10-00610 Performance Bond.pdf
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- Solicitation number
- IFB 3599-9
- Issued by
- Maricopa County, Arizona
About this file
This is a Statutory Performance Bond form pursuant to Arizona Revised Statutes Section 41-2574, required for the Mesa Community College Building 50 Roof Replacement project in Arizona. The bond serves as a guarantee that the principal contractor will faithfully perform and fulfill all undertakings, covenants, terms, conditions, and agreements of the underlying contract during its original term and any authorized extensions or modifications. The performance bond penalty must equal 100 percent of the contract amount and binds the principal and surety jointly and severally to the obligee (Mesa Community College). The bond covers performance of all roofing work including removal and replacement of multiple roof sections with multi-ply SBS roofing systems, insulation installation, flashing upgrades, drainage improvements, coating application, and associated roofing and mechanical adjustments as detailed in project specifications.
The bond is executed in accordance with Arizona statutory requirements, and the prevailing party in any suit on the bond may recover reasonable attorneys' fees as fixed by a court judge. The document requires completion of specific fields including the principal's name, surety corporation details, obligee identification, bond amount in dollars, contract execution date, and execution date of the bond itself, along with authorized signatures and seals from both the principal and surety representatives. Work explicitly excluded from this bid includes geotechnical reports, materials testing, hazardous materials testing and abatement, structured cabling systems, equipment and racks, voice-data systems, audio-visual systems, and building security systems, which will be procured through separate direct-to-owner contracts if required.
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Text version
PERFORMANCE BOND 00610-1
SECTION 00610 - PERFORMANCE BOND
(Sample)
STATUTORY PERFORMANCE BOND PURSUANT A.R.S. 41-2574
(Penalty of this bond must be 100% of the Contract Amount.)
KNOWN ALL MEN BY THESE PRESENTS:
That, (hereinafter called Principal), as Principal, and , a corporation organized and existing under the laws of the State of , with its principal office in the City of (hereinafter called the Surety), as Surety, are held and firmly bound unto (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 , to which contract is hereby referred to and made a part hereof as fully and to the same extent as if copied at length herein.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that is said Principal shall faithfully perform and fulfill all the undertakings, covenants, terms, conditions, and agreements of said contract during the original term of said contract and any extension thereof, with or without notice of the Surety, and during the life of any guaranty required under the contract, and shall also perform and fulfill all the undertakings, covenants, terms, conditions, and agreements of any and all duly authorized modifications of said contract that may hereby be made notice, of which modifications to the Surety being hereby waived; than the above obligation shall be void, otherwise to remain in full force and effect.
PROVIDE, HOWEVER, that this bond is executed pursuant to the provisions of A.R.S. 41-2574, and all liabilities on this bond shall be determined in accordance with the provisions of said Title, Chapter, and Article, to the extent as if it were copied at length herein.
The prevailing party in suit on this bond shall recover as a part of his judgement such reasonable attorneys' fees as may be fixed by a judge of the Court. Witness our hands this _____________________ day of _______________________________, 20________.
Principal Seal
By:
Surety: Seal
Bond No. By:
Agency of Record
Agency Address
END OF SECTION 00610
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