Exhibit K - Performance Bond.docx
DOCX document 38 KB Posted
- Attached to
- Conroy Road Line Rebuild
- Solicitation number
- S-R33123-00013422
- Issued by
- Wasco County, Oregon
About this file
This document is a Performance Bond for a project involving a District, likely in Oregon, outlining the financial guarantee for contract performance. The bond establishes a binding agreement between a Principal (contractor) and a Surety, with a total penal sum representing the financial coverage for the contract. The bond ensures the Principal will faithfully observe and comply with all contract terms, conditions, and provisions, including performing all contracted work within the prescribed timeframe and protecting the District from potential damages or claims arising from contract performance.
The Performance Bond specifies that the Surety will cover any potential failures or shortcomings by the Principal in executing the contract, with the bond's value serving as a financial safeguard for the District. The bond is executed under Oregon Laws and does not become invalidated by nonpayment of bond premiums. The document provides spaces for signatures from the Principal, Surety, and an Attorney-in-Fact, with a requirement that a Power-of-Attorney must accompany the surety bond. The bond's purpose is to provide financial protection and ensure contractual obligations are met by the Principal.
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Other files
| File | Type | Posted |
|---|---|---|
| Exhibit B - Schedule of Values.docx | DOCX document | |
| Exhibit G NWCPUD STANDARDS.pdf | ||
| Exhibit E~1.kmz | KMZ file | |
| ATTACHMENT 8 - Bidders Designation of Confidential Materials 13424.pdf | ||
| Exhibit C - Unit Rates.docx | DOCX document | |
| Exhibit H - Engineering Report.pdf | ||
| Exhibit J - Payment Bond.docx | DOCX document | |
| Exhibit E - HWY 216 CONLEY RD - PoleData.csv.kmz | KMZ file | |
| 01 - ITB - HIGHWAY 216 CONROY ROAD REBUILD ITB.docx | DOCX document | |
| Exhibit A - Personal Service Agreement.docx | DOCX document | |
| Exhibit D - Project Map.pdf | ||
| Exhibit E - KMZ File.kst | — | |
| Exhibit I - Bid Bond.docx | DOCX document | |
| Exhibit F - Individual Pole Construction Units.pdf | ||
| Pre-Bid Sign-In Sheet~1.pdf |
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Text version
PERFORMANCE BOND
Bond No Solicitation Project Name Project Name
| (Surety #1) | |
| Bond Amount No. 1: | |
| $ |
| (Surety #2)* | |
| Bond Amount No. 2:* | |
| $ |
| * If using multiple sureties |
| Total Penal Sum of Bond: |
| $ |
| We, | as Principal, and the above identified Surety(ies), authorized to transact surety business in Oregon, as Surety, hereby jointly and severally bind ourselves, our respective heirs, executors, administrators, successors and assigns firmly by these presents to pay unto the District the sum of (Total Penal Sum of Bond) |
| $ | (Provided, that we the Sureties bind ourselves in such sum “jointly and severally” as well as “severally” only for the purpose of allowing a joint action or actions against any or all of us, and for all other purposes each Surety binds itself, jointly and severally with the Principal, for the payment of such sum only as is set forth opposite the name of such Surety), and |
WHEREAS, the Principal has entered into a contract with the District, the plans, specifications, terms and conditions of which are contained in the above-referenced Solicitation;
WHEREAS, the terms and conditions of the contract, together with applicable plans, standard specifications, special provisions, schedule of performance, and schedule of contract prices, are made a part of this Performance Bond by reference, whether or not attached to the contract (all hereafter called “Contract”); and WHEREAS, the Principal has agreed to perform the Contract in accordance with the terms, conditions, requirements, plans and specifications, and all authorized modifications of the Contract which increase the amount of the work, the amount of the Contract, or constitute an authorized extension of the time for performance, notice of any such modifications hereby being waived by the Surety:
NOW, THEREFORE, THE CONDITION OF THIS BOND IS SUCH that if the Principal herein shall faithfully and truly observe and comply with the terms, conditions and provisions of the Contract, in all respects, and shall well and truly and fully do and perform all matters and things undertaken by Contractor to be performed under the Contract, upon the terms set forth therein, and within the time prescribed therein, or as extended as provided in the Contract, with or without notice to the Sureties, and shall indemnify and save harmless the District, and members thereof, its officers, employees and agents, against any direct or indirect damages or claim of every kind and description that shall be suffered or claimed to be suffered in connection with or arising out of the performance of the Contract by the Principal or its subcontractors, and shall in all respects perform said contract according to law, then this obligation is to be void; otherwise, it shall remain in full force and effect.
Performance Bond Version 1 2024 Page | 29
Nonpayment of the bond premium will not invalidate this bond nor shall the District, or the above- referenced agencies, be obligated for the payment of any premiums.
This bond is given and received under authority of Oregon Laws, the provisions of which hereby are incorporated into this bond and made a part hereof.
IN WITNESS WHEREOF, WE HAVE CAUSED THIS INSTRUMENT TO BE EXECUTED AND SEALED BY OUR DULY AUTHORIZED LEGAL REPRESENTATIVES.
Dated this day of , 20 .
PRINCIPAL:
By Signature
Official Capacity Attest:
Corporation Secretary
SURETY:
[Add signatures for each surety if using multiple bonds]
BY ATTORNEY-IN-FACT:
[Power-of-Attorney must accompany each surety bond]
Name
Signature
Address
City State Zip
Phone Fax or E-mail
File details come from the government source that posted it. Updated .