21-015 Performance Bond.pdf

80 KB Posted

Attached to
26005663 U26-01 Utility Extension Program 07
Solicitation number
26005663
Issued by
Mason County, Texas

About this file

Written by GovTribe AI ·

This is a Performance Bond document issued by the City of Midland, Texas for Utility Extension Program 07. The bond secures the principal contractor's obligation to furnish materials and equipment and perform all labor and work necessary for the construction project in accordance with the contract plans, specifications, instructions to bidders, and general and special conditions. The bond includes maintenance guaranty provisions as specified in the contract conditions. The document establishes that the surety waives notice of any changes, extensions of time, alterations, or additions to the contract terms, work scope, plans, specifications, or drawings, and acknowledges that assignment of the contract shall not affect its obligation on the bond. Venue for any legal action arising from the bond is established in Midland County, State of Texas.

The performance bond amount is left blank in the template document, to be completed upon execution. The bond requires execution by both the principal and surety with appropriate signatures, addresses, and approval by the City Attorney. A Power of Attorney Form must be attached to the bond. The document is dated as revised in June 2026 and serves as a guarantee that the contractor will faithfully perform all work according to contract documents or the surety shall be liable for damages resulting from the contractor's failure to perform.

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PerfB 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

Utility Extension Program 07 , 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.

PerfB 2

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

Form Revised June 2026

Performance bond

File details come from the government source that posted it. Updated .