Title Surety Bond Department of Highway for a Motor Vehicle
You are required to complete the Title Surety Bond Department of Highway for a Motor Vehicle Form accurately. The mentioned form is to be submitted to the Division of Motorist Services, Department of Highway Safety and Motor Services.
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STATE OF FLORIDA TITLE SURETY BO ND DEPARTME NT OF H IGHWAY FOR A MOTOR VEHICLE SA FETY a nd MOTOR VEHICLES DIVISION OF MOTORIST SERVICES KNOW ALL PERSONS BY THESE PRESENTS: BOND NUMBER: __________________________ That I/we ______________________________________________________________________________________, as Principal and ______________________________________________________________________________________, a Surety Co mpany, qualified to do business in the State of Florida, as surety are held and firmly bound unto the duly appointed and qualified Director of the Division of Motorist Services of the State of Florida, and the successors in office of said Director, in the penal sum of $ _________________, which is twice the value of the vehicle established by a current national appraisal guide (Kelly Blue Book or NADA) for the payment which, well and truly to be made, we do hereby jointly and severally bind ourselves, our heirs, legal representatives, successors and assigns, firmly by these presents: WHEREAS , the Principal has been unable to provide a certificate of title that assigned the prior owner’s interest in the vehicle and has submitted an application and affidavit to the Department of Highway Safety and Motor Vehicles of the State of Florida for a Certificate of Title on this certain vehicle described to wit: YEAR ________ MAKE ________ ____________________ BODY TYPE ______________ RETAIL VALUE: $ ______ __________ FLORIDA TITLE NUMBER _________ _________ VEHICLE IDENTIFICATION NUMBER ____________________________________ ___ AND WHEREAS , the Principal and Surety herein desire to comply with the provisions of Florida Statute 319.23(7) to submit a properly executed surety bond conditioned as set forth below. THE CONDITIONS OF THIS OBLIGATION ARE SUCH THAT: If the aforesaid Principal shall indemnify all prior owners and lienholders and all subsequent purchasers of the vehicle or persons who acquire a security interest in the vehicle, and their successors in interest, against any expense, loss, or damage, including reasonable attorney fees, occurring because of the issuance of the certificate of title for the vehicle or for a defect in or undisclosed security interest on th e right, title, or interest of the applicant to the vehicle, this obligation shall be void; otherwise, it shall remain in full force and effect. This bond to be effective on the ___________ day of ________ ____________, _________ , and to expire three (3) years from the effective date of said bond. PROVIDED, HOWEVER, that an interested person has a right to recover on the bond for a breach of the bond’s condition. The aggregate liability of the surety to all persons may not exceed the amount of the bond. IN WITNESS WHEREOF , the above bounden parties have executed this bond under their several seals this ___________ day of ____________________, _ ___ _____, the name and corporate seal of each corporate party being affixed hereto and these presents duly signed by its undersigned representatives, pursuant to authority of its governing body. This bond is null and void unless signed by the Principal and Surety. When executed by an attorney -in -fact, the power of attorney (original copy) must be attached. Any alteration of this document necessitates the issuance of a new bond or an attached amendment from the Surety Company. TYPED NAME OF PRINCIPAL ( OWNER & CO-OWNER, if applicable ) SIGNATURE OF PRINCIPAL ( OWNER ) SIGNATURE OF PRINCIPAL ( CO- OWNER, if applicable ) SIGNATURE OF SURETY AGE NT (SEAL) TYPED NAME OF SURETY B OND COM PANY TYPED NAME OF SURETY AGENT ADDRESS OF SURETY B OND COMPA NY ADDRESS OF SURETY AGE NT CIT Y/S TATE/ZIP C ODE CITY/S TATE/ZIP CODE TELEP HONE NU MBER TELEPHONE NU MBER HSM V 8 2033 (REV. 12/12)
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