Performance Bonds guaranteeing the construction of improvements shall be in the form substantially as follows:
____________________________ Ohio (City) PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS WHEREAS, _________________________________, Principal herein is the owner and developer of the )_________________________ Subdivision located in Ashtabula County, Ohio, and WHEREAS, the drawings and specifications of said subdivision showing the location, construction and installation requirements for street pavements, curbs, sidewalks, sewers, water mains and other land improvements therein have been filed with the City Planning Commission and by it approved, which drawings and specifications are hereby incorporated herein by reference as if set forth at length and made a part of this instrument, and WHEREAS, the Principal has obligated himself (or itself) and does hereby agree to complete the construction and installation of all street pavements, curbs, sidewalks, sewers, water mains and all other land improvements in the said Subdivision in accordance with the said drawings and specifications now on file, NOW, THEREFORE, the ____________________________ the Principal and __________________________________________, as Surety, do hereby firmly bind ourselves, our heirs, executors, administrators and successors unto the City of , __________________ Ohio, in the sum of $_____________ conditioned upon the performance by the Principal of his (or its) undertaking herein, and his (or its) completion of the construction of all the street pavements, curbs, sidewalks, sewers, water mains and all other land improvements to be located within said ______________________Subdivision as required by the drawings and specification therefor, the same to be completed on or before the ______________ day of _____________________________, _____, and upon the completion thereof and their approval by the engineer of the City of ____________________, this obligation to be null and void, otherwise to remain in full force and effect: WITNESS our hands this the _____ day of _____. WITNESS: __________________________________ PRINCIPAL _____________________________ __________________________________ SURETY _____________________________ |