Notary Bond Agreement

Notary Bond Agreement

This Notary Bond Agreement (the Agreement) is made on by and between Principal Name: of Address: and Surety Company: of Address: (collectively, the Parties).

RECITALS

WHEREAS, Principal has applied for or holds a commission as a notary public for the jurisdiction of under commission number , which is required by law to be supported by a surety bond; and

WHEREAS, Surety is duly authorized to issue surety bonds and has agreed to issue a bond in the penal sum of $ (the Penal Sum) to secure Principal's faithful performance of the duties of notary public; and

WHEREAS, the Parties desire to set forth their respective rights, obligations and procedures regarding the bond and any claims made thereunder.

NOW, THEREFORE

In consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:

1. BOND AND PENALTY

1.1 Surety hereby issues and binds itself to Principal in the Penal Sum of $ for the payment of which Surety is firmly bound to the public authority legally entitled to enforce such bond. The bond shall be conditioned upon Principal's faithful performance of all duties and obligations as a notary public for the jurisdiction identified above.

2. OBLIGATIONS OF PRINCIPAL

2.1 Principal warrants and covenants that Principal shall faithfully perform and discharge all duties required by law of a notary public in the jurisdiction, shall comply with all applicable statutes, regulations and codes, and shall pay any damages occasioned by Principal's fraud, dishonesty, negligence or willful misconduct to any person injured thereby to the extent recoverable under law.

3. OBLIGATIONS OF SURETY

3.1 Surety agrees that, subject to the terms and limitations of this Agreement and applicable law, it shall pay claims on the bond up to the Penal Sum. Payment by Surety shall not release Principal from liability to third parties for amounts in excess of the Penal Sum.

4. CLAIMS, NOTICE AND INVESTIGATION

4.1 Any person asserting a claim under the bond (Claimant) shall provide written notice to Surety and Principal describing the alleged act or omission giving rise to the claim, the amount claimed, and documentation supporting the claim. Notice to Surety shall be sent to the address set forth in the Notices section below. Failure to provide timely notice does not relieve Surety of liability unless prejudice results from the failure.

4.2 Surety shall have the right to investigate any claim and to contest the validity or amount of any claim. Surety's obligation to pay under the bond is subject to the completion of any investigation and the determination that the claim is payable under the terms of the bond and applicable law.

5. REMEDIES; LIMITATIONS

5.1 In the event of a valid claim, the injured party may pursue recovery directly from Surety up to the Penal Sum without first exhausting remedies against Principal. Payment by Surety shall not discharge Principal's liability to an injured party for amounts beyond such payment.

5.2 The aggregate liability of Surety under this Agreement and the bond shall not exceed the Penal Sum. Surety shall not be liable for consequential, punitive or exemplary damages unless expressly required by applicable law.

6. INDEMNITY; REIMBURSEMENT

6.1 Principal covenants and agrees to indemnify, defend and hold harmless Surety from and against any and all losses, costs, expenses (including attorneys' fees and court costs), liabilities and damages which Surety may incur by reason of having executed or procured the bond, including but not limited to amounts paid in settlement or judgment, and the costs of investigation and defense.

6.2 Principal shall, upon demand, promptly reimburse Surety for any payments made under the bond and for all costs of collection and enforcement incurred by Surety.

7. TERM; TERMINATION

7.1 This Agreement and the bond shall be effective as of the effective date of the bond and shall continue in full force and effect for the period required by law or until formally terminated in accordance with the bond terms and applicable statutes.

7.2 Termination of the bond shall not affect liability for acts or omissions occurring prior to the effective date of termination, and claims arising from such acts or omissions shall remain subject to the terms of this Agreement.

8. NOTICES

Notices under this Agreement shall be in writing and delivered by personal delivery, certified mail (return receipt requested), or nationally recognized overnight courier to the addresses below.

9. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the state where the notarial commission was issued, without regard to conflict of laws principles. Venue for any action arising under this Agreement shall lie in the courts of that state.

10. AMENDMENT; WAIVER

No amendment, modification or waiver of any provision of this Agreement shall be effective unless in writing and signed by both Parties. A failure or delay by either Party to exercise any right shall not be deemed a waiver of that right.

11. ENTIRE AGREEMENT

This Agreement, together with the bond issued contemporaneously herewith, constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings and agreements, whether written or oral.

12. SEVERABILITY

If any provision of this Agreement is held invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired.

13. COUNTERPARTS; EXECUTION

This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. Signatures transmitted by facsimile or electronic image shall be binding as originals.

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