Common use of Labor and Materials Bond Clause in Contracts

Labor and Materials Bond. Upon execution of this Agreement, Permittee shall file and submit security to City, as obligee, in the penal sum of two hundred thousand dollars ($200,000.00), inuring to the benefit of any contract, his subcontractors, and to persons renting inuring to the benefit of any contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the cost of labor and materials furnished in connection with any and all improvement work required hereunder.

Labor and Materials Bond. Upon execution of this Agreement, Permittee shall file and submit security to City, as obligee, in the penal sum of two one hundred twenty five thousand dollars ($200,000.00125,000.00), inuring to the benefit of any contract, his subcontractors, and to persons renting inuring to the benefit of any contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the cost of labor and materials furnished in connection with any and all improvement work required hereunder.

Labor and Materials Bond. Upon execution of this Agreement, Permittee shall file and submit security to City, as obligee, in the penal sum of two hundred thousand dollars ($200,000.00)$ , inuring to the benefit of any contract, his subcontractors, and to persons renting inuring to the benefit of any contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the cost of labor and materials furnished in connection with any and all improvement work required hereunder.

Labor and Materials Bond. Upon execution of this Agreement, Permittee shall file and submit security to City, as obligee, in the penal sum of two hundred Seventy five thousand dollars ($200,000.0075,000), inuring to the benefit of any contract, his subcontractors, and to persons renting inuring to the benefit of any contractor, his subcontractors, and to persons renting equipment or furnishing labor or materials to them for the cost of labor and materials furnished in connection with any and all improvement work required hereunder.