“Know all men by these presents that we _____________________________ (name of individual, corporation, etc.) as principal, and the ___________________________ (name of bonding company), a corporation, authorized to do business in the State of _________, as in the penal sum of ______ Dollars, lawful money of the United States for the payment of which we and each of us bind ourselves, our heirs, executors, administrators, successors and assigns jointly, by these presents:
The condition of this obligation is such that whereas, the said _________, (name of individual, corporation or principal) has agreed to construct and/or install at its expense the following improvements:
Street base and paving
Concrete curb and gutters
Water mains, appurtenances and house services
Storm sewers, appurtenances and house services
Sanitary sewers, appurtenances and house services
Concrete sidewalks
Street lights
Site improvements
all in accordance with the specifications and codes of the City, and contained in plans and specifications prepared by ____________ (named engineer), and approved by the City Council at the following location:
___________________________________________ _________
(Description of Property)
And has agreed to maintain such improvements constructed under this bond for a period of one year from the date of acceptance of the same by the City.
Now, therefore, if the said principal shall well and truly perform in all respects in strict accordance with the requirements, and shall save the City harmless from all loss, cost or damage, by reason of their failure to complete said work, or maintain said improvements, relating to the above-described work, then this obligation to be void, otherwise, to remain in full force and effect.”
(1975 Code, § 34.39)