8/12/2019 Aurora Marijuana Bond Form

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Department of FinanceMarijuana Enforcement Division15151 E. Alameda Pkwy.Aurora, Colorado 80012

City of Aurora, Colorado

Retail Marijuana Establishment License Bond

Name of Bonding Company: _____________________________________________________________________

Bond Number: ___________________________

KNOW ALL PERSONS BY THESE PRESENTS:

That we, ________________________________________, City of Aurora Sales Tax Account Number ____________________Street Address: _______________________________, County of ___________________, State of Colorado.As Principal, and ________________________, a surety company qualified and authorized to do surety business in the State ofColorado, as Surety, are held and firmly bound unto the City of Aurora, Colorado, (hereafter the City) to indemnify the City forany loss suffered by reason of violation of the condition hereinafter contained in the penal sum of TWENTY THOUSANDDOLLARS ($20,000), lawful money of the United States of America, for the payment of which, well and truly to be made, we

bind ourselves, our heirs, executors, administrators, successors and assigned jointly, severally, and firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH that the Principal is applying for the issuance or renewal of a RetailMarijuana Establishment license pursuant to Aurora, Colo. Code (A.C.C.) sections 6-301 et. seq., which license or renewal shall

be valid, if not suspended or revoked, for a license period ending one (1) year from date of issuance or renewal.

NOW, THEREFORE, if the Principal is granted a license by the City, pursuant to its ordinances, rules and regulations, during theterm of said license and any renewal thereof, the Principal shall report and pay all sales and use taxes due the City, in a timelymanner as provided by law.

IT IS FURTHER PROVIDED that the aggregate liability of the Surety for all breaches of the condition of this bond, regardless ofthe number of years this bond shall continue in force, the number of claims made against this bond, and the number of premiumswhich shall be payable or paid shall not exceed the amount of this bond.

IT IS FURTHER PROVIDED that pursuant to A.C.C. 6-309(d), Surety shall not be required to make payments to the City,under this bond until a final determination of failure to pay taxes due to the City has been made by the Finance Director or a courtof competent jurisdiction.

IT IS FURTHER PROVIDED that the Surety will have the right to cancel this bond for any reason authorized by law by filingwritten notice of such cancellation with the Principal and with the Local Licensing Authority for the City at least forty-five (45)days prior to such cancellation. If cancellation is based upon non-payment of premium, this bond may be cancelled by the Suretyupon ten (10) days written notice to the Principal and the Citys Local Licensing Authority.

THIS OBLIGATION may be continued from year to year by the issuance by the Surety of a proper continuation certificatedelivered to the Marijuana Enforcement Division, Local Licensing Authority of the City pursuant to A.C.C. 6-309(d).

Dated the ___________ day of _______________________, 20_______.

For the Principal: _____________________________________ For the Surety: ___________________________________

ACKNOWLEDGEMENT FOR SURETY

COUNTY OF _____________________ /SS

On this _______ day of _________________________, 20_____, before me, a notary public in and for the State ofColorado, personally appeared ________________________, and being by me duly sworn, did say that he/she is anauthorized officer or Attorney-in-Fact of business therein, and that he/she as such officer executed the foregoinginstrument for the purposes herein contained on behalf of said corporation or business entity, and furtheracknowledged that the instrument was executed as the free act and deed of said corporation or business entity.

IN WITNESS WHEREOF, I hereunto set my name and affixed seal on the day and year written abov.

(Seal) ___________________________________Notary Public, State of ColoradoMy Commission expires: _________________________