Know All Persons by These Presents, That We, | ||||||
, of | ||||||
, | ||||||
hereinafter referred to as Principal and | , a | |||||
corporation organized and existing to do business in the State of Illinois, for the use and benefit of all persons who may be damaged by breach of this bond, as Obligees, in the penal sum of $50,000, lawful money of the United States of America, for the payment of which sum, well and truly to be made, we bind ourselves, our executors, administrators, successors and assigns, firmly by these presents. The condition of this obligation is such that the principal has made application to the Illinois Secretary of State for certification for the purpose of exercising the vocation of an online only adult education course provider. If the Principal faithfully complies with the Illinois Vehicle Code and all rules and regulations that have been or may hereafter be in force concerning the license or permit, and shall save and keep harmless the Obligees from all loss or damage that may be sustained as a result of the issuance of the license or permit to the Principal, this obligation shall be void; otherwise, this obligation shall remain in full force and effect. The bond will expire but may be continued by renewal certificate signed by Principal and Surety. The Surety may at any time terminate its liability by giving 30 days written notice to the Commercial Driver Training Section of the Department, 650 Roppolo Drive, Elk Grove Village, Illinois 60007, and the Surety shall not be liable for any default after that 30 day notice period, except for defaults occurring prior thereto. | ||||||
Signed, Sealed and Dated this | day of | , 20__ | ||||||
Principal | ||||||||
Surety | ||||||||
By | ||||||||
Attorney-in-fact | ||||||||
Ill. Admin. Code tit. 92, § 1066.20