10-Attachment F-2 - Payment Bond.pdf

C of D-170-BO (Rev. 5-74)

P A Y M E N T B O N D (See Instructions on Reverse Side)

CONTRACT NO.

PRINCIPAL (Name, and legal status) DATE OF CONTRACT

SURETY DATE BOND EXECUTED

AMOUNT OF BOND (Express in words and figures)

KNOW ALL MEN BY THESE PRESENTS, That we, the PRINCIPAL and SURETY above named, are held and firmly bond unto the City of Detroit, Michigan, a municipal corporation, hereinafter called the City, in the amount stated above, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators, and successors, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH, that whereas the principal entered into a certain contract with the City, numbered and dated as shown above and hereto attached, and which shall be deemed a part hereof as fully as if set out herein.

AND WHEREAS, This bond is given in compliance with and subject to the provisions of Act No. 213 of the Public Acts of

Michigan, for the year 1982, and the provisions of the City of Detroit Charter.

NOW, THEREFORE, if the principal shall well and promptly make payment to all persons supplying labor and material in the prosecution pf the work provided for in said contract, and any and all duly authorized modifications of said contract that may hereafter be made, notice of which modifications to the surety being hereby waived, then this obligation to be void; otherwise to remain in full force and virtue.

IN WITNESS WHEREOF, the above-bounded parties have executed this instrument under their several seals on the date indicated above, the name and corporate seal of each corporate party being hereto affixed and these presents duly signed by its undersigned representative, pursuant to authority of its governing body.

PRINCIPAL: INDIVIDUAL DOING BUSINESS UNDER ASSUMED NAME PARTNERSHIP

NAMES OF

ALL

PARTNERS

BUSINESS

ADDRESS:

IN PRESENCE OF: WITNESS

1. ______________________________________________

2.__________________________________________ (5-74)

AS TO

AS TO

PRINCIPAL - INDIVIDUAL/PARTNER – SIGNATURE

1. ______________________________________(L.S.)

2._______________________________________(L.S.)

CORPORATE PRINCIPAL

STATE IN WHICH INCORPORATED BUSINESS

ADDRESS:

EXECUTE

CORPORATE CERTIFICATE

ON REVERSE SIDE

OFFICER’S

SIGNATURE

AFFIX

CORPORATE

SEAL

TITLE

CORPORATE SURETY

STATE IN WHICH INCORPORATED BUSINESS

ADDRESS:

ATTEST: OFFICER’S

SIGNATURE

AFFIX

CORPORATE

SEAL

TITLE

INSTRUCTIONS

1. This form shall be used wherever a Payment bond is required under the provisions of Act No. 213 of the Public Acts of Michigan for the year 1982, and the provisions of the City of Detroit Charter. There shall be no deviation from this form except as authorized by the Corporation Counsel of the City of Detroit.

principal is doing business under an assumed or trade name, naming it. The bond shall be signed by the individual on the line opposite the scroll seal (L.S.), using the same form of signature as used in the Contract, and the signature duly witnessed.

Co-partnership. The names of the individual partners, their business address, with the recital that such individuals are partners composing a firm, naming it. The bond shall be signed on line opposite the scroll seal by the same partner who signed the

Contract, using the same form of signature, and the signature duly witnessed.

Corporation. The full business name of the corporation, business address, with the recital that the principal is a corporation, and the name of the state in which incorporated. The bond shall be signed by an authorized officer of the corporation, followed by his title, and the corporate seal affixed.

The official character and authority of the person executing the bond for the corporation shall be certified by the secretary or assistant secretary, according to the

Certificate provided below. In lieu of such certificate there may be attached to the bond copies of so much of the records of the corporation as will show the official character and authority of the officer signing, duly certified by the secretary, under the corporate seal, to be true copies.

4. The date of this bond must not be prior to the date of instrument in connection with which it is given.

2. The surety on the bond may be any corporation licensed by the State of Michigan to act as surety and satisfactory to the City of Detroit.

The full business name of the corporation surety, business address, and the name of the state in which incorporated shall be inserted in the space provided therefor. The bond shall be executed and attested under corporate seal as indicated on the form.

3. The principal shall be identified by insetting in the space provided therefor the following information according to the principal’s legal status, and the bond executed by the principal in accordance with the following requirements.

Individual. The name including full Christian name, business or residence address, with the recital that the principal is an individual. The bond shall be signed by the individual on the line opposite the scroll seal (L.S.), using the same form of signature as used in the Contract, and the signature duly witnessed.

Individual Doing Business Under an Assumed Name. The name of the individual, business or residence address; with the recital that the

CERTIFICATE AS TO CORPORATE PRINCIPAL

I, __________________________________________________________, certify that I am the _______________________________________________

Of the corporation named as principal within the bond; that ___________________________________________________________________________, Who signed the said bond on behalf of the principal, was then ___________________________________________________________ of said corporation;

that I know his signature, and his signature thereto is genuine; and that said bond was duly signed and the corporate seal affixed for and in behalf of said corporation by authority of it’s governing body.