Exhibit L Payment Bond Form.pdf

Fiber to the Premises (FTTP) - Fiber Optic Construction Services RFP No.: 2026004

EXHIBIT L

PAYMENT BOND FORM

Contractor's Labor & Material Bond (100% Of Contract Price)

RFP No: 2026004

FIBER TO THE PREMISES (FTTP) - FIBER OPTIC CONSTRUCTION SERVICES

(Note: Contractor must use this form, NOT a surety company form.)

BOND NO. _______________________

AMOUNT: $______________________

KNOW ALL MEN BY THESE PRESENTS, that the undersigned, hereinafter called the CONTRACTOR (Principal), and a corporation duly authorized to do a general surety business in the State of Oregon, hereinafter called SURETY, are held and firmly bound unto NORTHERN WASCO COUNTY PEOPLE’S

UTILITY DISTRICT, hereinafter called the OWNER (Obligee), in the sum of

_______________________________________________________________ DOLLARS

($_______________________) to be paid to the OWNER, for which sum of money, will truly be paid, we bind ourselves and our successors and assigns, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH THAT:

WHEREAS, the CONTRACTOR has executed and entered into a certain contract, hereto attached, with the OWNER, dated ______________________, for:

If the CONTRACTOR shall make all payments as required by the terms and conditions of the

Contract Documents, as well as all other payments for goods and services rendered in connection with the performance of the work under this Contract for which any common law or statutory mechanics lien is available, then this obligation shall be void; otherwise it shall be and remain in

Fiber to the Premises (FTTP) - Fiber Optic Construction Services RFP No.: 2026004 full force and effect.

PROVIDED, HOWEVER, that the SURETY, for value received, hereby stipulates and agrees that no change, extension of time, alteration, or addition to the terms of the Contract Documents or to the work to be performed thereunder shall in any way affect its obligation on this Bond, and it does hereby waive notice of any such change, extension of time, alteration, or addition to the terms of the Contract Documents.

PROVIDED, FURTHER, that no final settlement between the OWNER and the CONTRACTOR shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied.

Signed and sealed this _____ day of , 20 ____.

CONTRACTOR

By ____________________________ (Seal)

Attest

SURETY

By____________________________ (Seal)

Attest

APPROVED AS TO FORM: _______________________, 20 _______

By ________________________________________________________________________

NOTE: The SURETY named on this bond shall be one who is licensed to conduct business in the State of Oregon and named in the current list of Companies Holding Certificates of Authority as Acceptable Sureties on Federal Bonds and as Acceptable Reinsuring Companies, as published in Circular 570 (amended) by the Audit Staff Bureau of Accounts, U.S. Treasury Department.

All bonds signed by an agent must be accompanied by a certified copy of the authority to act for the SURETY at the time of the signing of this bond.

END OF SECTION