The Texas Maintenance Bond form is a legal document that ensures a contractor, referred to as the Principal, is responsible for repairing any defective work for a specified period after completing a construction project. This bond protects the municipality, in this case, the City of Plano, by guaranteeing that the Principal will uphold their obligations related to public improvements. To initiate this process, complete the form by clicking the button below.
When filling out the Texas Maintenance Bond form, consider the following guidelines:
MAINTENANCE BOND
STATE OF TEXAS
§
KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF COLLIN
That ______________________________ of the City of ________________,
County of _________________ and State of Texas, (called "Principal"), and
_______________________________, a corporation organized and existing
under the laws of the State of Texas to act as surety on bonds for principals, (called "Surety"), are held and firmly bound unto the CITY OF PLANO, TEXAS, a Home Rule Municipal Corporation (called "City"), in the amount of
___________________________________ DOLLARS ($__________________), in
lawful money of the United States, to be paid in Plano, Collin County, Texas for the payment of which, the Principal and Surety bind themselves, and their heirs, administrators, executors, successors and assigns, jointly and severally, firmly by these presents:
WHEREAS, the Principal has entered into a contract (called "Contract") with
__________________________________ (called "Developer") dated the ____ day of
________________, ______, which among other things calls for the construction of
certain public improvements (called "Work"), which inure to the benefit of the City, such public improvements being in connection with development of
___________________________________, an addition or subdivision incorporated
hereby reference and which public improvements are listed on Exhibit "A" attached hereto and incorporated herein by reference; and
WHEREAS, under the terms of the specifications of the Work, the Principal is required to give a bond in the amount specified hereinabove to guarantee the replacement and repair of defective or faulty workmanship furnished or installed by the Principal for a period of one (1) year, from and after the date the Work is completed by Principal and accepted by the City.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the Principal shall for a period of one (1) year, from and after the date the Work is completed by the Principal and accepted by the City, replace and repair any and all defective or faulty workmanship in the Work, then the above obligation shall be void; otherwise, the said obligation shall remain in full force and effect.
Venue for any action to enforce this Bond shall be Collin County, Texas
DD/Forms:Bond-Maintenance (PD-2002)
Page 1
IN WITNESS WHEREOF, the said Principal and Surety have signed and sealed this instrument this ____ day of ________________, ______.
Principal
Surety
By:
______________________
Title:
Address:
_______________________
________________________
The name and address of the Resident Agent of Surety is:
Name:
______________________________________________________
City, State, Zip
____________
For additional information on the above named Surety company you may contact the Texas Department of Insurance at (800)578-4677.
NOTE: Date on Page 1 of Maintenance Bond must be same date as Contract. Date on Page 2 of Maintenance Bond must be after the date of Contract. If Resident Agent is not a corporation, give a person's name.
Page 2
Attorney General Laredo Tx - All child support arrangements are subject to review and modification under specific circumstances.
Vtr 214 - Contacting the local tax office can clarify any questions regarding the form.
Texas P 5 - Form P-5A is required for listing non-employee agents authorized to sign certain forms on behalf of the organization.
The Texas Maintenance Bond form is an important document in the construction process, ensuring that public improvements are completed to the required standards. Along with this form, several other documents are commonly used to support and clarify the obligations of the parties involved. Below is a list of these documents, each with a brief description.
These documents work together to ensure clarity and accountability in the construction process. Having all necessary forms in order can help prevent misunderstandings and protect the interests of everyone involved.
Filling out the Texas Maintenance Bond form can be straightforward, but many people make mistakes that can lead to complications. One common error is failing to ensure that the dates on the form are consistent. The date on Page 1 must match the date of the Contract. If these dates are different, it could create confusion or invalidate the bond.
Another mistake is neglecting to provide complete information about the Principal and Surety. It's essential to fill in the names and addresses accurately. Missing or incorrect details can delay processing or lead to disputes later. Always double-check the spelling and completeness of this information.
Many individuals also overlook the requirement to specify the bond amount. This amount should be clearly stated in both words and numbers. If the bond amount is not filled out correctly, it can lead to misunderstandings about the obligations involved.
In addition, people sometimes forget to include the name of the Developer in the designated area. This information is crucial as it ties the bond to the specific project. Omitting this detail can result in the bond being considered incomplete.
Another frequent error involves the signature section. All necessary parties must sign the form. If the Principal or Surety fails to sign, the bond may not be enforceable. Make sure that all signatures are present and that titles are included where required.
Finally, individuals often miss the note about the Resident Agent. If the Resident Agent is not a corporation, the name of a person must be provided. Failing to do this can lead to issues with the bond's validity. It's important to follow all instructions carefully to ensure the bond is properly executed.
Understanding the Texas Maintenance Bond form is crucial for anyone involved in construction or development projects. However, several misconceptions often arise regarding its purpose and requirements. Here are five common misunderstandings:
Addressing these misconceptions can lead to better compliance and smoother project execution. Understanding the true nature of the Texas Maintenance Bond helps all parties involved navigate their responsibilities more effectively.
When dealing with the Texas Maintenance Bond form, there are several important points to keep in mind. Here are key takeaways that will help you navigate the process effectively:
By keeping these points in mind, you can ensure that the Texas Maintenance Bond form is filled out correctly and serves its intended purpose. Proper attention to detail can prevent issues down the line.
Completing the Texas Maintenance Bond form requires attention to detail. Ensure all sections are filled out accurately to avoid any delays in processing. Follow these steps to fill out the form correctly.