Performance_Bond.docx
DOCX document 21 KB Posted
- Solicitation number
- 24-095
- Issued by
- Washington County, Barlow City, Oregon
About this file
The document is a Performance Bond for the City of Beaverton, Oregon, relating to a tenant improvement project for the Oregon Startup Center (OSC) located on the third floor of the Beaverton E-Suites. The project involves remodeling spaces for a Non-Profit Incubator, creating offices for OSC, and constructing a shared kitchenette in an occupied building with multiple existing tenants. The bond ensures the contractor's faithful performance of the contract, with the surety guaranteeing full completion of the work according to specified terms.
The Performance Bond is set at 100% of the estimated contracted cost, providing financial protection for the City of Beaverton against potential contractor default or incomplete work. The bond includes provisions that allow for changes, extensions, or alterations to the contract without invalidating the surety's obligations. The document indicates that the contractor will be responsible for indemnifying and protecting the city's interests throughout the project's duration, with the bond serving as a financial guarantee of the contractor's commitment to complete the tenant improvement work as specified.
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Other files
| File | Type | Posted |
|---|---|---|
| ITB_for_Non-profit_Incubator_Tenant_Improvements_Build_Out_(Addendum_#2_Revision).pdf | ||
| Hardware_Schedule.pdf | ||
| NPI_TI_-_12725_MILLIKAN_WAY_-_SPECIFICATIONS.pdf | ||
| 20240221_Updated_Floor_Plan.pdf | ||
| NPI_TI_-_12725_MILLIKAN_WAY_-_ARCHITECTURAL_PLANS.pdf | ||
| Grant_Agreement_B-22-CP-OR-0741.pdf | ||
| City_of_Beaverton_CVSFRF_Grant_8091-final_(1).pdf | ||
| LABOR_AND_MATERIAL_PAYMENT_BOND.docx | DOCX document | |
| Notice_to_Proceed.docx | DOCX document | |
| Locates.docx | DOCX document | |
| Construction_Contract_-_Sample.docx | DOCX document | |
| Laws_to_be_Observed.docx | DOCX document |
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Text version
FAITHFUL PERFORMANCE BOND
BOND NO. ___________________
KNOW ALL MEN BY THESE PRESENTS that:
WHEREAS, the City of Beaverton, (“City”) has awarded to _____________________________ ("Principal") a certain contract dated the _____ day of _________, 20__, a copy of which is attached and incorporated herein for the construction of the CITY OF BEAVERTON _______________________________ PROJECT; and
WHEREAS, the Principal is required under the terms of said contract to furnish a Bond for the faithful performance of the contract;
NOW, THEREFORE, we, the Principal and __________________________________________ ____________________________________as surety, are held and firmly bound unto the City of Beaverton the penal sum of _________________________________________Dollars and ____________ Cents ($_________) lawful money of the United States, being not less than one hundred percent (100%) of the estimated contracted cost of the work, for the payment of which we bind ourselves, our heirs, executors, administrators and successors, jointly and severally.
The condition of this obligation is such that if above bound Principal shall perform the covenants, in that contract on its part to be kept and performed at the time and in the manner therein specified, and in all respects according to their true intent and meaning, and shall indemnify and save harmless the City, its officers and agents as therein stipulated, then this obligation shall become null and void; if not, this obligation shall be and remain in full force and effect.
The surety, for value received, hereby agrees that no change, extension of time, alteration, or addition to the terms of the contract or to the work performed thereunder or the specifications accompanying the same shall in any way affect its obligations on this bond, and it hereby waives notice of any change, extension of time, alteration, or addition to the terms of the contract or to the work or to the specifications.
The parties by the signature of their authorized representatives, signify that each has read this contract, understands its terms, and agrees to be bound thereby.
CONTRACTOR:
BY ____________________________________________________
TITLE __________________________________________________
Principal
(If surety is a corporation): I certify that I am authorized by the Board of Directors to enter into this contract on behalf of the corporation and bind the corporation to its terms.
SURETY COMPANY:
BY ____________________________________________________
TITLE __________________________________________________
Attorney-in-fact
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