15-014 Payment Bond.pdf
PDF 79 KB Posted
- Solicitation number
- 27000031
- Issued by
- Mason County, Texas
About this file
This is a Payment Bond document issued by the City of Midland, Texas, for a construction contract related to Phase III of the Sinclair Avenue and Westridge Loop 250 Deceleration Lane project. The bond serves as a financial guarantee that the principal contractor will pay all laborers, material suppliers, and subcontractors involved in the execution of work as specified in the underlying contract. The bond is executed jointly and severally by the principal contractor and surety, binding them to the City of Midland as obligee for the specified dollar amount. The document references a written contract dated for the furnishing of materials and equipment necessary to perform all labor and work on the project.
The payment bond stipulates that the surety waives notice of any changes, extensions of time, alterations, or additions to the contract terms, work scope, plans, specifications, or drawings. The surety agrees that such modifications will not affect its obligation under the bond. The bond requires signatures from both the principal and surety, with an attached Power of Attorney Form, and must be approved as to form by the City Attorney. The document was revised in September 2026 and establishes the surety's commitment to ensure all claimants supplying labor and materials are paid in accordance with the contract requirements.
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Text version
PayB 1
PAYMENT BOND
THE STATE OF TEXAS §
COUNTY OF MIDLAND § SURETY NO
KNOW ALL MEN BY THESE PRESENTS, THAT
of the City of of the County of and State of Texas as Principal, and , as Surety, are held and firmly bound unto the City of Midland, Texas, as Obligee, in the amount of
DOLLARS
($ ) for the payment whereof the said Principal and Surety bind themselves, 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, equipment to perform all labor and work necessary for Phase III Sinclair Avenue & Westridge Loop 250 Deceleration Lane , hereof as fully and to the same extent as if copied at length herein.
NOW, THEREFORE, the condition of the obligation is that if the said Principal shall pay all claimants supplying labor and material to him or a subcontractor in the prosecution of the work provided for in said contract, then this obligation shall be null and void; otherwise, it is to remain in full force and effect.
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 there under, or the plans, specifications of 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
PayB 2 time, alteration or addition to the terms of the contract, assignment thereof, or to the work to be performed there under.
IN WITNESS WHEREOF the said Principal and Surety have signed and sealed 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 September 2026 payment bond
File details come from the government source that posted it. Updated .