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HomeMy WebLinkAbout2192 ; ~;~~.;~f~,-,~ ; :1.'11 i-~ 1l.':1 * ' F~re and Casualty Cunipu~ny casunirv ~ ORLAHDO. FI.08IDR ~ . co. ~ txenersl Agreentent of Iademalty ~jt~ ~11 ~pri ~71j ~~P~P ~rPBpri~, that whereas, at the request of the undersigned herein- after referred to as Indemnitora, and upon condition that thia instrument be e~cecuted, American Fire and ('asualty Company, hereinafter referred to as the Surety, a corporation of the State of Florids, hae exec~ted, or may hereafter execute, a bond or bonds on behalf of , , . , - - . , - " ~ , ~ _ . . , , , ~ , . . . . , , _ . , _ - . _ . _ _ _ _ _ . _ . hereinafter referred to as Principal, copy or cupies of which may be hereto auached. '~t1~ ~~~YrSS, the Indemnitors have a substantial, materia! and beneficial interest in the abtaining of the said bond or bonds. ~Q1~1, ~IIt~prsfvrr. in consideration of the prernises the Indemnitors, Eor themsel~•cs, their heirs, executors. administrators. successors and ass:gns jointly and severaily hereby covenant and agree with the Surety, its successors and assigns, as follows: 1. That the ln~emnitors will promptly pay or cause to be paid in cash to the Surety at its office in the ('ih• of Orlando for the execution of the said bond or bonds, the premium or premiums to be paid annually, in ad~•ance, in each and every~ year during the time which the Surety shal! be and continue to be liable u}wn the said bond or bonds, and until the Surety shall have been fully diacharged and released from any aad all liability u{wn sai~l twnd or bonds and all matters and things arising therefrom, and until there shall have been furnished to che Surety due and satisfxetory proof by evidence legally co:npetenY of such discharge snd release. n hold and sa~•e it harmless 2. The Indemnitors shall at all times indemnify and keep indemnified the Surety a d fram and against anv and all liability. losses, costs. damages, attorn~ys' and counsel fees, and disbursements, and e~- penses oF w•hate~~er kind or nature w~hich the Surety may sustain or incur by reason or in consequence of having exe- cuted or procured the execution of such bond or bonds, and any rene~•al, continuation, extension or successor ther~of. and all other bonds heretofore or hereaEter executed or procured for or at the request of the Frincipal, and which the Surety may sustain ar incur in taking any steps it may deesn necessary in making any investigation, in defending or prosecuting ai1~~ actions, suits or other proce~d~ngs which may be broughi under or in connection therewith, or in reco~•ering or attempting to reco~~cr sal~•age or any unpaid bond premium, in obtaining or attempting tQ obtain re- lease From liability, or in enforcing any of the co~~enants of t~is agreement: to pay over, reimburse and make good to the Surety. its successors or assigns, all maney w~hi~h the Surety or its representatives shall pay. or cause to be paid or become iiable to pay, by reason of the e~ecution of such bond or bonds, and any r2newal, continuance. eKtension or successor thereof, an~ all other~ bon~s heret~Eore or hereafter executed or procured for or at the request of the Principal; and such payment to be made to the Surety as soon a5 it shall become 1ia51e therefor, u•hether the Surety shall ha~~c paid out such svm or any part thereof, or not. 3. If Eor any reason the Suret}~ shall be required or shall deem it necessary to set up a reserve in any amount to co~~er an}~ contingent ciaim or ciaims, lo=s. costs. attorney's Eees and disburszments and expe.nses in connection with anv hond by reason of deFault of the Principal, abandonment of conttact, l:ens filed, unpaid and past due bills, dispute wiih the owner or ohligee. or for any reasor. u~~hatsoever, and regardless of any proceedings contemplated or taken by the Principal or the pendency of any appeal, the undersigned jointly and severally hereby covenant and agree imme- diately upon demand to deposit w~ith the 5urety, in current funds. an amount suHicient to ~over such reserve and any increa~e thereof, such funds te be held by the Surety ~as collateral, in addition to the indemnity afforded by this instrn- ment, w~ith the right to use such funds or any part thereof, at any time, in payment or compromise of any judgment, ciaims, liability, loss, damage, attorney's fees and disbursements or other expenses: and iE the Surety is required to en- force performance of this co~~enant by uction at la~.~ or in equity, the costs, charges, and expenses, including counsel or attorney's fees. w•hich it r:7ay thereby incur, shall be included in such action and paid by the undersigned. Demand shall be sufi`icient if sent by registered mail to the undersigned at the address given herein or last known to the Surety, whether or not actually recei~~ed. 4. That the Surety may. at any time hereafter, ~~ithout releasing or discharging the Indemnitors from any claim, de.iand. action, costs, liability or any other expense theretofore incurred or accrued, take such action as it might deem necessar}' or proper to obtain its releas~ Erom any an3 al! liability under the said bond or bonds, and the Indemnitars further agree that they shall further secure and indemniEy the Surety against any and all charges. liabiliti ~s and e~penses of whate~•er nature which the Surety may sustain or incur or be put to in obtaining such release. 5. The Surety 7nay also alter, change, modiEy, amend, limit or extend the said bond or bonds and any renewal ,~r other obligation in place or in lie~ ttiereof, and in any such case the lndemnitors shall be liable to the Surety as fullv and to the same extent on account of any such altered, changed, madi~ied, amended. ]imited or extended bond or bonds or rene~val ar substitution thereof, ~.vhenever ar.d as often as made, as though such bond or bonds is ar are described at lengtn :~erein. F~. That it shall not be necessary for the Surety to gi:~e to thc Indemnito:s or any of them notice, which is herc- hv expressly ~•a;~•ed. of any act. fact or inEormation caming to the notice or knowledc~e of the Surety con~ernino.or ~~ffect~ng its rights or liabilities under an~~ such bond or bonds by it so executed, or the rights and liabilities of the Indeninitoes herein. 7. Any propercy of any kind ~;•hich may ha~~e been, or n~ay hereafter be, pledged as collateral securitv on ~ny one or more of such bon~is may. at the option of the Surety, be retained as collateral security on anv and zll bonds coming u~~thin the scope of this agreement, whether tneretofore or th2reafter executed, and for the full and complete perFOrmance in all respects of the covenants of the Indemnitors. In case the Surety should deem it advisable for the E~i~rpose ot meeting any actual or praspective cJaim or demand under any such bond ar bonds or to pay any expenses ~ncurred or to he incu*red in connection therewith, or in case the Surety should be nf the opinion that said property is likelv to so declinc in market value tha: the security to the Surety will be inadequate, the Surety shall ha~~e full p~w~er and authority. ~~ithout notice to the Indemnitors or any of them, to sell, assign. and deliver said collateral, or any part thereof. at public or private sale at the option of the Sitrety, its successors and assigns, with the right to be rhe purchaser itsetf at any such sale, and to use the proceeds. or any part thereof as may be necessary, in order to protect itself or any other Surety or Sureties executinq such bond or bands against loss, costs, damages, attorney's fees c:nd,eapenses as aforesaid; and, after deducting all legal and other costs and expenses of such sale, and all such loss. costs. d~mages, attorney's fees and expenses as aforesaid, and all premiums duP the Surety or any such Suret~• or Sureties for any such bond ar bonds. shzll retuxn the remainder of such collateral ar the proceeds oE sale, if any. to the pers~n or persor.s leyally authorized to receive the same; provided the ~urety shall not be responsible for any loss resulting to said property fror:~ any cause other than the wrongEul act or neglect of its officers and employees. 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