HomeMy WebLinkAboutPrice Construction Performance Bond Form -2004 01 01~•
Bond #; CC-38423
SECTION 00610
PERFORMANCE BOND FORM
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THIS INSTRUMENT WITNESSETH: That we (1) Price Construction Inc. a
(2)Corporation organized under the laws of the State of on a and regularly
authorized to do business in the State of Florida as Principal, and we (3) Cumbertana casuatty ~ surety company a (2}
Corporation and re ular authorized to do business in the State of Florida as Surety,
are held and firmly bound unto ity of Winer ~pnngs ,hereinafter called the Owner in accordance
v~ith a Contract hereinafter referred to, in the penal sum of (4) sixty-two thousand three hundred sixty-five and 6onoo
Dollars ($62 365.60 ) lawful money of the United States, well and truly to be paid unto the said Owner,
for the paymen o is we rnd ourselves, our heirs, executors, administrators, successors and assignees,
jointly and severally, firmly by these presents;
WHEREAS, the said Principal has entered into a written contrail with the Owner dated for the
work designated asMoss Park Buffer Brick Walt; Project #ITB 003104/CP located in Moss Park, Seminole county
in conformity with Contract Documents hereby referred to and made a part hereof, t e s- a to alf intents and
purposes as if written at length herein, in which Contract the said Principal has contracted to pertorm the work
specified in said Contrail in accordance with the terms thereof;
NOW, THEREFORE, the condition of this obligation is such that if the Principal shall faithfully pertorm the
Contrail on his (its) part, and satisfy all covenants, terms, conditions and agreements incurred by the Principal in
the performance of said Contrail, during the original term thereof, and any extensions thereof which may be
granted by the Owner, with or without notice to the Surety, and shall satisfy all claims and demands arising
thereunder, and shall fully indemnify and save harmless the Owner from all cost and damage which the Owner
might suffer by reason of the failure of the Principal to do so, and shall #ully reimburse and repay to the Owner all
costs, damages, and expenses which the Owner may incur in making good any default by the Principal, including
any default based upon failure of the Principal, to fulfill his obligation to fumish maintenance, repairs, or
replacements for any period of time after the work is completed, if provided for in said Contrail, then this
obligation shall be null and void, otherwise it shall remain in full force and effect.
IN ADDITION, the Principal and Surety, jointly and severally, expressly guarantee that all materials furnished and
workmanship performed under the Contract and in the construction of the work shall fulfill all requirements of the
Contrail and the Contrail Documents with respect to them. This bond shall remain in effect for a period of one
year from the date of final acceptance.
IT IS HEREBY STIPULATED ANO AGREED that any suit based upon any default of the Principal in fulfilling his
obligations to furnish maintenance, repairs, or replacements for any period of time after the Work is completed, if
provided for in the Contract, may be brought at any time up to six months after the expiration of the time specified
in the Contract during which the Contractor has agreed to furnish such maintenance or make such repairs or
replacements.
THE SAID SURETY, for value received, hereby stipulates and agrees that no change, extension of time,
alteration or addition to the terms of the Contrail or to the Work to be pertormed thereunder or the Contrail
Documents accompanying the same shall in any way affect its obligations on this Bond, and it does hereby waive
notice of any such change, extension of time, alteration or addition to the terms of the Contract or to the Work or
to the Contract Documents.
PROVIDED, FURTHER, that no final settlement between the Owner and the Contractor shall abridge the right of
any beneficiary hereunder, whose claim may be unsatisfied.
(1) Contractor
(2} Sole Proprietor, Partnership, or Corporation
(3) Surety
(4) 110 percent of the Contract
IN WITNESS WHEREOF, this instrument is executed in several counterparts, each one of which shall be deemed
an original, this the day of ,2004
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(SEAt.) (1) Price Construction, Inc.
Title:
(SEAL} (2) Cumberland Casualty & Surety Company
By:
Title: Benlatnin H. French, Attorney-In-Fact ~ Fla. Resident Agent
(Attorney in Fact)
(1) Contractor
(2) Surety
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"This bond incorporates all the requirements of Section 255.05 Florida Statutes,
by reference as to all Notice and Time Limitations provided therein. The Bond
shall be considered a Statutory Bond and not aCommon-Law Bond."
END OF SECTION
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