5-Attachment I - Performance Bond for Public Works over 100,000.pdf

Attachment I

PERFORMANCE BOND FOR PUBLIC WORKS CONTRACTS OVER $100,000

BOND NO._________________

Public Works Contracts Over $100,000 – Pursuant to Texas Government Code 2253.001, et.seq, as amended

STATE OF TEXAS

COUNTY OF HARRIS

KNOW ALL MEN BY THE PRESENTS:

That address: phone: , hereinafter called the Principal;

and _______________________address: ________________________ phone: ________________, a corporation;

existing under and by virtue of the laws of the State of _______________ and authorized to do an indemnifying business in the State of Texas, and whose principal office is located in the City of __________________State of _____,whose registered agent residing in the State of Texas, authorized to accept service in all suits and actions brought within said State, is (name):__________________________ address: _________________________________ hereinafter called Surety, are held and firmly bound unto the County of Harris, State of Texas, in the full sum 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___ to:

Job No.

which contract is hereby referred to and made a part hereof as fully and to the same extent as fully and to the same extent as if copied at length herein.

The Principal and the Surety hereon each agree, bind and obligate himself and themselves to pay to the County of Harris, Texas, all loss or damage to it occasioned by reason of failure of the Principal to comply strictly with each and every provision contained in said contract and agreement, and further agree, bind and obligate themselves to save and keep harmless the County of Harris from any and all damages expense and claims of every kind and character which the County of Harris may suffer directly or indirectly, as a result of the execution of the contract herein secured.

If the said Principal shall fail to comply with any of the contract to such an extent that it shall be forfeited or abandoned by him, or declared abandoned or suspended by the County, then said Surety shall have the right and privilege within five (5) days after the date of notice of such action from the County, to assume control of the contract and all work thereunder and to sublet or complete it in strict conformity with the provisions of said contract; and provided, further, that failure on the part of the Surety to do so within said five (5) days will work an immediate forfeiture of all right to thereafter assume control of the contract and the work thereunder. Failure of the County to give the Surety notice of any default neglect, or omission of the Principal shall not diminish the obligations of the Surety in any respect.

PROVIDED, HOWEVER, that this bond is executed pursuant to the provisions of Texas Government Code 2253.001, et. seq, as amended, and all liabilities of this bond shall be determined in accordance with the provisions of said article to the same extent as if it were copied at length herein.

IN WITNESS WHEREOF, the said Principal and Surety have signed and sealed this instrument this day of__________________, 20___.

(Principal)

I certify that the Commissioner's ____________________________________ Court approved this Bond on (Corporate Surety)

By: ___________________________________ Deputy County Clerk (Attorney-in-fact) Address: _________________________________

Phone: ________________________________

STATE OF TEXAS