HomeMy WebLinkAboutRanger Construction Industries, Inc. Performance Bond -2005 04 18
SECTION 00610
PERFORMANCE BOND FORM
THIS INSTRUMENT WITNESSETH: That we (1) Ranger Construction Industries, Inc. a (2)Corporation
organized under the laws of the State of Florida and regularly authorized to do business in the State of
Florida as Principal, and we (3) United States Fidelity and Guaranty Company a (2) Corporation
organized under the laws of the State of Maryland and regularly authorized to do business in the State
of Florida as Surety, are held and firmly bound unto City of Winter Springs , hereinafter called the Owner in
accordance with a Contract hereinafter referred to, in the penal sum of (4)
Dollars ($201,228.00 ) 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 Princioal ha.s entered into a written contract with the Owner dated
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for the work deslgnat as Various !:;treels Biil #ITB-005-05/AH ocate In In er pnngs, 10 con,ormlty Wit
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.
IN ADDITION, the Principal and Surety, jointly and severally, expressly guarantee that all materials furnished and
workmanship performed under the Contract and in the construction of the work shall fulfill 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. .
(1) Contractor
(2) Sole Proprietor, Partnership. or Corporation
(3) Surety
(4) 110 percent of the Contract Amount
IN WITNESS WHEREOF. this instrument IS executed in several counterparts, each one of which shall be deemed
an original, this the 21 st day of April , 20~.
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Contractor; Ranger Construction Industries, Inc., 1200 Elboc Way, Winter Garden, FL 34787407/656-9255
Owner: City of Winter Springs, 110 N. Flamingo Ave., Winter Springs, FL 32708 407/327-2669
Surety: United States Fidelity and Guaranty Company, 5801 Smith Ave., Baltimore, MD 21203 800/242-8734
Ranger Construction Industries, Inc.
(SEAL) (1)
BY:~~
Title: v:/
(1) Contractor
(2) Surety
ompany
nd Florida Resident Agent
END OF SECTION
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