07_-_Payment_Bond.pdf

Patching, Resurfacing and Line Striping on Selected Roads 2025-2026

Payment Bond – Page 1 of 4

PAYMENT BOND

KNOW ALL MEN BY THESE PRESENTS that we, , as Principal

(the “Principal”), and , a corporation organized and existing under laws of the of , as Surety (the“Surety”), are held and firmly bound unto Greenwood County, as Obligee (the“Obligee”), as hereinafter set forth, in the full and just sum of

Dollars ($ . ), lawful money of the United States of America, for the payment of which we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.

WITNESSETH THAT:

WHEREAS, the Principal heretofore has submitted to the Obligee a certain bid, dated

,2026 (the “Bid”), to perform certain work for the Obligee in connection with Patching, Resurfacing and Line Striping on Selected Roads, APRIL 2026, pursuant to plans, specifications, and other related documents which are incorporated into the Bid reference (the “Contract

Documents”), as prepared by the City/County Engineering Department, Greenwood County, Greenwood, South Carolina; and

WHEREAS, the Obligee is a “contract body” under provisions of the laws of South Carolina; and

WHEREAS, before an award shall be made to the Principal by the Obligee in accordance with the

Bid, the Principal shall furnish this Bond to the Obligee, with this Bond to become binding upon the award of the Contract to the Principal by the Obligee in accordance with the Bid; and

WHEREAS, it also is a condition of the Contract Documents that this Bond shall be furnished by the Principal to the Obligee; and

WHEREAS, under the Contract Documents, it is provided, inter alia, that if the Principal shall furnish this Bond to the Obligee, and if the Obligee shall make an award to the Principal in accordance with the

Bid, then the Principal and the Obligee shall enter an agreement with respect to performance of such work

(the "Agreement"), the form of which Agreement is set forth in the Contract Documents.

Payment Bond – Page 2 of 4

NOW THEREFORE, the terms and conditions of this Bond are and shall be that if the Principal and any subcontractor of the Principal to whom any portion of the work under the Agreement shall be subcontracted, and if all assignees of the Principal and of any such subcontractor, promptly shall pay or shall cause to be paid, in full, all money which may be due any claimant supplying labor or materials in the prosecution and performance of the work in accordance with the Agreement and in accordance with the

Contract Documents, including any amendment, extension or addition to the Agreement and/or the Contract

Documents, for material furnished or labor supplied or labor performed, then this Bond shall be void;

otherwise, this Bond shall be and shall remain in force and effect.

This Bond, as provided, shall be solely for the protection of claimants supplying labor or materials to the Principal or to any subcontractor of the Principal in the prosecution of the work covered by the

Agreement, including any amendment, extension or addition to the Agreement. The term “claimant”, when used herein, shall mean any individual, firm, partnership, association or corporation. The phrase “labor or materials”, when used herein, shall include public utility services and reasonable rentals of equipment, but only for periods when the equipment rented is actually used at the site of the work covered by the

Agreement. As required, the provisions of this Bond shall be applicable whether or not the material furnished or labor performed enters into and becomes a component part of the public building, public work or public improvement contemplated by the Contract Documents and the Agreement.

As provided and required, the Principal and the Surety agree that any claimant, who has performed labor or furnished material in the prosecution of the work in accordance with the Agreement and in accordance with the Contract Documents, including any amendment, extension or addition to the

Agreement and/or the Contract Documents, and who has not been paid therefore, in full, before the expiration of ninety (90) days after the day on which such claimant performed the last of such labor or furnished the last of such material for which payment is claimed, may institute an action upon this Bond, in the name of the claimant, in assumpsit, to recover any amount due the claimant for such labor or material, and may prosecute such action to final judgment and have execution upon the judgment; Provided, however, that: (a) any claimant who has a direct contractual relationship with any subcontractor of the

Principal, but has not contractual relationship, expressed or implied, with the Principal, may institute an action upon this bond only if such claimant first shall have given written notice, served in the manner required to the Principal, within ninety (90) days from the date upon which such claimant performed the last

Payment Bond – Page 3 of 4 of the labor or furnished the last of the materials for which payment is claimed, stating, with substantial accuracy, the amount claimed and the name of the person for whom the work was performed or to whom the material was furnished, and (b) no action upon this Bond shall be commenced after the expiration of one (1) year from the day upon which the last of the labor was performed or material was supplied, for the payment of which such action is instituted by the claimant; and (c) every action upon this Bond shall be instituted either in the appropriate court of the County where the Agreement is to be performed or of such other county as South Carolina statutes shall provide, or in the United States district court for the district in which the project, to which the Agreement relates, is situated, and not elsewhere.

The Principal and the Surety agree that any alterations, changes and/or additions to the Contract

Documents, and/or any alterations, changes and/or additions to the work to be performed under the

Agreement in accordance with the Contract Documents, and/or any alterations, changes and/or additions to the Agreement, and/or any giving by the Obligee of any extensions of time for the performance of the

Agreement in accordance with the Contract Documents, and/or any act of forbearance of either the Principal or the Obligee toward the other with respect to the Contract Documents and the Agreement, and/or the reduction of any percentage to be retained by the Obligee as permitted by the Contract Documents and by the Agreement, shall not release, in any manner whatsoever, the Principal and the Surety, or either of them, or their heirs, executors, administrators, successors and assigns, from liability and obligations under this

Bond; and the Surety, for value received, does waive notice of any such alterations, changes, additions, extensions of time, acts of forbearance and/or reduction of retained percentage.

IN WITNESS WHEREOF, the Principal and the Surety cause this Bond to be signed, sealed, and delivered this day of , 2026.

(INDIVIDUAL PRINCIPAL)

(SEAL)

Signature of Individual

Witness: Trading & Doing Business As:

Payment Bond – Page 4 of 4

(PARTNERSHIP PRINCIPAL)

Name of Partnership

Witness:

By: (SEAL)

Partner

By: (SEAL)

Partner

By: (SEAL)

Partner

By: (SEAL)

Partner

(CORPORATION PRINCIPAL)

Name of Corporation

By:

(Vice) President Attest:

(Assistant) Secretary

(Corporate Seal)

(CORPORATION SURETY)

Name of Corporation Witness:

**By:

Attorney-in-Fact

**Attach an appropriate power of attorney, dated as of the same date as the Bond, evidencing the authority of the Attorney-in-Fact to act in behalf of the corporation.

END OF SECTION