20-016 Payment Bond.pdf
PDF 79 KB Posted
- Attached to
- 26005663 U26-01 Utility Extension Program 07
- Solicitation number
- 26005663
- Issued by
- Mason County, Texas
About this file
This is a Payment Bond document issued by the City of Midland, Texas, for the Utility Extension Program 07 project. The bond serves as a surety agreement between the contractor (Principal), the surety company, and the City of Midland (Obligee) to guarantee payment to all labor and material suppliers involved in the project. The proposed work encompasses the furnishing of materials and labor necessary to complete the utility extension program, along with associated miscellaneous and appurtenant work. The bond amount and specific contract execution dates are not completed in the template document provided.
The Payment Bond obligates the Principal and Surety to ensure that all claimants supplying labor and materials—whether directly to the Principal or through subcontractors—receive payment for work performed under the contract. The bond remains in full force and effect unless the Principal fulfills all payment obligations, at which point the bond obligation becomes null and void. The Surety waives notice of any changes, extensions of time, alterations, additions to contract terms, work modifications, or assignments of the contract that may occur during project execution. The document requires execution by both the Principal and Surety, approval by the City Attorney, and attachment of a Power of Attorney Form to be valid.
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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 Utility Extension Program 07 , 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 June 2026 payment bond
File details come from the government source that posted it. Updated .