92477M - Bond Guar 92477M - Bond Guaranteeing Sponsors' Performance (7-20-2

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Bond Guaranteeing Sponsors’ Performance

U.S. Department of Housing and Urban Development Office of Housing

OMB Approval No. 2502-0598 (Exp. //)

Public Reporting Burden for this collection of information is estimated to average 0.5 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Response to this request for information is required in order to receive the benefits to be derived. This agency may not collect this information, and you are not required to complete this form unless it displays a currently valid OMB control number. While no assurance of confidentiality is pledged to respondents, HUD generally discloses this data only in response to a Freedom of Information Act request.

Warning: Any person who knowingly presents a false, fictitious, or fraudulent statement or claim in a matter within the jurisdiction of the U.S. Department of Housing and Urban Development is subject to criminal penalties, civil liability, and administrative sanctions.

This Agreement is made this ______ day of ________________, 20___, by and between ___________________________, (“Sponsor”), having an office at _____________________, and _________________________, (“Surety”), having an office at _____________________.

Sponsor has entered into a certain Agreement of Sponsor to Furnish Additional Funds with the U.S. Department of Housing and Urban Development (“HUD”) dated __________________________, 20_____, under which Sponsor shall deposit in escrow the sum of ______________________________ Dollars ($____________________) (“Deposit”), on or before __________________, 20____, in order to meet the requirements of the HUD commitment to insure a Loan for the Project identified as __________________________________, HUD Project No. ________________, located in _________________________________. Sponsor and Surety are held and firmly bound unto HUD in the amount of the Deposit, for the payment whereof the Sponsor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally by these presents; and the condition of the obligation is such that if the Sponsor shall make the Deposit required by the Agreement of Sponsor to Furnish Additional Funds, or, in the event that the Sponsor shall default in such obligation, the Surety shall, promptly after written notice of such default, make the Deposit on behalf of the Sponsor.

{The following statement must be included above each party’s signature and appear on the same page as the signature.}

The signatory below certifies that all of the information provided in this Agreement and in any accompanying documentation is true, accurate, and complete, has been made, presented, and delivered for the purpose of influencing an official action of HUD, and may be relied upon by HUD as a true statement of the facts contained therein. The signatory acknowledges that the submission of any false, fictitious, or fraudulent statement, representation, or certification in this Agreement or on any accompanying documents may result in criminal, civil, and/or administrative sanctions, including fines, penalties, and/or imprisonment under applicable federal law.

The parties hereto have duly executed this Bond Guaranteeing Sponsors’ Performance as of the day and year first above written.

SPONSOR: ___________________ SURETY: _______________________________

By: ___________________________ By: _____________________________________

______________________________ ________________________________________

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Previous editions are obsolete

Bond Guaranteeing Sponsors’ Performance

HUD-92477M