4-014 Payment Bond.pdf
PDF 177 KB Posted
- Attached to
- 26006121 D23-01 Jal Draw Excavation
- Solicitation number
- 26006121
- Issued by
- Mason County, Texas
About this file
This Payment Bond form is a standard surety document for the City of Midland, Texas, related to the Jal Draw Excavation project, a drainage improvement initiative located between Barton Creek and State Highway 158 that includes an additive alternate for a shared use trail. The bond serves as a guarantee that the principal contractor will pay all claimants, including labor suppliers and material vendors, who contribute to the work performed under the project contract. The document is structured to bind the principal and surety jointly and severally to the City of Midland as obligee for a specified dollar amount, with the surety waiving notice of any changes, extensions, alterations, or additions to the contract terms, work specifications, plans, drawings, or assignments that may occur during project execution.
The Payment Bond requires execution by both the principal and surety with their respective addresses and signatures, and must be approved as to form by the City Attorney. A Power of Attorney form must be attached to the bond document. The instrument was revised in August 2026 and obligates the surety to maintain full force and effect of the bond obligation regardless of any modifications to the underlying contract, ensuring protection for all parties supplying materials and labor to the project.
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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 Jal Draw Excavation , 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 August 2026
File details come from the government source that posted it. Updated .