18-11 Payment Bond.pdf
PDF 79 KB Posted
- Attached to
- 27000008 Todd Drive Waterline Extension Phase 2
- Solicitation number
- 27000008
- Issued by
- Mason County, Texas
About this file
This is a Payment Bond form issued by the City of Midland, Texas, for the Loop 250 & Todd Road Water Improvements Phase 1 project. The bond serves as a surety guarantee that the principal contractor will pay all claimants, including laborers and material suppliers, who contribute to the project. The document establishes a binding obligation between the principal contractor, the surety company, and the City of Midland as obligee, with the bond amount to be specified upon execution. The bond remains in full force regardless of any changes, extensions, alterations, or additions to the contract terms, work specifications, or project plans, and the surety waives notice of such modifications.
The payment bond is a standard requirement for public construction contracts in Texas and protects workers and suppliers from non-payment. The bond amount, principal contractor name, surety company information, execution date, and approval by the City Attorney must be completed before the bond becomes effective. The form references an attached Power of Attorney form required for execution and indicates a revision date of April 2026. This bond is directly associated with the Todd Drive Waterline Extension Phase 2 project, which involves construction of a potable water line extension in accordance with detailed specifications provided by the City of Midland.
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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 Loop 250 & Todd Road Water Improvements Phase 1 , 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 April 2026 payment bond
File details come from the government source that posted it. Updated .