The condition of the surety bond furnished by an applicant for a license or renewal license as a professional bondsman shall be substantially as follows:
"The condition of this obligation is such that whereas the same............. has been duly licensed for the year 19 , in accordance with the provisions of Chapter 751 of the Municipal Code of the City of Toledo, as a professional bondsman authorized to become surety or provide surety for compensation on any bail bond, recognizance bond, appeal bond or other court bond required to be filed in the City of Toledo in any court with jurisdiction in said City.
NOW, THEREFORE, if the said............. shall in the case of every bond executed by him during said year 19 , as to which judgment or forfeit is rendered against him, pay such judgment within the time specified by the Clerk of Toledo Municipal Court, after the entry of the same, then this obligation shall be void, otherwise it shall be in full force and effect."
(1952 Code § 25-46-5)