Ind. Code § 34-55-5-5

Sec. 5. The written undertaking is valid in law. An action may be brought on the written undertaking, whenever the condition of the written undertaking is broken, and on recovery. The value of the property so taken, with damages not exceeding ten percent (10%) on the value, shall be assessed in favor of the plaintiff. However, the recovery may not exceed the amount due on the execution, and ten percent (10%) on the principal.