HomeMy WebLinkAboutTravis Williams Construction Labor and Materials Payment Bond Form -1986 06 26
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SECTION 00620
LABOR AND MATERIALS PAYMENT BOND FORM
THIS INSTRUMENT WITNESSETH: That we (l ) Travis W:i.llj.amf:j Constfuct iQn Compalfv...
a (2) Corporation organ1Zea unaer tne aws ot the nv.
State of Florida and regul arly authori zed to do
business in the State of (3) Florida as Principal, and we
In~rnational Fidelity Insurance Co. a (2) Corporation
organi zed under the 1 aws of the State of New J ersef -
regularly authorized to do business in the State of () Florida
as Surety, are held and firmly bound unto (5) the Cit{ of Winter Springs,
Florida hereinafter called the Owner in accordance wi h a Contract
herel nafter referred to, in the penal sum of (6) One hundred ninety eight
thousand & no / 100---------0011 ars ($ 198.000.00 ) 1 awful 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.
and
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.
(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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In addition, the Principal and Surety, jointly and severally, expressly
guarantee that the Owner will be held harml~ss from any liens, claims, demands
or obligations in conjunction with material~ or services provided with respect
to this Contract. This bond shall remain in effect for a period Qf 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.
IN WITNESS WHEREOF, this instrument is executed in several counterparts, each
one of which shall be deemed an original, this the 26th day of
July 19 86.
(SEAL)
Travis Williams Construction
(1 ) Company, Inc.
BYt :f~/')J~~
Ti t 1 e rftP A1~ 11/13./
Attest . i
~##C&/d-)dd;Hd
(SEAL) Secretary
-
-Att1!rt ft/~:J
MlIp I( ~L
International Fidelity
Insurance Company
In Faet
(1) Contractor
(2) Surety
END OF SECTION
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