HomeMy WebLinkAboutPrime Construction Group Labor and Materials Payment Bond Form Emergency Power Improvements -1996 01 04.. +~
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BOND#3-336-138
LABOR AND MATERIALS PAYMENT BOND FORM
PRIME CONSTRUCTION
THIS INSTRUMENT WITNESSETH: That we (1) GROUP, INC. a (2) CORPORATION
organized under the laws of the State of FLORIDA and regularly authorized to do bb siness
in the State of (3) _II~ORIDA as Principal, and we (4)THE OHIO CASUALTY INS CE COMPI~NY
_ organized under the laws of the State of ~~ ~~o~m~N
OHIO and regularly authorized to do business in the State of
l31 as Surety, are held and firmly bound unto (5) C~TO~ WI'F~RTT* hereinafter called
the Owner in accordance with a Contract hereinafter referred to, in t e penal s'um of116) $933, 500.00
Dollars 15 )lawful money of the United States, well and truly to be paid unto the said
Owner, for the payment of which we bind ourselves, our heirs, executors, administrators, successors and
assignees, jointly and severally, firmly by these presents. WHEREAS, the said principal has entered into a
v~+n contract with the Owner dated for work designated asBID#96-001 EMERGENCY
~,~~ocated in WINTER SPRGS, FL conformity 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 otherwise, 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.
11) Contractor
(2) Sole Proprietor, Partnership or Corporation
(3) State in which project is located
(4) Surety
(51 Owner
(6) 100 percent of the Contract
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' 81~02~96 12=49 E 407 056 8182 PRIME GUNS GROUP P.04
' IN WITNE WHERE F hi instrument x cuted in n r r h n which shall be deemed
SS O, t s e e several cou to pa ts, eac o e
an orfQinaf, this the 4 day of January , t g 9 6
{r"'gGl {t) pg~CONSTRj1CTI0N GROUP INC.
. J~
By:
Thomas M. Perley
Title: Project Manager/Vice- esident
(SE~tt.) (2) THE OHIO CASUALTY INSURANCE COMPANY
BY~
BEN MI H. FR , ATTO EY-IN-FACT
Title: FT.nR?DA RESIDENT AGENT
{Attorney in Fact)
{11 Contractor
(2) Sursty
END OF SECTION
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