Form Ogc-S-2011-08 - Performance Bond printable pdf download

Performance Bond No.____________________

PERFORMANCE BOND

THE STATE OF ____________________________________

COUNTY OF _______________________________________

KNOW ALL MEN BY THESE PRESENTS; That we,

____________________________________________________________ a

________________________________________________ with a primary office address of

______________________________________________________ in _____________ County,

______________ [state] (“Principal”) and

_________________________________________________________ a _______________________ State

of ___________________ (“Surety”), are held and firmly bound unto THE UNIVERSITY OF HOUSTON

SYSTEM (“Owner”), in the penal sum of

__________________________________________________________ $___________________________

Dollars in lawful money of the United States, to be paid in Harris County, Texas for the payment of which

sum well and truly be made, we bind ourselves, our heirs, executors, administrators and successors, jointly

and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION is such that Whereas, the Principal entered into a certain

contract with THE UNIVERSITY OF HOUSTON SYSTEM, as the Owner, dated the _______ day of

____________________________, A.D. 20 __ (the “Contract”), a copy of which is hereto attached and

made a part hereof for the following project:

______________________________________________________________________________________

as further described in the Contract (the “Project”).

NOW, THEREFORE, if the Principal shall well, truly and faithfully perform the services required for the

Project in accordance with the Contract Documents and Construction Documents (both, as defined in the

Contract) during the original term thereof, and any extensions thereof which may be granted by the Owner,

with or without notice to the Surety, and if he shall satisfy all claims and demands incurred with respect to

such services under such Contract, and shall fully indemnify and save harmless the Owner from all costs and

damages which it may suffer by reason of failure to do so, and shall reimburse and repay the Owner all outlay

and expense which the Owner may incur in making good any default, then this obligation shall be void;

otherwise to remain in full force and effect.

PROVIDE FURTHER, that if any legal action be filed upon this bond, venue shall lie in Harris County, State

of Texas, and that the said surety, for value received hereby stipulates and agrees that no change, extension of

Office of the General Counsel

Performance Bond Form

OGC-S-2011-08

Page 1

Form Ogc-S-2011-08 - Performance Bond