Performance_&_Payment_Bonds.pdf

COUNTY OF TUOLUMNE, DEPARTMENT OF PUBLIC WORKS

PERFORMANCE BOND

(To Accompany Contract)

Bond No.

WHEREAS, the County of Tuolumne, acting by and through the Department of Public Works, (“County”) has awarded to Contractor

_____________________________________________, (“Contractor”), a contract for the work described as follows:

[PROJECT NAME],

Contract No. [XXXX]

AND WHEREAS, the Contractor is required to furnish a bond in connection with said contract, guaranteeing the faithful performance thereof:

NOW, THEREFORE, we the undersigned Contractor and _______________________________________, a corporation duly authorized to do a general surety business in the State of California, (“Surety”) are held firmly bound to the County of Tuolumne in the sum of

______________________________________________ dollars ($__________________), to be paid to the County or its certain attorney, its successors and assigns: for which payment, well and truly to be made, we bind ourselves, our heirs, executors and administrators, successors or assigns, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH,

That if the above bound Contractor, its heirs, executors, administrators, successors or assigns, shall in all things stand to and abide by, and well and truly keep and perform the covenants, conditions and agreements in the foregoing Contract and any alteration thereof made as therein provided, on his or their part to be kept and performed at the time and in the manner therein specified, and in all respects according to their intent and meaning, and shall indemnify and hold harmless the County of Tuolumne, its elected and appointed officials, officers, employees, agents, and volunteers as therein stipulated, then this obligation shall become and be null and void; otherwise it shall be and remain in full force and virtue. Whenever

Contractor shall be, and is declared by the County to be, in default under the Contract, and the County, having performed the County’s obligations thereunder, the Surety may promptly remedy the default, or shall promptly:

(1) Complete the Contract in accordance with its terms and conditions; or

(2) Obtain a bid or bids for submission to the County for completing the Contract in accordance with its terms and conditions, and upon determination by the County and Surety of the lowest responsible bidder, arrange for a contract between such bidder and the County, and make available as work progresses (even though there should be a default or succession of defaults under the contract or contracts of completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the contract price. The term

“balance of the contract price” as used in this paragraph shall mean the total amount payable to Contractor by the County under the

Contract and any modifications thereto, less the amount previously properly paid by the County to the Contractor.

(3) Surety expressly agrees that the County may reject any contractor or subcontractor which may be proposed by Surety in fulfillment of its obligations in the event of default by the Contractor.

(4) Surety shall not utilize Contractor in completing the Contract nor shall Surety accept a bid from Contractor for completion of the work if the County, when declaring the Contractor in default, notifies Surety of the County’s objection to the Contractor's further participation in the completion of the work.

The 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 to be performed thereunder or the Specifications accompanying the same shall in any way affect its obligations 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 or to the Specifications.

In case suit is brought upon this bond, the Surety will pay a reasonable attorney’s fee to be fixed by the court. No right of action shall accrue on this

Bond for the use of any person or entity other than the County or its heirs, executors, administrators or successors.

IN WITNESS WHEREOF, We have hereunto set our hands and seals on this ___ day of _________, 20___.

Correspondence or claims relating to this bond should be sent to the Surety at the following address:

Contractor

Name of Surety (SEAL)

By: Attorney-in-Fact

NOTE: Signatures of those executing for the Surety shall be properly acknowledged.

CERTIFICATE OF ACKNOWLEDGEMENT

State of California

County of

On before me, , (here insert the name and title of the officer) personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature

(Seal)

A Notary Public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.

COUNTY OF TUOLUMNE

DEPARTMENT OF PUBLIC WORKS

PAYMENT BOND

(Section 9550, Civil Code)

Bond No.

WHEREAS, The County Tuolumne , acting by and through the Department of Public Works, (“Obligee”), has awarded to Contractor

_______________________________________, (“Principal”), a contract for the work described as follows:

[PROJECT NAME],

Contract No. [XXXX]

AND WHEREAS, Principal is required to furnish a bond in connection with this Contract, to secure the payment of claims of laborers, mechanics, materialmen and other persons as provided by law.

NOW, THEREFORE, we, the undersigned Principal _______________________________________, a corporation duly authorized to do a general surety business in the State of California, (“Surety”) are held firmly bound to the Obligee in the sum of

______________________________________________ dollars ($__________________), to be paid to Obligee or its certain attorney, its successors and assigns: for which payment, well and truly to be made, we bind ourselves, our heirs, executors and administrators, successors or assigns, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION IS SUCH,

That if Principal or its subcontractors shall fail to pay (1) any of the persons named in Civil Code section 9100, (2) amounts due under the

Unemployment Insurance Code with respect to work or labor performed by such claimant, or (3) any amounts required to be deducted, withheld, and paid over to the Employment Development Department from the wages of employees of the Principal and his subcontractors pursuant to

Unemployment Insurance Code section 13020 et seq., with respect to such work and labor, that the Surety herein will pay for the same. In the event suit is brought upon this Bond by the Obligee and judgment is recovered, the Surety shall pay all costs incurred by the Obligee in such suit, including a reasonable attorney’s fee to be fixed by the Court. The Surety hereby waives the provisions of Sections 2819 and 2845 of the Civil Code.

This bond shall inure to the benefit of any of the persons named in Civil Code section 9100 as to give a right of action to such persons or their assigns in any suit brought upon this bond.

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 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.

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

IN WITNESS WHEREOF, We have hereunto set our hands and seals on this ___ day of _________, 20___.

Correspondence or claims relating to this bond should be sent to the Surety at the following address:

Contractor

Name of Surety (SEAL)

By: Attorney-in-Fact

NOTE: Signatures of those executing for the Surety shall be properly acknowledged.

CERTIFICATE OF ACKNOWLEDGEMENT

State of California

County of

On before me, , (here insert the name and title of the officer) personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

Signature

(Seal)

A Notary Public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document.