The bond referred to in section twenty-two [§38-2-22] of this article shall be sufficient if in form and effect as follows:
Know all men by these presents:
That ……. as principal, and ……….. as sureties (or surety) are held and firmly bound unto …….. in the just and full sum of $………, to the payment whereof well and truly to be made, we bind ourselves, our heirs, administrators and assigns, jointly and severally by these presents.
Sealed with or seals and dated this ……. day of ……………, 20……
The condition of the above obligation is such: That whereas, the said …………..has entered into a certain contract with ………………. for the building and erection by the said ………………. for the said …………………….. of a certain ……………………, to be situated ……………..; and whereas, it is agreed between the above named principal and surety that no change or modification of such contract shall operate to discharge the surety upon this bond; now, therefore, if the said…………………… shall well and truly perform his said contract, and shall pay off, satisfy and discharge all claims of subcontractors, laborers, materialmen and all persons furnishing material or doing work upon said building and shall save the said ……………….and his property harmless from any and all liability, over and above the contract price thereof, between the said owner and the said contractor, for all of such labor and materials, and shall fully pay off and discharge and secure the release of any and all mechanics’ liens which may be placed upon said property by any such subcontractor, laborer or materialman, then this obligation shall be null and void. Otherwise, it shall remain in full effect.
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Acknowledged before the subscriber, notary public, in and for the State of West Virginia and County of ……………, this ……………… day of ……………….., 20…….
My commission expires ………………………………………………………………………….
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Notary Public