HomeMy WebLinkAboutSunshine Building and Development Labor & Materials Payment Bond Form 4th Addition to WM Improvements -1997 02 24
-- SECTION 00620
~ 008
Bond No. 79-0120-01275-97-1
t.At30R AND MATERIALS PAYMENT BOND FORM
Sunshine Building and
THIS INSTRUMENTIM'TNESSETH: That WeRgvelopment Cor~~2} Corporation organized under
the laws of the State of Florida and regularly authorized to do business in the State of (3) Florida
_ as Principal, and we (4)Unite * a (2) Corporatio~ganized under the laws of the State of .Maryland
and regularly authorized to do business in the State of (3)Florida as Surety, are held and firmly hound unto (5)
Cit of *'~ereinafter r~ll~d the Owner in accordance with a Contract hereinafter referred to, in the penal sum
of (8) 'our Hundred Dollars ($4 h? _ n.3 ~y~g~ money of the United States, well and truly to be paid unto
the said Owner, far the payment of which we bind ourselves, our heirs, executors, administrators, successors and
assignees, Jointly and severallyy, firmly by these presents. WHEREAS, the said principal has entered into a written
contradwiththeOwnerdated Fe~~u4 yaY*i99~ forworkdesignated as~rth_Orlando Fourth Additie~ V1j~ er Main
tmorovements looted in Winter Soringg,,,, conformity with Contract pocuments 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 Prinapal shall faithfully satisfy all claims and
demands incurred by the Principal of said Contract, end 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 Prinapal to da so, and shall fully reimburse and repay to the Owner ail costs, damages, and oxpenses 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.
!!V ADDRIDN, the Prinapal and Surety, Jointly and severally, expressly guarantee that the Owner will beheld 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 tuts Bond, and any person furnishing material or perfom~ing 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 benefrt. 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
ban®ficiary hereunder, whose claim may be unsatisfied.
(1) Contractor
(2) Sole Proprietor, Partnership or Corporation ThA provrlstons and Itmttattons of section 255.05 or section
(3) State in which project is located 713.23, Florida Statutes, whlciie~der is applicable to the
(4) Surety contract, are Incorporated in this bond by reference.
(5) Owner
(6) 100 percent of the Contract
* States Fidelity and Guaranty Company
** Winter Springs, FL
*** Sixty-Two Thousand Thirty and 95/100----
00620-1
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1N WRNESS WHEREOF, this instrument is executed in several counterparts, each ane of whioh shall be deemed an
original, his the day of ,19~,,.
(~) (1~ Sunshine Building and Development Corp.
~r _.~ ~ ~~
l / C s ~ ty ~,l
''" (S~) ~ United States F'delity and Guarant ompany
' t~-~" ~
•~ wis one us ing
T-~e; and Licensed Resident Agent
(Attorney in Fad)
(1) Contractor
. (~) Surety
,_ , END OF SECTION
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