Amwest Surety Insurance Company, in Liquidation

COLLATERAL RELEASE – Surety Bonds

Amwest cannot release any collateral unless we have received an executed and notarized copy of a full exoneration for each bond(s), subject to your Collateral Security Receipt and Agreement, or an executed copy of the appropriate replacement bond(s). The replacement bond(s) must contain the following release and discharge language, and must be executed and accepted by the obligee. Acceptance from the obligee must include the name, signature and date accepted on the bond. Amwest must receive a copy of the accepted replacement bond before considering any release of collateral.

Acceptance language to be included directly on the Replacement bond:

Accepted by: __________________________ Date: ______________

(Obligee Name)

Release and Discharge Language, which is required on all replacement bonds.

The release and discharge language should include one of the following paragraphs:

· “By acceptance of this bond, _____________, the obligee, herein agrees that Amwest Surety Insurance Company is fully released and discharged of any and all obligations it may have under bond number ___________ (the released bond). It is further agreed that this obligation and liability is in replacement of, and not in supplementation to, the released bond.”

· “By acceptance of this bond, __________ (obligee) herein agrees that Amwest Surety Insurance Company is fully discharged and released of any obligation it may have under bond number _________.”

Release and Discharge of Liability Under Bond

The following Release and Discharge of Liability Under Bond form may be used as a full exoneration in the event a replacement bond is not needed.

All requests to release collateral must be submitted in writing and subject to approval from Accounting, Claims, Underwriting and the Special Deputy Liquidator. Please forward your request to:

Amwest Surety Insurance Company, In Liquidation

Attention: Collateral Department

P.O. Box 4500

Woodland Hills, CA 91365

Click here to view the FREQUENTLY ASKED QUESTIONS

RELEASE AND DISCHARGE OF LIABILITY UNDER BOND

Know all persons by these presents, that we ___________________________________

as principal and _________________________________ as obligee herein agree that Amwest Surety Insurance Company is fully released and discharged and exonerated of any past, present or future obligation it may have under bond number _______________________.

Dated: ____________________ Principal:

By:___________________________

Name: ________________________

Title:_________________________

Dated: ____________________ Obligee*:

By:___________________________

Name: ________________________

Title:_________________________

ACKNOWLEDGMENT

STATE OF _____________________ )

) ss.

COUNTY OF _______________________ )

On __________________, 2____ before me, ___________________________, Notary Public, personally appeared _____________________________________________________________ ¨ personally known to me - OR - ¨ proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

WITNESS my hand and official seal.

___________________________________

(S E A L)

* Obligee’s signature must be notarized.