HomeMy WebLinkAboutWater Equipment Services, Inc. Labor and Materials Payment Bond Form
SECTION 00620
LABOR AND MATERIALS PAYMENT BOND FORM
Inc.
'__ THIS INSTRUMENT WITNESSETH: That we (1VaterEquipmentService~ (2) Corporation
organized under the laws of the State of Florida and regularly authorlled to do business in
the State of (3) Florida as Principal, and we (4J;!lmberlandCa.!'lual t"y}i.~l1tlsitComp~my J'I r.n"poration
Q.I'~ani~ed under the laws of the State of Florida and regularly authorized to do business In the State of (3)
FIor~da as Surety, ore held and firmly bound unto (Sj:itvofWinterSpringl'l hereinafter called the
OWNER in accordance with a Contract hereinafter referred to, in the penal sum of (6fortvThousand
Dollars ($40,000. O~ 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
written contrWit, with the OWNER dated ~l!B I (9'99 .for work designated asAeratorReplacement
WaterTreatment"'lb~ifed iriV1.nterSpring!'l~ity 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 shell pay ell obligations arising thereunder, and
shall fully indemnify and save harmless the OWNER from all cost end 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.
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IN ADDITION, the Principal and SuretY, Jointly 2lnd 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. Tne said Surety. for value rec~ved, hereby stipulates and agrees that 1'10 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 effect 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
(4) Surety
(5) Owner
(6) 100 percent of the Contract
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00620.1
IN WITNESS WHEREOF, this Instrument is executed in several counterparts, each one of which shall be deemed
an original, this the day of , 19_,
(SEAL)
(1 )
;:sr;c .
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(SEAL)
(2) Cumberland Casualty and Surety Company
By: ~~
Edward J. Valek II
Title: Licensed Florida Agent
(Attorney in Fact)
(' I Contractor
(2) Surety
END OF SECTION
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