HomeMy WebLinkAboutPrime Construction Group Performance Bond Form -1997 01 01
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PERFORMANCE BOND FORM BOND NO. B2751661
THIS INSTRUMENT WITNESSETH: That we (1) PRIME CONSTRUCTION GROUP ,i~S) CORPORATION
organized under the laws of the State of FLORIDA and regularly authorized to do business in the State of Florida
as Principal, and we (3)RELIANCE INSURANCE COMPANY a (2) CORPORATION organized under
the laws of the State of DELa.~~~ and regularly authorized to do business in the State of Florida as Surety, are
held and firmly bound Unto~_PRTNr.c::: ,hereinafter called the Owner in accordance with a Contract hereinafter
referredto,inthepenalsumof(4) sixty four thousand three Q,ojlarsJ$ 64,100.00 ) lawful
money of the United States, well and truly to be paid unto the said Owner, for~:'t>'avm~t 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 written contract with the Owner dated for
the work designated as LIFT STATION 7W RE Bmated in WINTER SPRINGS in 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 perform the Contract on
his (Its) part, and satisfy all covenants, terms, conditions and agreements incurred by the Principal in the performance
of said Contract, 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 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, including any default based upon failure of the Principal, to fulfill
his obligation to furnish maintenance, repairs, or replacements for any period of time after the work is completed, if
provided for in said Contract, then this obligation shall be null and void, otherwise it shall remain in full force and effect.
IN ADDmON, 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 reqwrements of the
Contract and the Contract Documents with respect to them. This bond shall remain in effect for a period of one year
(UBRARY NOTE: IF A CITY OF SANFORD JOB, THEY REQUIRE TWO YEARS, AND SHOULD SO REVISED) from
the date of final acceptance.
IT IS HEREBY STIPULATED AND 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 Contract or to the Work to be performed thereunder or the Contract Documents
accompanying the same shall in any way affect iIs 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
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(SEAL) (1)
IN WITNESS WHEREOF, this in
original, this the day of
ent is executed in several counterparts, each one of which shall be deemed an
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By:
Roy .
Title: Presid
(SEAL)
~ RaUOCErn~E,~
By: <Z5a- ~J ~
Title: BENJAMIN H. FRENCH
(Attorney in Fact) & FL RESIDENT AGENT
352-694-9223
(1) Contractor
(2) Surety
END OF SECTION
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