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