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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 />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 iany 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 <br />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 />