HomeMy WebLinkAboutSunshine Building and Development Labor & Materials Payment Bond Form Residential Reclaimed Water Main Extension -1996 07 31SECTION 00620 Bond No. 79-0120-43154-96-0
LABOR AND MATERIALS PAYMENT BOND FORM
Sunshine Building and
THIS INSTRUMENT WITNESSETN: That we 11) Development Corp . a {2} Corporation
organized under the laws of the State of Florida and regularly authorixod to do business
in the State of (3) Florida as Principal, a0d w ta) United States * a {2} Corporation
organized under the laws of the State of Marylar~~d regularly authorized to do Uusiness in the State of
jai Florida as Surety, are held and firmly bound unto 15) City of Winter ~i1~~r~c~'I~
the Owner in accordance with a Contract hereinafter referred to, in the penal sum of 161 One Hundred Twenty-
One ** Dollars (5121~920f.1~4fu1 money of the United States, well and tru-y 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 contract with the Owner dated for work designated as Residential ***
located in Winter Springs,c rmity 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 shall pay ail obligations arising
thereunder, and shat! fully indemnify and save harmless the Owner from ap 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 ail 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 ail 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.
IN ADDITION, the Principal and SuretY~ Jointly and severally, expressly guarantee that the Owner will be
head harmless from any liens, claims, demands or obligations in conJunctlon 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 Band, 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 na 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.
(1) Contractor
{2) So{e Proprietor, Partnership or Corporation
B3} State in which project is located
(4~ Surety
t5) Owner
t6) 100 percent of the Contract
The provisions and llmitatlons of section 255.Q5 or sectlc
713.23, Florida Statutes, whichever f® aAPllcable to the
contract, are Incorporated in this bond by reference.
* Fidelity and Guaranty Company
**. Thousand Nine Hundred Twenty and 50/100----
*** Reclaimed Water Main Extension
oae2o•1
IN WITNESS WHEREOF, this instrument is executed in several counterparts, each one of which shall be deemed
en oriflinai, this tho 31st day of July , i 9_.-9.~i
(SEAL) (~) Sunshine Building and Development Corp.
c„
(SEAL} (Z) f7nited States Fidelity and Guarant Company
. {
~y.
Lewis Donald Rushin
Title:Attorney-in-Fact an~ Licensed Res'dent Agent
(Attorney in Fact)
(1 } CONTRACTOR
' • (2} Surety
• ENp OF SECTIQN
00610.2