CARLEY, Judge.
In 1978, appellant was appointed administratrix of the estate of her intestate father and, as a condition of appellant's appointment, the probate court required that she post a surety bond. Appellant procured the required surety bond from appellee-plaintiff. Under the pertinent terms of the contract, appellant "covenant[ed] and agree[d] to pay in advance the premium or fees agreed upon to wit: $460.00 upon execution of the bond and annually in advance...
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