1-011 PERFBOND.pdf

395 KB Posted

Attached to
26003270 FY 2026 Micro-Surface and Slurry Seal Project
Solicitation number
26003270
Issued by
Mason County, Texas

About this file

Written by GovTribe AI ·

This is a Performance Bond document issued by the State of Texas, County of Midland, for the City of Midland, Texas in connection with the FY 2026 Micro-Surface and Slurry Seal Project. The bond secures the principal contractor's obligation to faithfully perform work in accordance with contract plans, specifications, instructions to bidders, and general and special conditions. The work encompasses labor, material, supervision, and traffic control necessary to complete the slurry seal project. The bond amount is left blank in the template document and would be populated upon contract execution. The bond ensures that if the principal fails to perform the work as specified, the surety will be liable for completion of the contract obligations. The document establishes that venue for any legal action arising from the bond shall lie in Midland County, State of Texas.

The performance bond stipulates that the surety waives notice of any changes, extensions of time, alterations, or additions to contract terms, work scope, plans, specifications, or drawings. The bond further provides that any assignment of the contract, as permitted in the instructions to bidders, shall not affect the surety's obligations. The document requires that a Power of Attorney form be attached and approval from the City Attorney be obtained. The bond is effective as of the execution date, with signature blocks provided for both the principal and surety, along with their respective addresses. This standard performance bond template was revised in August 2012 and serves as a guarantee of faithful contract performance for the City of Midland's infrastructure project.

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PerfB 1

PERFORMANCE BOND

THE STATE OF TEXAS §

COUNTY OF MIDLAND § SURETY NO

KNOW ALL MEN BY THESE PRESENTS, THAT (Hereinafter called the Principal[s]), as Principal(s), and (Hereinafter called the Surety), as Surety, are held and firmly bound unto the City of Midland, Texas a home rule municipal corporation of Midland County, Texas, (hereinafter called the Obligee), in the amount of

DOLLARS

($ ) for the payment whereof the said Principal and surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these presents.

WHEREAS, the Principal has entered into a certain written contract with the Obligee, dated the day of , 20 , for the furnishing of materials and equipment to perform all labor and work necessary for the construction of

, specifically including in the scope of this work and bond, the additional maintenance guaranty provisions set forth in the contract conditions, which contract is hereby referred to and made a part hereof as fully and to the same extent as if copies at length herein, as well as the Principal’s primary obligation to perform according to plans and specifications.

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall faithfully perform the work in accordance with the plans, specifications, instructions to bidder, general and special conditions and other contract documents, including any addendum thereto, then this obligation shall be void; otherwise to remain in full force and effect.

PerfB 2

PROVIDED further that if any legal action be filed upon this Bond venue shall lie in Midland County, State of Texas.

Surety, for value received, stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract, or to the work performed thereunder, or the plans, specifications or drawings accompanying the same, or any assignment of the contract as may be provided for in the instructions to bidders, shall in anywise affect its obligation on this Bond, and it does waive notice of any such change, extension of time, alteration or addition to the terms of the contract, assignment thereof, or the work to be performed thereunder.

IN WITNESS WHEREOF, the said Principal and surety do sign and seal this instrument, this day of , 20 .

Principal Surety

By By

Address Address

APPROVED AS TO FORM:

City Attorney

NOTE: Attach Power of Attorney

Form Revised August 2012

File details come from the government source that posted it. Updated .