Indemnification Agreement
To: Bank, Savings, or Credit Institution
Your compliance with the request or authorization of the depositor, Heart of Iowa Communications Cooperative agrees:
1. To indemnify you and hold you harmless from any loss you may suffer as a consequence of actions resulting from or in connection with the execution and issuance of any check, draft, or order whether or not genuine, purporting to be executed and received by you in the regular course of business for the purpose of payment, including any costs or expenses reasonable incurred in connection therewith.
2. In the event that any such check, draft or order shall be dishonored, whether with or without cause and whether intentionally or inadvertently, to indemnify you for any loss even though dishonor results in a forfeiture of service.
3. To defend at our own cost and expense any action which might be brought against you by any depositor or any other person because of your actions taken pursuant to the foregoing request or in any manner arising by reason of your participation in the foregoing plan.
4. Your participation in the plan or that of the depositor may be terminated from either party at any time.