17-012 9.1 Performance Bond.pdf
PDF 492 KB Posted
- Solicitation number
- 26002818
- Issued by
- Mason County, Texas
About this file
This is a Performance Bond document for the City of Midland, Texas related to the Midland International Air and Space Port Beautification Project (Project #900476-505). The bond serves as a surety agreement whereby the Principal contractor and Surety guarantee faithful performance of work in accordance with the contract plans, specifications, instructions to bidders, and general and special conditions. The work encompasses the furnishing of materials and equipment along with all necessary labor for the beautification project at Midland International Air and Space Port. The bond is conditioned upon the Principal's complete and timely performance of all obligations outlined in the contract documents, with venue for any legal action established in Midland County, Texas.
The bond document is a template form with blank spaces for insertion of the Principal's name, Surety information, bond amount in dollars, and contract execution date. The Surety waives notice of any changes, extensions of time, alterations, or additions to contract terms, work specifications, drawings, or assignments, confirming that such modifications will not affect the Surety's obligation under the bond. The document requires signatures from both the Principal and Surety representatives, their respective addresses, and approval as to form by the City Attorney. A Power of Attorney must be attached to the bond at execution.
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Text version
1909 West Wall Street, Suite K Midland, Texas 79701
P.O. Box 6040 Midland, Texas 79704 (Mailing Address) Office 432.262.0999 Fax 432.262.1475 www.maverick-eng.com
Project # 900476-505
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9.1 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.
1909 West Wall Street, Suite K Midland, Texas 79701
P.O. Box 6040 Midland, Texas 79704 (Mailing Address) Office 432.262.0999 Fax 432.262.1475 www.maverick-eng.com
Project # 900476-505
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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
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