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REAL PROPERTY SECURITY'S PENAL BOND

REAL PROPERTY SECURITY'S PENAL BOND

 

BOND

 

We the, _____________________, having an office at __________________________ (Address), as principal, and __________________, a corporation organized under the laws of the State of _______________________ and licensed to transact business as a corporate surety insurer in the State of ___________, as surety, acknowledge our indebtedness to the State of ___________________, for the use and benefit of all interested persons, in the penal sum of ________________ ($_____) for the payment of which we bind ourselves and our legal representatives.

 

This obligation is based on the fact that the principal has applied for an endorsement to its real estate brokers license which will allow it to act as real property securities dealer in the State of _____________________.

 

If it is found that after the date of this bond the principal conducts all of ____________ (His or Her) business as a real property securities dealer in accordance with _____________________ (Cite Statute), and complies with all obligations assumed by __________ (Him or Her), then this obligation shall be void; otherwise it shall remain in full force.  Persons sustaining any injury by breach of any obligation may bring action on this bond against both principal and surety.

 

The premium for which this bond is written is ________________ ($_____).

 

In witness whereof, each party has caused this bond to be executed at ____________________ (Place of Execution) on the date indicated below.

 

 

 

_________________________                  _____________________

Signature                                                                           Date

 

 

 

_________________________                  _____________________

Signature                                                                           Date

 



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