HomeMy WebLinkAboutKnology In (Wow) CoWS ROW Performance Bond FE 08.22.2023.pdfPERFORMANCE BOND Bond No. 800143517
FOR CONSTRUCTION IN CITY RIGHT-OF-WAY
KNOW ALL MEN BY THESE PRESENTS:
THAT: ICnology, Inc. as Principal, whose
address is 7887 E Belleview Ave, #9All , Englewood, CO 80111 and
Atlantic Speciality Insurance Company as Surety, whose address
is 605 Highway 169 North, Suite 800, Plymouth, MN 55441 , are bound to the City of Winter Springs, whose
address is 1126 E SR 434, Winter Springs, FL 32708, as Obligee (hereafter "City"), a Florida municipal
corporation, in the full sum of ONE HUNDRED TWENTY FIVE THOUSAND and 00/100 (U.S. Dollars)
($125 000.00 ), for payment of which Principal and Surety jointly and severally bind
themselves, their successors, assigns, and personal representatives.
Sealed with our Seals, this 7th day of March , 20 23 .
WHEREAS, Principal has applied to the City for a permit,
work in the right -of --way
hereafter "Permit," to
[INSERT DESCRIPTION
OF WORK], hereafter "Improvements," within certain City streets, subdivisions, or other areas, within the
City known and identified as: various locations in the City and various permit numbers
[INSERT ADDRESS OF PROJECT AND PERMIT NUMBER] in accordance with the plans and specifications for
said facilities approved by the City; and
WHEREAS, Principal has agreed and is required to furnish a good and sufficient bond conditioned
upon the reconstruction, restoration and repair of all existing and future street paving, shoulders,
sidewalks, curbs, drainage swales and other utility infrastructure damage or subsequently affected by the
construction of said Improvements to the condition prior to the commencement of the Improvements,
NOW, THEREFORE, Principal, Surety and City agree as follows:
A. CONDITIONS OF BOND: The consideration of this obligation is such that said Principal, its successors,
legal representatives or assigns, shall restore, reconstruct and repair all street paving, shoulders,
sidewalks, curbs, drainage swales and other utility infrastructure, etc., as outlined above, overlying or
adjacent to said Improvements; and if all required fees have been paid to City and if all provisions,
specifications, standards and other regulations currently in effect have been complied with, then this
Bond shall remain in full force and effect for two (2) years after the construction of the Improvements
have been approved and accepted by the City. Principal shall contact City for an inspection of the work
site not more than thirty (30) days prior to the two (2) years after acceptance by City. If such inspection
disclosed no pavement settlement or other damage resulting from construction of the Improvements and
facilities overlying or adjacent to said Improvements, then this Bond shall be released; otherwise it shall
remain in full force and effect.
B. DEFAULT: Principal and Surety jointly and severally understand, in the event the Principal fails or refuses
to complete the obligations required by the Permit and this Bond, the City has the right to: (1) demand
that the Surety promptly remedy the default; or (2) demand payment by the Surety of the amount due to
City up to the face amount of the Bond by letter signed by the City Engineer, or a designee, stating that
the Principal has defaulted on his or her obligations as set forth in the Permit and this Bond, which
obligations were a condition of permit approval; or (3) institute an immediate suit against Surety to
recover the full amount of this Bond for the purposes of completing the obligations set forth herein.
Notice to City that this Bond will expire prior to performance of Principal's obligations shall be deemed a
default. Principal and Surety jointly and severally understand that failure to complete the obligations
required by the Permit and this Bond in accordance with any time periods set forth therein, or at the
latest, to commence or recommence completion of the obligations within thirty (30) days after written
notice by the City Engineer, or a designee, to do so, shall be deemed to be a failure or refusal to complete
such obligations. Principal and Surety also understand that in the event the City elects to institute suit
against Surety and the funds recovered thereby prove insufficient to complete the obligations required
by the Permit and this Bond, the Principal shall be liable hereunder to pay the City, any sums required to
complete the obligations hereunder, including, but not limited to, legal and contingent costs and
Atorney's fees, together with any damages, direct or consequential, which the City may sustain because
of Principal's failure to comply with all of the requirements hereof.
C. ALTERATIONS: The Principal and Surety hereby stipulate and agree that no change, extension of time,
aIteration, or addition to the terms and conditions of the Permit, or to the Improvements, shall in any way
affect their obligations under this Performance Bond, and they hereby waive notice of any such change,
extension of time, alteration or addition to the terms of the Permit or Improvements. Any such change,
extension of time, alteration or addition shall be deemed automatically incorporated hereunder by this
reference.
D. GOVERNING LAW: This Performance Bond shall be governed by and construed in accordance with the
laws of the State of Florida. In the event any legal action filed upon this Performance Bond by the City,
Principal or Surety, venue shall lie exclusively in the Circuit Court for Seminole County, Florida.
E. NOTICE: Whenever any of the parties desire to give notice to the other, such notice must be in writing,
sent by registered or certified mail, return receipt requested, addressed to the party for whom it is
intended at the place last specified and the place for giving notice shall remain such until it shall have
been changed by written notices in compliance with the provisions of this paragraph. For the present, the
parties designate the following as respective places for giving notice:
To City:
City Manager
1126 E SR 434
Winter Springs, FL 32708
To Principal:
Knology, Inc.
