Performance_Bond_-_RFP_2026_Asphalt_Milling_and_Overlay_Services_with_Project-Specific_and_IDIQ_Pricing.pdf

PERFORMANCE BOND

THE STATE OF TEXAS § BOND NO. ____________

COUNTY OF ELLIS § BOND EXECUTED IN SIX (6) ORIGINALS

KNOW ALL BY THESE PRESENTS:

THAT ______________________________

of the City of , County of

State of hereinafter referred to as "PRINCIPAL," and

,a corporate surety/sureties organized under the laws of the State of ___Texas______ and authorized to do business in the State of Texas, hereinafter referred to as "SURETY," (whether one or more), are held and firmly bound unto the CITY OF WAXAHACHIE, TEXAS, a municipal corporation located in Ellis County, Texas, hereinafter referred to as "CITY," in the amount of , lawful money of the United States, to be paid in Waxahachie, Ellis County, Texas, for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, assigns, administrators and successors, jointly and severally; and firmly by these presents, the condition of this obligation is such that, WHEREAS, PRINCIPAL entered into a certain written Contract with the City of Waxahachie dated the _______ day of ___________, 20_____, a copy of which is attached hereto and made a part hereof, to furnish all materials, equipment, labor, supervision, and other accessories necessary for the construction of:

(Asphalt Milling and Overlay Services with Project-Specific and IDIQ Pricing) in the City of Waxahachie, Texas, as more particularly described and designated in the above referenced contract such contract being incorporated herein and made a part hereof as fully and to the same extent as if written herein word for word:

NOW THEREFORE,

If PRINCIPAL shall well, truly and faithfully perform and fulfill all of the undertakings, covenants, terms, conditions and agreements of the above referenced Contract in accordance with the plans, specifications and Contract documents during the original term thereof, and any extension thereof which may be granted with or without notice to SURETY, and during the life of any guaranty required under the Contract, and shall also well and truly perform and fulfill all the covenants, terms, conditions and agreements of any and all authorized modifications of such Contract that may hereafter be made, notice of which modifications to SURETY being hereby waived, then this obligation shall be void, otherwise to remain in full force and effect;

and in case PRINCIPAL shall fail to do so, it is agreed that City may do such work and supply such materials and charge the same against PRINCIPAL and SURETY on this obligation, and PRINCIPAL and SURETY hereon shall be subject to the liquidated damages mentioned in the Contract for each day's failure on its part to comply with the terms and provisions of such Contract.

Provided, further, that if any legal action be filed on this Bond, venue shall lie in Ellis County, Texas.

And, that SURETY, for value received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the Contract or to the work performed thereunder, or the plans, specifications, drawings, etc., accompanying same 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 or to the work to be performed thereunder.

The undersigned and designated agent is hereby designated by SURETY as the agent resident in Ellis County to whom any requisite notice may be delivered and on whom service of process may be had in matters arising out of such suretyship.

IN WITNESS WHEREOF, this instrument is executed on this the ________ day of _____________________, 20___.

WITNESS PRINCIPAL

Company

By By Signature Signature

Typed/Printed Name Typed/Printed Name

Title Title

Address Address

City State Zip City State Zip

9/95

WITNESS SURETY

Company

By By Signature Signature

Typed/Printed Name Typed/Printed Name

Title Title

Address Address

City State Zip City State Zip

The Resident Agent of Surety is:

__________________________________ Name

__________________________________ Address

__________________________________ Telephone Number

(Accompany this bond with attorney-in-fact’s authority from the Surety Company certified to include the date of the bond.)