Performance_Bond.pdf
PDF 23 KB Posted
- Solicitation number
- 2025-COMMUNITY DEVELOPMENT-084
- 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 performance bond is a legal instrument that provides a financial guarantee to the owner (the City of Jackson) that the contractor will complete the specified project according to the contract's drawings, specifications, conditions, and stipulations. The bond protects the owner from potential public liability, damages, and liens that might arise during the course of the project.
The performance bond requires the contractor and surety to be jointly and severally bound to the city, with the bond's validity contingent upon the contractor fulfilling all contract requirements faithfully and without causing harm to the owner. The bond includes provisions that allow for contract modifications, time extensions, or other changes without releasing the principal and surety from their obligations. The document provides spaces for signatures from the principal (contractor), surety, witnesses, and requires attachment of a power of attorney, indicating this is a standard legal form used to provide financial protection in municipal construction or service contracts.
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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 .