SURETY BOND B.M.C. 84

B.M.C 84                                                       Bond No. 40028836                                                       Approved by OMB
(10/98)                                                                                                                                                                         2125-0570
 

FILER FHWA                                                                                                                                          License No. ACCOUNT NO. ______                                                                                                                                          MC 395468

PROPERTY BROKER'S SURETY BOND UNDER U.S.C. 13906

KNOW ALL MEN BY THSE PRESENTS, that we ACG LOGISTICS INC. of 10 S. CLINTON STREET #202, DOYLESTOWN, PA 18901
                                                                  (Name of Property Broker)
As PRINCIPAL (hereinafter called Principal) and Star Insurance Co. A corporation, or Risk Retention Group established under the Liability Risk
                                                                (Name of Surety)
Retention Act of 1986, Pub. L., 99-563, created and existing under the laws of the State of Michigan (hereinafter called Surety) are held and firmly bound unto the United States of America in the sum of $100,000, for which payment, well and truly to be made, we bind ourselves and our heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents.
.
WHEREAS, the Principal is or intends to become a Broker pursuant to the provisions of Title 49 U.S.C. 13904, and the rules and regulations of the Federal Highway Administration relating to insurance or other security for the protection of motor carriers and shippers, and has elected to file with the Federal Highway Administration such a bond as will ensure financial responsibility and the supplying of transportation subject to the ICC Termination Act of 1995 in accordance with contracts, agreements, or arrangements therefore, and
.
WHEREAS, the bond is written to assure compliance by the Principal as a licensed Property Broker of Transportation by motor vehicle with 49 U.S.C., 13906 (b), and the rules and regulations of the Federal Highway Administration, relating to insurance or other security for the protection of motor carriers and shippers, and shall inure the benefit of any and all motor carriers and shippers to whom the Principal may be legally liable for any of the damages herein described.
.
NOW, THEREFORE, the condition of this obligation is such that if the Principal shall pay or cause to be paid to motor carriers or shippers by motor vehicle any sum or sums for which the Principal may be held legally liable by reason of the Principal's failure to faithfully perform, fulfill, and carry out all contracts, agreements, and arrangements made by the Principal while this bond is in effect for the supplying of transportation subject to the ICC Termination Act of 1995 under license issued to the Principal by the Federal Highway Administration, then this obligation shall be void, otherwise to remain in full force and effect.
.
The liability of the Surety shall not be discharged by any payment or succession of payments hereunder, unless and until such payment or payments shall amount in the aggregate to the penalty of the bond, but in no event shall the Surety's obligation hereunder exceed the amount of such penalty.
The Surety agrees to furnish written notice to the Federal Highway Administration forthwith of all suits filed, judgments rendered, and payments made by said Surety under this bond.
.
This bond is effective the 30th day of May, 2001 at 12:01 a.m., standard time at the address of the Principal as stated herein and shall continue in force until terminated as herein provided. The Principal or Surety may at any time cancel this bond by written notice to the Federal Highway Administration at its office in Washington, DC, such cancellation to become effective thirty (30) days after actual receipt of said notice by the FHWA on the prescribed Form BMC-36, Notice of Cancellation Motor Carrier and Broker Surety Bond. The surety shall not be liable hereunder for the payment of any undertakings, or arrangements made by the Principal for the supplying of transportation after the termination of this bond as herein provided, but such termination shall not affect the liability of the Surety hereunder for the payment of any such damages arising as the result of contracts, agreements, or arrangements made by the Principal for the supplying of transportation prior to the date such termination becomes effective.
.
The receipt of this filing by the FHWA certifies that a Broker Surety Bond has been issued by the company identified above, and that such company is qualified to make this filing under Section 387.315. of Title 49 of the Code of Federal Regulations.
.
                                                                        ACKNOWLEDGEMENT OF SURETY
                                                                                      (Attorney-in-Fact)

State of ___________________________  )
                                                           :SS
County of _________________________  )

        On the 30th day of MAY, 2001, before me personally appeared Gary P. VanZee, known to me or satisfactorily proven to be the person whose name is subscribed as attorney in fact for Star Insurance Company and acknowledged that he executed the same as the act of his principal for the purposes herein contained.
.
        IN WITNESS WHEREOF, I hereunto subscribed my name and affixed my official seal the day and year last above written.
.
        __________________________
        §     MARY A. SHATTER    §
        §       NOTARY PUBLIC      §
        §       SOUTH DAKOTA       §__

CLOSE WINDOW