Office of Vehicle Services DEFECTIVE TITLE Bond No. ________________
Park Fair Mall, 100 Euclid Ave
P.O. Box 9278
Des Moines, IA 50306-9278
Premium
KNOW ALL MEN BY THESE PRESENTS: THAT We, ___________________________________________________
(Address) ______________________________________________________________________________________ and,
___________________________________________________________ a Corporation organized under the laws of the State of ______,
and duly authorized to transact a general surety business in the State of Iowa, as Surety, are held and firmly bound unto the State of Iowa,
Office of Vehicle Services thereof, its officers and employees, for the use and benefit thereof and of any interested person as hereinafter
specified in the penal sum of ____________________________________ Dollars ( ) lawful money of the United States of
America, for the payment whereof well and truly to be made, we hereby bind ourselves, our heirs, executors, administrators, successors
and assigns, jointly and severally, firmly by these presents.
THE CONDITION OF THE FOREGOING OBLIGATION IS SUCH THAT, WHEREAS, the said Principal has not presented to the
said Office of Vehicle Services the regularly required supporting evidence of ownership of the said vehicle:
WHEREAS, the said Department has required said Principal to deposit with it a bond in accordance herewith as a condition to the
issuance of a Iowa Certificate of ownership for the said vehicle.
NOW, THEREFORE, if the said obligors shall fully protect, indemnify and save harmless the Office of Vehicle Services of the State of
Iowa, and any and all officers and employees thereof and any and all subsequent purchasers of said vehicle and any and all persons
acquiring any lien or encumbrance thereon claims, suits, action, loss or damage on account of any defect in or undisclosed claim, lien, or
encumbrance of whatever nature upon said vehicle or the right, title and interest of said Principal in or to said vehicle, then this
obligation shall be null and void; otherwise to remain in full force and effect.
THIS BOND IS SUBJECT TO THE FOLLOWING PROVISIONS:
1. That any interested person may, in addition to any other remedy he may have, bring an action in his own name to recover
hereon any damages sustained by him by reason of any breach of the conditions for which this bond is deposited and in such action shall
have and recover costs and reasonable attorney's fee.
2. That the aggregate liability of the Surety on this obligation to all such interested persons shall in no event exceed the penal sum
of this bond.
3. This bond shall be returned and surrendered at the end of three years from the date hereof or prior thereto in the event the said
vehicle is no longer registered in the State of Iowa and the currently valid certificate of ownership is surrendered to the Office of Vehicle
Services. Provided, that such return or surrender of this bond shall not affect any liability theretofore incurred or accrued.
Signed, Sealed and Dated this ____ day of ___________________, _______.
By:
Principal , Attorney-in-Fact
S-6039 (12/01)
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