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REAL ESTATE BROKER'S PENAL BOND

REAL ESTATE BROKER'S PENAL BOND

 

 
BOND
 
We the ________________________, of ___________________________________ _______________________________________________ (address) as principal, and ________________________________ a surety company incorporated under the laws of the State of _________________ and authorized to conduct business in the above mentioned state are indebted to the State of _____________________ in the amount of _____________ ($____), which we bind ourselves and our legal representatives.

 
The conditions of this obligation are as follows:
 
I.  The principal has applied to the ___________________________ (designated state agency) of the State of ____________________ for a real estate broker license and will engage in business or employment under the following provisions _________________ ______________________________________________________ (cite statute); and
 
II.  A bond pursuant to ________________________________ (cite statute) is required.

 
If principal conducts _____________ (himself or herself) and business in accordance with the laws of the State of ______________________, this obligation shall be null and void; otherwise it will remain in full force. Any person aggrieved as a result of conduct shall have, a right to bring suit against surety as well as follow through with any rights granted to them.
 
It is understood that this bond is valid for ________________________ from date of execution, and that surety shall notify the _____________________________ (state agency) of the expiration date.
 
The total liability of surety shall not exceed the sum of ___________ ($__________).
 
The premium for which this bond is written is _________________ ($__________).
 
In witness whereof, both parties to this bond have caused it to be executed at ________ ____________________________________ (location) on the date indicated below.


 
_________________________                    _____________________

Signature                                                        Date

 

_________________________                    _____________________

Signature                                                        Date

 

 



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