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In consideration of Jet Insurance Company (“JIC”) becoming surety on one or more bonds applied for by the undersigned indemnitor(s) (“Indemnitor(s)”) and any renewal, reissuance or increase thereof (“Bond”), the Indemnitor(s), for themselves, their heirs, executors and administrators, present or future, jointly and severally, and as the owner(s) or officer(s) of the bonded entity and its parents, subsidiaries, affiliates, successors, assigns and related parties as applicable, promise and agree as follows: (1) To reimburse, fully indemnify and hold JIC harmless upon demand for every claim, suit, judgment, award, liability, fine, penalty, loss, cost, claims adjusting expense, and other charges and expenses of whatsoever kind or nature, including collection and attorneys’ fees and expenses (“Loss”),which it may, at any time, sustain or incur by reason or in consequence of furnishing any Bond to the Indemnitor(s); (2) JIC shall have the exclusive right to determine whether or not any claim or suit shall paid or compromised, and such determination shall be binding on the Indemnitor(s); (3) An itemized list of loss and expense incurred by JIC shall be prima facie evidence of Indemnitor(s)’ liability to JIC. Indemnitor(s) agree to deposit with JIC, upon demand, the amount of reserve posted against such Loss or potential loss as determined by JIC in its sole discretion; (4) JIC shall be under no obligation to execute, renew, or continue any bond, and shall have the absolute right to cancel the bond in accordance with the cancelation provision contained therein, or to procure its release under any law for the release of sureties, and JIC is hereby released from any damage that may be sustained by reason of such actions; (5) Performance and any form of dispute resolution of this agreement shall take place in Mecklenburg County, North Carolina; (6) JIC may conduct business with the Indemnitor(s) electronically and a facsimile or electronic version of this Indemnity Agreement shall be treated as an original for all purposes; and (7) If the monthly payment option is selected, Indemnitor(s) are allowing JIC to automatically charge the credit card provided on a monthly basis for the stated monthly amount until Indemnitor(s) notify JIC to cancel the bond, which can be done at any time. Indemnitor(s) agree the monthly purchase price is subject to change at any time and the new monthly rate will be automatically charged after JIC provides at least 30 days’ notice of the change by email. Indemnitor(s) understand the Bond is a credit relationship and hereby authorizes JIC, to gather such credit, employment, DMV records, and business and personal financial information as considered necessary for and appropriate for purposes of evaluating whether and at what premium rate such credit should be granted or continued. By signing, Indemnitor(s) are providing ‘written instructions’ to JIC under the Fair Credit Reporting Act authorizing JIC to obtain information from Indemnitor(s)’ personal credit profile or other information from Experian. Indemnitor(s) authorize JIC to obtain such information solely to conduct a pre-qualification for credit. Indemnitor(s) hereby declare that the statements herein are true and correct and are being relied upon by Jet Insurance Company (“JIC”) to become surety on one or more bonds applied for and any renewal, reissuance or increase thereof. It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties may include imprisonment and fines.
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