HomeMy WebLinkAboutLinco Construction Labor and Materials Bond Form -1995 08 22
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SECTION 00620
LABOR AND MATERIALS PAYMENT 8PND FORM
,THIS INSTRUMENT WITNESSETH: That we (1 )Li~CO Ca1stroctirn, loc. a (2) Corporation
. oroanlzod under tho laws ~f tho State of Florida . and regUlarl~orlzed to do b~$lnQS$
In the State of (:II FlorIda. as Prinj;ipal and we (4~H91 ~an~ Insuraoce a (2) Corpora 10n
. organized undor the laws of the State of New 'york and reaUI~rl'i..aut~rUi~o ~.bUSj~Ss in the State of
(31 Florida as Surety, are held and firmly bound unto (51-1ty ~ ..... lI'~s, hereinafter called
the Owner In accordance with a Contract h~relnafter referred to, in the penal sum of (6) j 3 3 7 .265 . 50
Dollars ($ 337,265.~ 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
asslunees, Jointlv and severally, firmly b.Y these ~res..en1s. WHEREAS" the said principal has en.tared into a
written contract wIth the Owner dated 1b August 1995 for work designated asReclalmed Water
Main Extension located In Winter Springs ,Ft: 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 oblioation is such that jf the Principal shall faithfully satisfy all
claims end demands Incurrad 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 '{Vliieh 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, eqlJipment or
materials for use in the prosecution of the work, whether by subcontractor or otherwise, and including ell
insurance premiums on said work as provided for in such Contract, then this oblioation shall be null and
void, otherwise it shall remain in full force and effect.
IN ADDITION, tt16 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 frol11 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 asa Subcontractor, shall have the right to sue on this Bond In
th6 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 tho Work
to be performed thereunder or the Contract Documents accompanying the same shall in any way affect its
oblloations 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 abrldQ6 the
right of any beneficiary hereunder, whose claim may be unsatisfied.
(1) Contractor
(2) SoJe Proprietor, Partnership or Corporation
(3) State In which project is located
(4) Surety
(5) Owner
(6) 100 percent of the Contract
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',: HEREOF, this Instrument is executed in several counterparts, each one of which shall be deomed
-,rthltihe"22nd day of August , 19.2.~
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Linco Construction, Inc~
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Vigilant lnsuranc, c~
By: c~?1 ~_
Michael Townsend Leavell
Title: Attorney-in-Fact
(Attorney In Fact)
END OF SECTION
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