HomeMy WebLinkAboutLinco Construction Performance Bond Form -1995 08 22
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SECTION 00610
'COpy
PERFORMANCE BOND fORM
THIS INSTRUMENT WITNESSETH: That we (1) Linco Construction, Inc. a (2) Corporation
, organized under the laws of the State of Florida and regularly authorized to do
business in the Stat.e of Florida as Principal, and we (3) Vigila!lt Insurance Company
a (2) CorporatIon organized under the laws of the State of New Yorl<
pod regularly .authorlzed t~ do business in the State of Florida as SuretY, are held and .ii~mly bo~nd unto kili
of WInter SprIngs ,F,LherEllnafter called the OWNER fn accordance with 8 Contract hereinafter referred to, in
the penal sum of (4) $337,265.50 . , Dollars ($ 337,265.50
...J lawful money of the United States, wall and truly to be paid unto the said OWNER, for the paymont 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 wrinen co~tract witfl the OWNER ~ated 16 ~ugust 1995
. . . for the work designated as Reclail1B:l Water fttim ExtensHJlocated in WInter SprIngs, FL
In conformity with Contract Documents hereby referred to and made a part hereof, the sarna to all Intents and
purposos 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, SQd 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 failura 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
Principai, Including any default based upon failure of the Principal, to fulfill his obligation to furnish
maintenance, repairs, or re~lacemer'1t$ 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 ADDITION, the Principal and Surety, jointly and severally, expressly guarantee that all materials furnlshEld
and workmanship performed under the Contract and in the construction of the work shall fulfill all requiromcnts
of the Contract and the Contract Documents with respect to them. This bond shall remain In effect for a period
of one year,
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 complEftad,
If provIded for in the Contract, niay be brought at any time up to six months after the expiration of tha time
specified in thfl Contract during which the CONTRACTOR has agre"sd 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 tho same shall in any way affect its oblioations on this Bond, and it does horeby
waive notice of any such chanoe, extension of time, alteration or additIon to the terms of the Contract or to
the Work or to tha Contract Documents.
PROVIDED, FURTHER, that no final settlement between the OWNER and the CONTRACTOR shall abridgo the
right of any beneficiary hereunder, whose claim may be unsatisfiGd.
(1) CONTRACTOR-~
12) Sola Proprietor, Parlnership, or Corpo((ltion
(3) Surety
14) 110 parcont of the Contr<lct
IN WITNESS WHEREOF, this instrumont is ()xocutec! in !;oyoral countorpnrts, oach one of which shall bo dC<lmed
00(:; 1 0-1
..
an original, this the
(SEAL) ( 1 )
(SEAL) (2~
(1) CONTRACrOR
(2) SuretY
22nd
August
day of
Linco Construction, Inc.
.
BY:~
Titl.~ n.F. StiIh~ Jr.
By:
END OF SeCTION
00610-2
95
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