Important Note: If the surety receives a letter from ARC stating that a draft has been dishonored by your bank, a Letter of Credit equal to 25% of your bond amount will be required within thirty (30) days of a request. If a second notice has been received within twenty-four (24) months of the first, a Letter of Credit equal to 50% of your bond will be required and if a third letter is received within twenty-four (24) months of the first, a 100% letter of Credit will be required. If there are no additional notices of dishonored drafts for a period of twelve (12) months following the last notice, the letter of Credit may be reduced by 50%. If there are no notices for a period of twenty-four (24) months following the last notice, the Letter of Credit may be canceled.

I agree that any electronic signatures (including facsimile signatures) utilized in connection with the execution of this document shall be considered originals and be fully binding and enforceable. Further, the use of any electronic signature by a party shall be evidence of that party's intent to be bound to the terms of such document. The parties agree that they shall not raise any defense (statutory or otherwise) to the enforceability of this document based upon the fact an electronic signature has been used. This Electronic signature also authorizes us to pull a credit report on the above-mentioned parties.

The undersigned hereby affirms that the statements contained in the foregoing are true and are made without reservation and with full knowledge that any person who knowingly and with intent to defraud any insurance company or other person files an application for insurance containing any false information, or conceals information for the purpose of misleading, concerning any fact material thereto, commits a fraudulent insurance act, which is a crime.