The above-named dealer as principal and the above-named corporation duty licensed and authorized to transact business in the State
of Wisconsin as surety are firmly bound to the State of Wisconsin as liable for damages caused by the negligent operation of a motor
vehicle leased from the lessor. The face amount of the bond is the sum stated above, lawful money of the United States of America, as
made and provided for under Chapter 344 Wisconsin Statutes.
The face amount of the bond shall apply separately to each 12 month period (commencing with the beginning date of the bond) during
which this bond is effective so that the full face amount shall be entirely available “for damages caused by the negligent operation of the
motor vehicle” during each 12 month period this bond is effective. Thus, a liability of the surety incurred under this bond for an act of
commission or omission occurring in one 12 months period shall not reduce the sum available to less than the above face amount for
any other 12 month period during which the bond is effective.
This bond is given to satisfy the provisions and conditions of Wis. Stat. s. 344.51 (1m).
Within 10 days of any claim made against this bond said surety company shall mail notice to the Wisconsin Department of
Transportation.
This bond and all obligations under it shall remain continuously in full force and effect through the date shown above. If this bond is
indicated as “continuous”, then this bond shall not automatically expire with the license of the principal but shall continue from year to
year as a new and separate obligation for each 12 month period.
This bond may be terminated by surety giving 60 days written notice to the Wisconsin Department of Transportation. Notice of
termination, however, shall not affect this bond respecting any obligation arising prior to 60 days following receipt of a notice of
termination by the licensor. If this bond is terminated and not immediately replaced with another comparable bond, the principal shall be
directly liable for damages caused by the negligence of any person operating the leased vehicle in any period for which coverage has
lapsed and said principal may be subject to a monetary forfeiture of not more than $200.
