HomeMy WebLinkAboutPrime Construction Group Labor and Materials Payment Bond Form -1997 01 01
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O)c~"UN UUb~U BOND NO. B2751661
LASOR AND MATERIALS PAYMENT SOND FORM
THIS INSTRUMENT WITNESSETH: That we (1 )PRIME CONSTRUCTIOr (?-OUC<,rJ~TION organized under
I the laws of the State of FLORIDA and regularly authorized to do business in the State of (3) FLORIDA
. as Principal, and we (4)I.!ELIANCE INS. CO. a (2) CORPORATION organized under the laws of the State of DELAWARE
TIHM:!~larly authorized to do business in the State of (3) FLORIDA as Surety, are held and firmly bound unto (5)
Ii WINTiR af~~80 hereinafter called the Owner in accordance with a Contract hereinafter referred to, in the penal sum
of (6) _ _ _.00) Dollars ($ ) lawful money of the United States, well and truly to be paid unto
the said Owner, for the payment of which we bind ourselves, out heirs, executors, administrators, successors and
assignees, jointly and severally, firmly by these presents. WHEREAS, the said principal has entered into a written
contract with the Owner dated for work designated asLIFT STATION 7W RE-B.acated in _
WINTER SPRI~nformity with Contract Documents hereby referred to and made a part hereof, the same to all intents
and purposes as if written at length herein, in which Contract the said Principal has contracted to perform the work
specified in said Contract in accordance with the terms thereof;
NOW, THEREFORE, the condition of this obligation is such that if the Principal shall faithfully satisfy all claims and
demands incurred by the Principal of said Contract, and shall pay all obligations 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 fully reimburse and repay to the Owner all costs, damages, and expenses which the
Owner may incur in making good any default by the Principal, and shall promptly make payment of prevailing wages
to all persons supplying labor, equipment or materials for use in the prosecution. of the work, whether by subcontractor
or oth8fWise, and including all insurance premiums on said work as provided for in such Contract, 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 the Owner will be held harmless
from any liens, claims, demands or obligations in conjunction with materials or services provided with respect to this
Contract. This bond shall remain in effect for a period of one year from the date of final acceptance. The Owner may
sue on this Bond, and any person furnishing material or performing labor, either as an individual or as a Subcontractor,
shall have the right to sue on this Bond in the name of the Owner for his use and benefit. The said Surety, for value
received, hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the
Contract or to the Work to be performed thereunder or the Contract 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) State in which project is located
I (4) Surety
! (5) Owner
(6) 100 percent of the Contract
Olle20-1
IN WITNESS WHEREOF. this instru e t is executed in several counterparts, each one of which shall be deemed an
original, this the day of .19_.
(SEAL) (1)
(SEAL)
(1) Contractor
(2) Surety
, INC.
By:
Jr.
(2) RELIANCE ~~~
By.6-f~
Title: BENJAMIN H. FRENCH
(Attorney in Fact) & FL RESIDENT AGENT
352-694-9223
END OF SECTION
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