Performance_Bond.pdf
PDF 23 KB Posted
- Solicitation number
- 2025-COMMUNITY DEVELOPMENT-070
- Issued by
- Kalamazoo County, Huntington Woods City, Michigan
About this file
This document is a Performance Bond for the City of Jackson, Michigan, located at 161 West Michigan Avenue, Jackson, Michigan 49201. The bond serves as a legal instrument that guarantees a contractor will fulfill their contractual obligations to the city for a specific project. The bond requires the contractor (Principal) and a surety company to jointly ensure that the contractor will complete the project according to the specified drawings, specifications, conditions, and stipulations, while protecting the city from public liability, damages, liens, and claims related to the contract.
The performance bond provides financial protection for the city by holding the contractor and surety responsible for properly executing the contract. If the contractor fails to meet the contract requirements, the surety will be obligated to fulfill the contract or compensate the city for any damages or losses. The bond remains in full force until the contractor successfully completes all contractual obligations, with provisions that any modifications, time extensions, or forbearance by either party does not release the principal or surety from their liability. The document includes spaces for signatures from the contractor (Principal), surety, witnesses, and requires an attached power of attorney.
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Text version
BOND NO.
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS, that we, _______________________________ Contractor, as Principal, and as Surety, are held and firmly bound unto THE CITY OF JACKSON, MICHIGAN, 161 West
Michigan Avenue, Jackson, Michigan 49201, Owner, in the sum of (___________________) to be paid to the Owner for which payment well and truly be made we jointly and severally bind ourselves, our heirs, executors, administrators, and assigned firmly by these presents.
THE CONDITION OF THE ABOVE OBLIGATIONS ARE such that, WHEREAS, the said ______________________________ (CONTRACTOR) did, on the ____________day of _____________________, _______, enter into a certain contract with the said Owner for the __________________________________________ in accordance with drawings, specifications, conditions and stipulations prepared by which said contract, drawings, specifications, conditions and stipulations are by reference made a part hereof as if fully set out herein, and is hereinafter referred to as the Contract.
NOW, THEREFORE, the condition of the foregoing obligation is such that, if the said Contractor shall save harmless the said Owner from all public liability and damages of every description in connection with the Contract, shall well and faithfully in all things fulfill the Contract according to all the drawings, specifications, conditions and stipulations therein contained in all respects, and shall save and hold harmless the said Owner from and against all liens and claims of every description in connection with the Contract, then this obligation shall be void and of no effect; but otherwise, it shall remain in full force and virtue;
B-1
Jackson Performance Bond (Page 1 of 2)
AND PROVIDED, that any alterations which may be made in the terms of said Contract, or in the work be done under it, or in the event that the said Owner shall grant any extension of time for the performance of said contract or otherwise modify any elements of the Contract, or any forbearance on the part of either party to the other shall not in any way release the Principal and Surety, or either of them, their heirs, executors, administrators, successors or assigns, from any liability hereunder, notice to the Surety of any such alterations, modifications, extension or forbearance being hereby waived.
WITNESS our hands and seals this ___________ day of ___________, _______.
WITNESS:
Principal
By
Title
WITNESS:
Surety
By Attorney-in-fact
ATTACH POWER OF ATTORNEY
B-2 Jackson Performance Bond (Page 2 of 2)
File details come from the government source that posted it. Updated .