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checks or other instruments representing payment of monies deemed necessary and proper by Surety in order to give full effect to the assignment
<br />and all other provisions of this Agreement.
<br />8. Surety may exercise its rights to the assignment and pledge referred to in Paragraph 6 only if the Principal: a) breaches a bonded contract, Bond or
<br />the Agreement; b) is declared in default by a Bond obligee or a payment bond claim is made; c) makes an assignment for the benefit of creditors, an
<br />application for the appointment of a trustee or receiver is made, or files an application under the Bankruptcy Code or similar laws of any state; d) is
<br />subject to any proceeding which deprives it of the use of materials referred to above; e) Is debarred or otherwise declared ineligible for public work,
<br />or f) if an Individual, a Principal or Indemnitor's death, disappearance, incompetence, insolvency, conviction of a felony, or imprisonment.
<br />9. This agreement shall constitute a Security Agreement to the Surety and a Financing Statement, both in accordance with the Uniform Commercial Code
<br />of every jurisdiction in which such Code is in effect, but the filing or recording of the agreement shall be at Surety's option, and the failure to file shall
<br />not release or impair any of the Principal's, Undersigned's or Indemnitors' obligations under the agreement or otherwise, nor shall it be any manner
<br />in derogation of any of the Surety's rights.
<br />10. Undersigned state that each of them is specifically and beneficially interested in the obtaining of each Bond and that all information provided by the
<br />Undersigned in support of the application(s) for any Bonds is and will be at the time of issuance true and correct.
<br />11. The obligations of the Undersigned hereunder are joint and several and are binding upon the heirs, executors, administrators, successors and assigns
<br />of the Undersigned.
<br />12. In case the execution hereof by any of the Undersigned may be defective or invalid for any reason, such defect or invalidity shall not in any manner
<br />affect the validity of this obligation or the liability hereunder of any other of the Undersigned. Invalidity of any provision of this agreement by reason
<br />of the laws of any state or for any other reason shall not render the other provisions hereof invalid.
<br />13. Execution by Principal or any of the Undersigned of any application for any Bond or of any other agreement of indemnity on behalf of Principal, or the
<br />taking of Indemnity of any other person by Surety with respect to any Bond of Principal, shall in no way be deemed to waive, diminish or abrogate any
<br />rights of Surety under this agreement. This indemnity agreement shall not be considered a novation of an earlier indemnity. Any other agreement of
<br />indemnity shall be considered supplemental to this agreement.
<br />14. As to any legal action related to this Agreement, Principal and Indemnitors consent to jurisdiction of any court of competent jurisdiction, including the
<br />jurisdiction of any state or federal court where the Surety, Principal, or one or more of any of Indemnitors Is domiciled or doing business, at the
<br />discretion of the Surety. Principal and Indemnitors waive any right to trial by jury for any tort or contract claims related to this Agreement and waive
<br />any claim or defense in any such action based on alleged lack of personal jurisdiction, improper venue, forum non conveniens or any similar basis.
<br />TEeMINAnow This agreement is a continuing obligation of the Undersigned unless terminated as provided in this paragraph. An Undersigned desiring to
<br />terminate liability as to future Bonds of Principal must:
<br />1. Give written notice to Surety at its office at 1900 S 18th Avenue, West Bend, WI 53095, by certified or registered mail of such termination.
<br />2. State in such notice the effective date (not less than thirty days after the receipt of notice by Surety) of termination of such Undersigned's liability for
<br />future Bonds.
<br />After the effective date of termination, the Undersigned giving notice shall be or remain liable hereunder for Bonds executed, authorized, renewed, or
<br />extended prior to such date. Such termination of liability as to an Undersigned shall in no way affect the obligation of any other Undersigned who has not
<br />given notice as herein provided.
<br />Please review the statutory fraud notice applicable to your state.
<br />Applicable in AL, P. DC. LA. MD. NM. HI and WV: Any person who knowingly (or willfully)* presents a false or fraudulent claim for payment of a loss or benefit
<br />or knowingly (or willfully)* presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.
<br />*Applies in MD Only.
<br />Applicable in CO: It is unlawful to knowingly provide false, incomplete or misleading facts or information to an insurance company for the purpose of defrauding
<br />or attempting to defraud the company. Penalties may include imprisonment, fines, denial of insurance and civil damages. Any insurance company or agent of
<br />an insurance company who knowingly provides false, incomplete, or misleading facts or information to a policyholder or claimant for the purpose of defrauding
<br />or attempting to defraud the policyholder or claimant with regard to a settlement or award payable from insurance proceeds shall be reported to the Colorado
<br />Division of Insurance within the Department of Regulatory Agencies.
<br />Applicable in FLand OK: Any person who knowinglyand with intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing
<br />any false, incomplete, or misleading information is guilty of a felony (of the third degree)*. *Applies in FL Only.
<br />Applicable in KS: Any person who, knowingly and with intent to defraud, presents, causes to be presented or prepares with knowledge or belief that it will be
<br />presented to or by an insurer, purported insurer, broker or any agent thereof, any written, electronic, electronic impulse, facsimile, magnetic, oral, or telephonic
<br />communication or statement as part of, or in support of, an application for the issuance of, or the rating of an insurance policy for personal or commercial
<br />insurance, or a claim for payment or other benefit pursuant to an insurance policy for commercial or personal insurance which such person knows to contain
<br />materially false information concerning any fact material thereto; or conceals, for the purpose of misleading, information concerning any fad material thereto
<br />commits a fraudulent insurance act.
<br />Applicable in KY. NY. OH and PA: Any person who knowingly and with intent to defraud any insurance company or other person files an application for Insurance
<br />or statement of claim containing any materially false information or conceals for the purpose of misleading, information concerning any fact material thereto
<br />commits a fraudulent insurance act, which is a crime and subjects such person to criminal and civil penalties (not to exceed five thousand dollars and the stated
<br />value of the claim for each such violation)*. *Applies in NY Only.
<br />Applicable in ME. TN. VA and WA: It ira crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of
<br />defrauding the company. Penalties (mad* include imprisonment, fines and denial of insurance benefits. *Applies in ME Only.
<br />Applicable in NJ: Any person who includes any false or misleading information on an application for an insurance policy is subject to criminal and civil penalties.
<br />Applicable in OR: Any person who knowingly and with intent to defraud or solicit another to defraud the insurer by submitting an application containing a false
<br />statement as to any material fatt may be violating state law.
<br />All Other States: Any person who knowingly conceals or provides materially false, incomplete, or misleading information on an application or concerning a
<br />claim to an insurance company for the purpose and intent of defrauding the company, may be guilty of insurance fraud in violation of state law. Penalties may
<br />include imprisonment, fines, or denial of insurance benefits.
<br />NB 0070 0125 Page 4 of 5
<br />1900 S 18th Avenue J West Bend, WI 53095 1 Phone: (800) 236-5010 1 Fax. (877) 674-2663 1 ww.thesilvedining.com
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