HomeMy WebLinkAboutTravis Williams Construction Performance Bond Form -1986 07 16
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SECTION 00610
PERFORMANCE BOND FORM
Travis Williams Construction
THIS INSTRUMENT WITNESSETH: That we (l) Company, Inc. a
(2) Corporation organi zed under the laws of the
State .of Flofir\a and regularly authorized to do busi ness
in the State 0 orida as Principal, and we (3) International Fidelity Insurance
Company a (2) Corporation
organized under the laws of the State of New Jerse, and
regularly authorized to do business in the State of F orida as Surety, are held
and firmly bound unto the City of Winter Springs, Florida, hereinafter called
the Owner in accordance with a Contract hereinafter referred to, in the penal
sum of (4)One hundred ninety eight thousand Dollars ($ 198.000.Q~ )
lawful money of the United States, well and truly to be paid unto the sal
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 contract with the Owner
dated 7-26-86 . for the work designated as
Cit of Winter S rin s, Florida - Contract II - Water Plant 1m rovements,
ocated in Winter Sprlngs, Florida, in conformlty 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.
( 1) Contractor
(2) Sole Proprietor, Partnership, or Corporation
(3) Surety
(4) 100 percent of the Contract
00610-1
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In addition, the Principal and Sur " jointly and severally, expressly
guarantee that all materials furn1 and workmanshif performed under the
Contract and in the construction of lhe work shall fu fill all requirements of
the Contract and the Contract Documents with respect to them. This bond shall
remain in effect for a period of one year 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 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~
(SEAL)
(SEAL)
Att..:5t1Y~aJ
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Secretary
Travis Williams Construction
(l ) Companv, Inc.
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Int rnational Fidelity
(2) In rance C a
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Attest
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LEy
A rney in Fact
Benjamin P. Sibley, Attprney In
Fact and Fl Resident Agent
(1) Contractor
( 2 ) Su re ty -
END OF SECTION
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