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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 severall held and bound unto the. CITY OF EUGENE in Lane Coun in the sum of <br /> ty <br /> Y ~ $ <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 /> CONDIT <br /> THE ION OF THIS BOND IS SUCH that whereas the said ri ' <br /> p ncipal 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 /> applicable plans, Standard Specifications, Special Specifications, and schedule of contract prices, is bythis reference <br /> <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 />