8-C3. Bond - Maintenance - 100k.pdf

PDF 62 KB Posted

Attached to
Heritage Hills PID New Improvement Project
Solicitation number
BVB 416-26 KD
Issued by
Orange County, Texas

About this file

This is a Maintenance Bond form issued by the City of Amarillo, Texas, for use in general construction contracts. The bond serves as a guarantee that the principal contractor will perform maintenance and repair obligations for defects in materials or workmanship that develop during a specified warranty period following the date of project acceptance by the City. The bond establishes the relationship between the principal contractor, the surety company (authorized to conduct business in Texas), and the City of Amarillo as the obligee. The maintenance guarantee period is to be specified in the contract documents, with the contractor responsible for promptly repairing any identified defects upon written notice from the City.

The bond amount is set at $100,000, with the surety agreeing to perform corrections within thirty calendar days of written notification that the principal has failed to make required repairs. If defects remain uncorrected within this thirty-day period, the City reserves the right to perform the corrections itself, and both the principal and surety become jointly and severally liable for all associated costs, including engineering and legal expenses, plus any direct or consequential damages resulting from the failure to correct defects. Exclusive venue for any legal action is established in Potter County, Texas. The form includes standard signature and attestation blocks for authorized representatives of both the principal contractor and surety company, with the execution date to be completed upon bond issuance.

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Text version

11/13/2008 CHD

MAINTENANCE BOND

(General Contract)

KNOW ALL MEN BY THESE PRESENTS:

That we, , as Principal, and , a corporation organized under the laws of the State of and authorized to do surety business in the State of Texas, as Surety, are held and firmly bound unto City of Amarillo, Texas, as Obligee, in the sum of Dollars ($ ) lawful money of the United States of America, for the payment of which sum will 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 contract with Obligee, dated to construct , said contract being by reference incorporated herein for all purposes; and

WHEREAS, the said Principal is required by the contract to guarantee Principal’s works against defects in materials or workmanship which may develop during the period of ______ years from and after the date of acceptance by said Obligee;

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the

Principal shall faithfully carry out and perform the said guarantee and shall, on due notice, repair and make good at its own expense any and all defects in materials or workmanship in the said work that may develop during the period of year(s) from and after the date of acceptance by said Obligee or shall pay over, make good, and reimburse to said Obligee all loss and damage which said Obligee may sustain by reason of failure or default of said Principal to do so, then this obligation shall be null and void; otherwise to remain in full force and effect.

The Obligee may notify the Principal in writing (with copy to Surety) of any defect(s) for which the Principal is responsible and shall specify in said notice a period of time in which Principal shall correct said defect.

NOTE: DO NOT DATE THE BOND

The Surety agrees to perform the corrections within thirty (30) calendar days after the

Obligee notifies the Surety in writing that the Principal has failed to make the required corrections. If such defect(s) is not corrected within said thirty (30) days, then the Obligee shall have the right to correct the defect(s) and the Principal and Surety, jointly and severally, shall pay all costs and expenses incurred by the Obligee in correcting the defect(s); including but not limited to engineering costs and legal costs, together with any direct and/or consequential damages the Obligee sustains as a result of the failure of the Principal and/or Surety to correct the defect(s).

PROVIDED FURTHER, that if any legal action be filed upon this Bond, exclusive venue shall lie in Potter County, State of Texas.

IN WITNESS WHEREOF, , Principal, has caused these presents to be executed by its authorized attorney in fact and the said , Surety, has caused these presents to be executed by its and attested by its corporate seal this day of 20__.

Attest:

PRINCIPAL, CONTRACTOR

By: By:

Title: Address:

SURETY

By: By:

Title: Address:

Phone:

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