7887 E Belleview Ave, #900
Englewood, CO 80111
To Surety:
Atlantic Specialty Insurance Company
605 Highway 169 North, Suite 800
Plymouth, MN 55441
F. BOND TO REMAIN IN FULL FORCE AND EFFECT: This Bond shall be kept in full force and effect by the
Principal at all times, including any warranty/maintenance period, as provided herein. In the event of any
material change, cancellation, expiration or non-payment of premiums, Surety shall notify City by certified
mail or registered mail, return receipt requested, at least thirty (30) days prior to the effective date of the
change, cancellation, or expiration of said Bond. Notice to City that this Bond will expire prior to
performance of Principal's obligations shall be deemed a default pursuant to section B above.
IN WITNESS WHEREOF, this Performance Bond is executed by the Principal and Surety this
7th day of March 20 23 ,
Knology, Inc.
B:
Principal (Signat e)
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(Print Name and Title)
Atlantic Specialty Insurance Company
Jeri Russell, Attorney -In -Fact
(Print Name and Title)
Acknowledgement of Acceptance of the Performance Bond:
CITY OF WirOr Springs
By:
Print Name/Title: J'�/IL/p iJy,'QS!-}
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INSURANCE
Power of Attorney
KNOW ALL MEN BY THESE PRESENTS, that ATLANTIC SPECIALTY INSURANCE COMPANY, a New York corporation with its principal office in Plymouth,
Minnesota, does hereby constitute and appoint: Eamon T. Long, Brenda L. Patterson, Jeri Russell, Victoria L. Ernest, each individually if there be more than one
named, its true and lawful Attorney -in -Fact, to make, execute, seal and deliver, for and on its behalf as surety, any and all bonds, recognizances, contracts of indemnity, and all
other writings obligatory in the nature thereof; provided that no bond or undertaking executed under this authority shall exceed in amount the sum of: unlimited and the
execution of such bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof in pursuance of these presents, shall be as binding upon
said Company as if they had been fully signed by an authorized officer of the Company and sealed with the Company seal. This Power of Attorney is made and executed by
authority of the following resolutions adopted by the Board of Directors of ATLANTIC SPECIALTY INSURANCE COMPANY on the twenty-fifth day of September, 2012:
Resolved: That the President, any Senior Vice President or Vice -President (each an "Authorized Officer") may execute for and in behalf of the Company any and
all bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and affix the seal of the Company thereto; and that the
Authorized Officer may appoint and authorize an Attorney -in -Fact to execute on behalf of the Company any and all such instruments and to affix the Company
seal thereto; and that the Authorized Officer may at any time remove any such Attorney -in -Fact and revoke all power and authority given to any such Attorney -in -
Fact.
Resolved: That the Attorney -in -Fact maybe given full power and authority to execute for and in the name and on behalf of the Company any and all bonds,
recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof, and any such instrument executed by any such Attorney -in -Fact shall
be as binding upon the Company as if signed and sealed by an Authorized Officer and, further, the Attomey-in-Fact is hereby authorized to verify any affidavit
required to be attached to bonds, recognizances, contracts of indemnity, and all other writings obligatory in the nature thereof.
This power of attorney is signed and sealed by facsimile under the authority of the following Resolution adopted by the Board of Directors of ATLANTIC SPECIALTY
INSURANCE COMPANY on the twenty-fifth day of September, 2012:
Resolved: That the signature of an Authorized Officer, the signature of the Secretary or the Assistant Secretary, and the Company seal maybe affixed by
facsimile to any power of attorney or to any certificate relating thereto appointing an Attorney -in -Fact for purposes only of executing and sealing any bond,
undertaking, recognizance or other written obligation in the nature thereof, and any such signature and seal where so used, being hereby adopted by the Company
as the original signature of such officer and the original seal of the Company, to be valid and binding upon the Company with the same force and effect as though
manually affixed.
IN WITNESS WHEREOF, ATLANTIC SPECIALTY INSURANCE COMPANY has caused these presents to be signed by an Authorized Officer and the seal of the Company
to be affixed this first day of January, 2023.
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STATE OF MINNESOTA
HENNEPIN COUNTY
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Sarah A. Kolar, Vice President and General Counsel
On this first day of January, 2023, before me personally came Sazah A. Kolaz, Vice President and General Counsel of ATLANTIC SPECIALTY INSURANCE COMPANY, to
me personally known to be the individual and officer described in and who executed the preceding instrument, and she acknowledged the execution of the same, and being by me
duly sworn, that she is the said officer of the Company aforesaid, and that the seal affixed to the preceding instrument is the seal of said Company and that the said seal and the
signature as such officer was duly affixed and subscribed to the said instrument by the authority and at the direction of the Company.
ALISON DWAN NASH•TROUT
NOTARY PUBLIC •MINNESOTA
My Commission Expires
January 31, 2025
Notary Public
I, the undersigned, Secretary of ATLANTIC SPECIALTY INSURANCE COMPANY, a New York Corporation, do hereby certify that the foregoing power of attorney is in full
force and has not been revoked, and the resolutions set forth above are now in force.
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Signed and sealed. Dated 7th day of March 2023
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January 31, 2025
fill Kara L.B. Barrow, Secretary
Please direct band verifications to surety@intactinsurance.com