4-008 EXHIBIT C rev 12-05-25.pdf

This is an Exhibit C document detailing bonding requirements for the City of Midland's FY 2026 Micro-Surface and Slurry Seal Project in Texas. The project requires labor, material, supervision, and traffic control to complete slurry seal work in accordance with attached specifications and contract documents. Bidders must submit a bid guaranty with their proposal, which can take the form of a certified check, cashier's check, bank money order, irrevocable letter of credit from a bank acceptable to the City, or a bidder's bond on the provided form. The bid guaranty amount must equal five percent (5%) of the largest possible lump sum bid submitted and must be payable without recourse to the City. Proposals submitted without the required bid guaranty will not be considered. All bid sureties and payment bonds must name the City of Midland as Obligee.

For contracts exceeding $50,000, the successful bidder must furnish a Performance & Payment Bond in an amount equal to one hundred percent (100%) of the total contract price. The bond must be executed by a Corporate Surety authorized to do business in the State of Texas and acceptable to the City of Midland, and all bonds must use forms contained in the contract documents. The successful bidder is required to execute the required payment bond and guaranty within fifteen (15) days after notice of award. Bidders are advised to carefully examine both the form of agreement and the bond forms prior to submission.