Form Re 643n - Surety Bond (11241)
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1S
C
B
r
e
tate of
alifornia
ureau of
eal
State
S
uBdiviSionS
S
B
(§11241)
urety
ond
BOND NUMBER
PREMIUM
RE 643N (Rev. 8/05)
KNOW ALL MEN BY THESE PRESENTS:
That we, __________________________________________________________________
as Prin-
(Name of Developer)
cipal, and ___________________________________________________________________
, a corporation
(Name of Surety)
organized and doing business under and by virtue of the laws of the State of __________________________ and duly licensed
to conduct a general Surety business in the State of California as Surety, are firmly held and bound unto ________________
___________________________________________________________
, as Obligee, in the penal sum
(Name of Association)
of _____________________ ________________________________________________ Dollars ($________________), for
the payment of which we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally
firmly by these presents.
WHEREAS, this bond is executed, issued, furnished and otherwise given on behalf of the Principal, an applicant for a public
report applied for or to be issued by the California Bureau of Real Estate, in compliance with Section 11241 of the California
Business and Professions Code, to secure the prompt and faithful performance of Principal’s obligation to Obligee under Part
One of the Time-Share Assessment/Subsidy Security Agreement (herein “the Contract”) dated ______________________,
_____ attached hereto and made a part hereof.
NOW THEREFORE, the condition of the obligation is such, that, if the said Principal shall promptly and faithfully
perform said Contract, then this obligation shall be null and void; otherwise it shall remain in full force and effect.
Surety, for value received, does hereby waive the right granted to Surety under California Civil Code Section 2845 to
require that Obligee proceed independently against Principal to enforce this obligation, but reserves to itself any right under
said Section 2845 to require that Obligee proceed jointly against Principal and Surety in any such action.
IN WITNESS WHEREOF, the seal and signature of said Principal is hereto affixed and the corporate seal and the name
of the said Surety is hereto affixed and attested by its duly authorized Attorney-In-Fact at ____________________________,
California this ____________ day of __________________________, ______.
NAME OF PRINCIPAL (TYPE OR PRINT)
SIGNATURE OF PRINCIPAL
NAME OF SURETY (TYPE OR PRINT)
SIGNATURE OF SURETY
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