2851. Surety Bond Format.

2851. Surety Bond Format.
A corporate surety bond provided to the Department by a prepaid rental listing service pursuant to Section 10167.7 of
the Code shall be in substantially the following form:
PREPAID RENTAL LISTING SERVICE BOND
Bond No. __________
Premium $ __________
Know all men by these presents:
That we, ______________________________________ as PRINCIPAL and
__________________________________________, a corporation organized under the laws of the State of
___________ and authorized to transact the business of surety in the State of California as SURETY are held and firmly
bound unto the State of California (OBLIGEE) in the penal sum of _______________ dollars ($______) for which
payment, well and truly to be made, we bind ourselves, our heirs, administrators, successors and assigns, jointly and
severally, liable and liable on the obligations of the bond and the statute providing for the bond.



PRINCIPAL has applied to the Department of Real Estate of the State of California for a license to act as a Prepaid
Rental Listing Service, or for the renewal of said license and is required by Section 10167.7 of the Business and
Professions Code to have on file with the Department of Real Estate, a bond in the amount of $10,000 for each licensed
location. This bond is executed and tendered in accordance with Section 10167.7.
The condition of this obligation is that if PRINCIPAL satisfies any and all final judgments entered against PRINCIPAL
as the result of any action undertaken pursuant to subdivision (f) of Section 10167.10, then this obligation shall be null
and void. Otherwise it shall remain in full force and effect.
For value received, SURETY does hereby waive any right granted to SURETY by Section 2845 of the California Civil
Code to require that OBLIGEE proceed independently against PRINCIPAL to enforce this obligation or that the
underlying judgment creditor of PRINCIPAL pursue any other remedies for collection of said judgment.
This bond is continuous in form and shall remain in full force and effect and shall run concurrently with the term of the
Rental Listing Service License issued to PRINCIPAL and for the term of any renewal thereof unless earlier terminated
or cancelled by SURETY as provided by law.
The SURETY, its successors and assigns, are jointly and severally liable on the obligations of the bond, chapter 2
(commencing with section 995.010), Title 14, part 2, Code of Civil Procedure and Article 2.3, Chapter 3, Part 1, Division
4, Business and Professions Code.
The PRINCIPAL and SURETY may be served with notices, papers and other documents under chapter 2 (commencing
with section 995.010), Title 14, part 2, Code of Civil Procedure at the addresses given above.
I certify (declare) under penalty of perjury under the laws of the State of California that I have executed this foregoing
bond.
PRINCIPAL and SURETY have executed this agreement this ____ day of _________, 20__.
____________________________ ____________________________
(Principal) (Surety)
Address: Address:
____________________________ ____________________________
____________________________ ____________________________
By:_________________________ By:_________________________
(Signature) (Signature)