25-026-Performance_Bond_-_Required.pdf
PDF 104 KB Posted
- Attached to
- Pool LED Lights
- Solicitation number
- RFP-25-026
- Issued by
- Jefferson County, Weston CDP, Colorado
About this file
This Performance Bond is a legal document issued for the City of Wheat Ridge, Colorado, related to the 25-026-Pool LED Lights project at the Wheat Ridge Recreation Center. The bond serves as a guarantee that the Principal (contractor) will fully perform all contractual duties, undertakings, covenants, terms, and conditions of the contract during its original term and any extensions, including a one-year guarantee period. The project involves replacing the original halogen bulbs in the pool area with new LED lights, which are necessary because the current lights are no longer supported by the industry and have begun to fail.
The bond is executed in 2025 and requires the Principal to satisfy all claims, indemnify the Owner from potential costs and damages, and reimburse any expenses incurred due to contract default. The Surety agrees that no changes, extensions, alterations, or additions to the contract terms will affect its bond obligations. The document emphasizes that the Surety waives notice of any contract modifications and that no final settlement between the Owner and Contractor will abridge the rights of any beneficiary with an unsatisfied claim. The Surety must be authorized to transact business in Colorado and appear on the Treasury Department's current list.
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Text version
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS: that
(Name of Contractor)
(Address of Contractor)
A hereinafter called "PRINCIPAL", and
(Name of Surety)
(Address of Surety) hereinafter called "Surety", are held and firmly bound unto the City of Wheat Ridge, 7500 West 29th Avenue, Wheat Ridge, Colorado 80033, hereinafter called "Owner", in the penal sum of dollars
($ ) in lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, successors and assigns, jointly and severally, firmly by these presents.
THE CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the Owner, dated the day of , 2025, a copy of which is hereto attached and made a part hereof for the Project titled, 25-026-Pool LED Lights
NOW, THEREFORE, if the Principal shall well, truly and faithfully perform its duties, all the undertakings, covenants, terms, conditions, and agreements of said Contract during the original term thereof, and any extensions thereof which may be granted by the Owner, with or without notice to the Surety and during the one year guarantee period, and if he shall satisfy all claims and demands incurred under such contract, and shall fully indemnify and save harmless the Owner from all costs and damages which it may suffer by reason of failure to do so, and shall reimburse and repay the Owner all outlay and expense which the Owner may incur in making good any default, then this obligation shall be void; otherwise to remain in full force and effect.
PROVIDED, FURTHER, that the said Surety for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Contract or to the Work to be performed or the Specifications accompanying the same shall in any wise affect its obligation on this Bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the Contract or to the Work or to the Specifications.
PROVIDED, FURTHER, that no final settlement between the Owner and the Contractor shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied.
*Insert "a corporation", "a partnership", or "an individual" as applicable.
IN WITNESS WHEREOF, this instrument is executed in one part, each of which shall be deemed an original, this the day of , 2025
ATTEST: PRINCIPAL
CORPORATE SECRETARY PRINCIPAL
ADDRESS BY
ADDRESS
(SEAL)
SURETY
ATTEST:
SURETY
ADDRESS BY (ATTORNEY IN FACT)
ADDRESS
Note: Date of Bond must not be prior to date of Contract. If Contractor is partnership, all partners should execute bond.
IMPORTANT: Surety companies executing bonds must appear on the Treasury Department's most current list (Circular 570, as amended) and be authorized to transact business in the State of Colorado.
File details come from the government source that posted it. Updated .