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PAYMENT BOND <br /> SAMPLE <br /> KNOW ALL MEN BY THESE PRESENTS, that we <br /> as principal, and as surety, are jointly <br /> and severally held and bound unto the CITY OF EUGENE, in Lane County in the sum of: $ <br /> ( ) for the payment of which <br /> we jointly and severally bind ourselves,. our heirs, executors, administrators and assigns or successors and assigns, <br /> firmly by these presents. <br /> THE CONDITION OF THIS BOND IS SUCH. that, whereas the said principal herein has made and entered into a <br /> certain contract, a copy of which is attached hereto, with the CITY OF EUGENE which contract, together with the <br /> <br /> • applicable plans, Standard Specifications, Special Specifications, and schedule of contract prices, is by this reference <br /> made a part hereof, whereby the said principal agrees to do in accordance with the certain terms, conditions, <br /> requirements, plans and specifications which set out in said contract and all authorized modifications of the contract <br /> which increase the amount of the work and the amount of contract. Notice to the surety of any of the immediately <br /> .foregoing are waived. <br /> NOW, THEREFORE, if the principal herein shall make payment promptly, as due to all subcontractors and to all <br /> persons supplying to the Contractor or his subcontractors, equipment, supplies, labor or materials for the prosecution <br /> of the work, or any part thereof, provided for in said contract, and shall pay all contribution. of amounts due its <br /> workers compensation carrier and the State Unemployment Compensation Trust Fund from such Contractor or <br /> Subcontractors incurred in the performance of said contract, and'pay all sums of money withheld from Contractor's <br /> employees and payable to the Revenue Department; and shall pay all- other just debts, dues and demands incurred in <br /> the performance of the. said contract and shall pay the CITY OF EUGENE such damages as may accrue to the City <br /> under said contract, then this obligation is to be void, otherwise to remain in full force and effect. <br /> Nonpayment of the bond premium will not invalidate this bond nor shall the CITY OF EUGENE be obligated for the <br /> payment thereof. <br /> WITNESS our hands this day of , 20 <br /> .Principal Principal <br /> By By <br /> Authorized Official. Signature Authorized Official Signature <br /> By By <br /> Authorized Official Signature Authorized Official Signature <br /> Surety By <br /> Attorney-in-Fact <br /> By . <br /> Agent , <br /> (A Power of Attorney for <br /> the Attorney-in-Fact must <br /> be attached to this Bond) <br /> Surety's Seal must be Affixed <br /> <br />