3-00 61 14 Payment Bond.doc

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PAYMENT BOND

SECTION 00 61 14

PAYMENT BOND

THE STATE OF TEXAS

KNOW ALL BY THESE PRESENTS:

COUNTY OF TARRANT

That we, _____________________________________________________, known as “Principal” herein, and _________________________________________________________, a corporate surety (sureties), duly authorized to do business in the State of Texas, known as “Surety” herein (whether one or more), are held and firmly bound unto the City of Fort Worth, a municipal corporation created pursuant to the laws of the State of Texas, known as “City” herein, in the penal sum of___________________________________________ Dollars ($_______________________), lawful money of the United States, to be paid in Fort Worth, Tarrant County, Texas, for the payment of which sum well and truly be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents:

WHEREAS, Principal has entered into a certain written Contract with City, awarded the _____ day of ______________________, 20_____, which Contract is hereby referred to and made a part hereof for all purposes as if fully set forth herein, to furnish all materials, equipment, labor and other accessories as defined by law, in the prosecution of the Work as provided for in said Contract and designated as 2027 CONCRETE RESTORATION CONTRACT 3, City Project No. 106806.

NOW, THEREFORE, the condition of this obligation is such that if Principal shall pay all monies owing to any (and all) payment bond beneficiary (as defined in Chapter 2253 of the Texas Government Code, as amended) in the prosecution of the Work under the Contract, then this obligation shall be and become null and void; otherwise to remain in full force and effect.

This bond is made and executed in compliance with the provisions of Chapter 2253 of the Texas Government Code, as amended, and all liabilities on this bond shall be determined in accordance with the provisions of said statute.

IN WITNESS WHEREOF, the Principal and Surety have each SIGNED and SEALED this instrument by duly authorized agents and officers on this the _________ day of ___________________, 20_____.

PRINCIPAL:

Signature

Address: _________________________

Witness as to Principal

SURETY:

Signature

Address: _________________________

Witness as to Surety

Telephone Number: ________________ Email Address: ___________________

Note:

If signed by an officer of the Surety, there must be on file a certified extract from the bylaws showing that this person has authority to sign such obligation. If Surety’s physical address is different from its mailing address, both must be provided.

The date of the bond shall not be prior to the date the Contract is awarded.

END OF SECTION

CITY OF FORT WORTH

2027 CONCRETE RESTORATION CONTRACT 3

STANDARD CONSTRUCTION SPECIFICATION DOCUMENTS

CITY PROJECT NO. 106806

Revised December 8, 2023