Bond-standard_-_generic.pdf

BD 1

Performance, Maintenance and Guarantee Bond

KNOW ALL MEN BY THESE PRESENTS, THAT WE _________________________________________________

,Contractor, as Principal, and as surety, are held and firmly bound unto the City of Royal Oak, Michigan (hereinafter called the CITY) in the sum of: Dollars

($ ) to be paid to the CITY for which payment well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally to those presents.

THE CONDITION OF THIS OBLIGATION IS SUCH THAT,

WHEREAS, the above named Principal did on the day of , 20 by articles that date, enter into a Contract with the CITY for the ________________________________________________________.

NOW THEREFORE, if the said Principal shall save and hold harmless the said CITY from all public liability and damages of every description in connection therewith, shall well and faithfully in all things fulfill the said Contract according to all the conditions and stipulations therein contained, in all respects, and shall save and hold harmless the said CITY from and against all liens and claims of every description in connection therewith and for a period of one year after the completion of the work upon certification of the Engineer shall replace all work performed and materials furnished that are not performed or furnished according to the requirements of the Contract and make good all defects thereof which shall become apparent before the expiration of said period of one year, then the obligation shall be void and of no effect, but otherwise it shall remain in full force and virtue, and in the event that the said CITY shall extend the time for the completion of said work or otherwise modify elements of the Contract in accordance with the provisions thereof, such extension of time or modification of the Contract shall not in any way release sureties on this bond.

NOW THEREFORE, the Principal guarantees that for a period of one (1) year from the date of the final estimate he will, without cost to the CITY, keep in good order and repair any defect in the work done under said Contract by his employees, agents, subcontractors, or material suppliers, that may develop during said time due to improper materials, defective equipment, workmanship or arrangements, and that he will likewise restore to good condition any work disturbed while correcting such defects, excepting only such part or parts of said work which may have been disturbed without his consent or approval after acceptance thereof by the CITY: and that whenever directed to do so by the CITY, through written notice served personally or by mail upon the Principal at or upon the Surety (Sureties) at , he will proceed at once to make the repairs specified, and in case of failure to do so, within one week from the date of service of said notice or such additional time as may be fixed therein the CITY shall have the right to purchase such materials and employ such labor and equipment as may be necessary to undertake, do and make such repairs, and to be reimbursed by the Principal or Surety (Sureties) for the full expense thereof. If it is necessary to make any repair or set a barricade at once to protect life and property, the CITY may take such action immediately without notice to the

Principal or Surety (Sureties). The CITY shall not be obligated to obtain the lowest bids for doing the work, or any part thereof, but all sums actually paid therefor shall be reimbursed by either the Principal or Surety (Sureties). In this connection, the judgment of the CITY shall be final and conclusive. If the Principal, for a period of one (1) year from the date of the final estimate, shall keep the work done under the aforesaid Contract in good order and repair, excepting only such part or parts of said work which may have been disturbed without his consent or approval after acceptance thereof by the CITY, and shall, whenever given notice as herein provided, immediately proceed to make specified repairs, or, in default thereof shall reimburse the CITY for expenses incurred in making such repairs, and shall fully indemnify, defend and save the CITY harmless from all suits and actions for damages of every name and description brought or claimed against it, for or on account of any injury or damage to person or property received or sustained by any party or parties, by or from any of the acts or omission or through the negligence of the Principal's employees, agents, subcontractors or material suppliers in the performance of the work required by said Contract, and from any and all claims arising under the Workers' Compensation Act of the State of Michigan, as amended, then the above obligation shall be void, otherwise to remain in full force and effect.

BD 2

IN WITNESS THEREOF, the parties herein have caused this instrument to be executed by their respective officers this day of

, 20 .

Signed, Sealed and Delivered in the presence of:

(Seal)

Principal

BOND CORRECT AS TO FORM:

Niccolas Grochowski, City Attorney

Performance Bond (Maintenance Stipulation)

BD 3

Labor and Material Bond

KNOW ALL MEN BY THESE PRESENTS, that we , Contractor, as Principal, and

, as Surety, are held and firmly bound unto the City of Royal Oak, Michigan (hereinafter called the CITY) in the sum of

Dollars ($ ) to the payment whereof, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally to these presents.

THE CONDITION OF THIS OBLIGATION is such that:

WHEREAS, the above named Principal did on the day of , 20 , by articles that date, enter into a Contract with the CITY for the ___________________________________________________.

AND WHEREAS, this bond is given in compliance with and subject to the provisions of Act No. 187 of the Public Acts of Michigan (1905) as amended, the same being sections 570.101 to 570.105 inclusive, of the Compiled Laws of the State of Michigan for 1948 and P.A. 213 (1963), as amended.

NOW THEREFORE, if the above named principal, legal representatives, or successors shall pay or cause to be paid to all subcontractors, persons, firms and corporations as the same may become due and payable, all indebtedness which may arise from said principal to a subcontractor, to any person, firm or corporation on account of any labor performed or materials furnished in connection with the Contract, construction and work herein referred to, then this obligation shall be void; otherwise to remain in full force and effect.

This bond is given upon the express condition that any changes, alterations, or modifications that may be hereafter recorded or made in the construction and complete installation of the work herein referred to, or the placing of an inspector or superintendent thereon by the CITY shall not operate to discharge or release the sureties thereon.

IN WITNESS THEREOF, the parties hereto have caused this instrument to be executed by their respective officers this day of

, 20 .

Signed, Sealed and Delivered in the presence of:

Principal

BOND CORRECT AS TO FORM:

Niccolas Grochowski, City Attorney

Labor and Material Bond