any suit between the undersigned and the Company to recover any sum of money under this agreement, the vouchers of other evidence showing payment by the Company of any sum of money under and by virtue or such bond or undertaking, whether in payment or a valid claim or not, or the payment of any disbursements in connection with any valid or invalid claim made under such bond or undertaking, shall be conclusive evidence agains us for the fact and the amount of our liability to the Company hereunder.

    4. The undersigned pledge any collateral security deposited by them and authorize the Company to apply or sell the same to reimburse it for any and all damages, loss, cost, charges and expenses of whatsoever kind of nature including any reasonable service charge or attorney’s fee, which it may sustain or incur by reason of having executed the bond herein applied for, or by reason of any failure on the part of the said principal or this depositor to comply with the terms and conditions of any agreement or covenant herein contained, and to hold, apply or sell the same, or any part thereof, to protect or reimburse it, by reason of the execution heretofore or hereafter of any other bond, for or on behalf of the principal or the depositor, and to apply and sell the same for the purpose of placing itself in funds or protecting itself against any claim, demand or loss under said bond or any other bond executed on behalf of the principal or depositor. That if the Company deems it necessary to make any outlay to protect any collateral or security in its possession, wether the same be real or personal property, it is hereby authorized so to do, and the undersigned agrees to indemnity and reimburse the Company for any such outlay as in the judgment of the Company may be necessary to protect its collateral or security, including payment of taxes or liens or mortgages and any attorney or counsel fees or service fees for time spent and/or special services rendered.

    5. That if a deed to a parcel of property be pledged as security with the Company, for any bond and should the Company become liable to pay on said bond, said Company shall have the right in an action to declare said deed a Mortgage and foreclose same, to move for the appointment of a Receiver of the rents and profits of said premises without notice to the owner of the property and such rents and profits are hereby assigned to the Company as further security for the payment of the indebtedness. The undersigned hereby assigns, transfers and sets over unto the Company all right, title and interest in and to any policies of fire insurance on any real estate upon which deed or mortgage has been given by the undersigned to the Company, and also all right, title and interest of the undersigned in and to any equity in policies of fire insurance that may be held by the mortgages on the said real estate.

    6. The Company ;shall have the right at any time, and for any reason, satisfactory to it, to surrender the principal of the bond to surrender and to affect its release there under. In the event of the failure of the principal of the bond to appear m court, or at the office of the Company whenever so required, or in the event of the re-arrest of the principal on another charge, or on the same charge with an increase of bail or when the case against the defendant is reached for trial, or in the event o f the failure of the undersigned to comply with the covenants of this agreement or whenever the Company shall be requested to surrender the defendant by any indemnitor, or if the financial statement of any indemnitor shall be found to be false or untrue, or if any of the collateral or security given shall depreciate or have become impaired, the Company shall have the right to surrender the defendant without the return of any portion of the premium and all expenses shall be for account of the undersigned who shall also be responsible of the reasonable value of the services and time of the Company’s employees.

    7. That no act or the omission of the Company in modifying, limiting or extending the instrument so executed by the Company shall in any wise affect our liability hereunder, nor shall we or any of us be released from this obligation by reason thereof; we agree that the Company may alter change or modify, amend, limit or extend said bond or undertaking and may execute renewals thereof, or other and new obligations in its place or in lieu thereof and without notice to us, notice being expressly waived, and in any such case, we and all security given by us shall be liable to the Company as fully and to the same extent on account of any such altered, changed, modified, amended, limited or extended instruments, or such renewals thereof, or other or new obligations in its place or in lieu thereof,whenever and as often as made, as fully as if such instrument were described at length herein. The Company shall have the right to substitute or release any collateral without notice to us and without in any way affecting its right against us or against the balance of the collateral retained. The Company and its agents or representatives shall have the right, and are hereby authorized to fill up any blank or blanks left in this application or in any other paper of indemnity, and to correct any errors in filling up any such blank or blanks, it being hereby agreed that any such insertion or correction shall be prima facie correct.

    8. That it shall not be necessary for the Company to give us, or any of us, notice of any suit, act, fact or information coming to the notice or knowledge of the Company concerning or affecting its rights or liability under any such bond or undertaking by it so executed, or our rights or liabilities hereunder, notice of all such being hereby expressly waived . That the recovery by the Company of any judgment against us shall not bar it from procuring any other judgment or judgments hereunder against us, provided 1he Company did not recover prior thereto the particular loss or claim sued for, the intention being that the Company may separate into as many suites as it deems best, any and all claims which it may have against us under this agreement.

    9. That all collateral securities or indemnity papers, at any rime deposited with or in the possession of the Company shall be available in it’s behalf and for its benefit and relief as well concerning any and all former or subsequent braids or undertakings executed for us, or at the instance of us, or any of us, as the bond or undertaking concerning which collateral securities or indemnity papers shall have been made, deposited or given, and shall also be available to cover any disbursement, expenditure or outlay made by any agent or attorney in fact of the Company in and about said bond or to prevent a forfeiture thereof or to pay any fine imposed on the defendant or to procure the return of the defendant whose bond has been forfeited.

    I 0. That as long as there is any liability or loss of any nature whatever to the Company upon the bond applied for herein, the undersigned will not make any transfer or any attempted transfer of any of the property given as security or which the undersigned by subsequently acquire, or of any interest therein, and it is further agreed that the Company shall have a lien upon all property of the undersigned for any sums due it or for which it has become, or may become, liable by reason of its having executed the bond applied for herein.

    11. That none of the security given by us s hall be returned nor shall we be relieved from any liability, until we shall furnished the Company With competent written legal evidence satisfactory to it, of its full discharge from liability under said bond and the Company shall have a reasonable period after such proof to return any collateral given by us, which shall be taken to be about ten days. The Company expressly reserves the right not to return collateral security unless the collateral receipt issued by it on receipt of the collateral security is returned by the person to whom it was issued, or a Surety Company bond satisfactory to this Company is given in double the value of said collateral.

    12. The undersigned hereby agree that no understanding, promises or agreement not contained herein shall be binding upon any of the parties hereto and the undersigned hereby specifically waive all representations promises, agreements and understandings of every kind or character not herein set forth in writing and agree that no agent or representative has authority to vary the terms of this contract or make any representation or promise or agreement not contained herein unless the same is in writing and signed by an officer of Seneca and/ or Safety National Insurance Company.

    13. That in the event that said criminal defendant escapes from the Surety and is subsequently captured in a state of the United States other than the one in which the charge was tiled or in a foreign country, and providing said criminal defendant is also one of the indemnitors herein, such criminal defendant does hereby agree to return voluntarily to the State of original jurisdiction, even though bail bond posted on behalf of such person shall have been forfeited and the time for the setting aside thereof shall have expired, and does hereby waive extradition proceedings and further consents to the application of such force as may be necessary to effect such return.

    14. It is specifically understood and agreed that irrespective of the domicile or legal residence of any of the parties hereto the law of Tennessee shall govern construction, interpretation and enforcement of this contract and of the contract or contracts of suretyship executed hereunder.

    15. That these covenants shall be binding not only upon us, jointly and severally. but as well upon our respective heirs. executors. administrators, successors and assigns.
  • IN WITNESS WHEREOF, there undersigned have duly executed these presents this day of:
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