HomeMy WebLinkAboutPrime Construction Group Labor and Materials Payment Bond Form -2003 07 23
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Bond # 103409725
SECTION 00610
LABOR AND MATERIALS PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS: that
Prime Construction Group, Inc.
(Name of CONTRACTOR)
P.O. Box 590507, Orlando, FL 32859-0507
(Address of CONTRACTOR)
a Corporation
hereinafter after called
(Corporation, Partnership or Individual)
Principal, and Travelers Casualty & Surety Company of America
(Name of Surety)
P.O. Box 4992, Orlando, FL 32802
(Address of Surety)
hereinafter called Surety, are hold and firmly bound unto the City of Winter Sorinas. hereinafter
called OWNER, in the full and just Sum of One hundred fifty-two thousand six hundred five and 20/100 DOLLARS, ($
152,605.20 ) in lawful money of the United States, for the payment of which sum well and truly to
be made, we bind ourselves, successors, and assigns, jointly and severally, firmly by these
presents, The sum shall not be less than one hundred ten percent (110%) of the Contract Price,
THE CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain
Agreement with the OWNER, dated the day of ,_, and made a part
hereof the construction of the Sanitary Sewer Force Main along Old Sanford Road
The Surety shall be bound by any and all alternative dispute resolution awards and settlements to
the same extent as CONTRACTOR is bound.
NOW, THEREFORE, the condition of this obligation is such that if Principal shall promptly
make payments to all claimants as defined in Section 255.05(1), Florida Statutes, supplying
Principal with labor, Materials, or supplies, used directly or indirectly by Principal in the prosecution
of the Work provided for in the Agreement, then this obligation shall be void; otherwise, it shall
remain in full force and effect subject, however, to the following conditions:
1 . This Bond is furnished for the purpose of complying with the requirements of Section
255.05, Florida Statutes, as the same may be amended.
2. Therefore, a claimant, except a laborer, who is not in privity with the CONTRACTOR and
who has not received payment for his labor, Materials or supplies shall, within forty-five (45)
days after beginning to furnish labor, Materials or supplies for the prosecution of the Work,
furnish the CONTRACTOR with a notice that he intends to look to the Bond for protection.
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A Claimant who is not in privity with the CONTRACTOR and who has not received payment
for his labor, Materials or supplies shall within ninety (90) days after performance of the
labor or completion of delivery of the Materials or supplies, or, with respect to rental
equipment. within 90 days after the date that the rental equipment was last on the job site
available for use, deliver to the CONTRACTOR and to the Surety written notice of the
performance of the labor or delivery of the Materials or supplies and of the nonpayment. No
action for the labor, Materials or supplies may be instituted against the CONTRACTOR or
the Surety on the bond after one (1) year from the performance of the labor or completion of
the delivery of the Materials or supplies.
3. The Surety, for value received, hereby stipulates and agrees that its obligations hereunder
shall remain in full force and effect notwithstanding (i) amendments or modifications to the
Agreement entered into by OWNER and Principal without the Surety's knowledge or
consent, (ii) waivers of compliance with or any default under the Agreement granted by
OWNER to Principal without the Surety's knowledge or consent, or (iii) the discharge of
Principal from its obligations under the Agreement as a result of any proceeding initiated
under The Bankruptcy Code of 1978, as the same may be amended, or any similar state or
federal law , or any limitation of the liability or Principal or its estate as a result of any such
proceeding.
4. Any changes in or under the Agreement or Contract Documents and compliance or
noncompliance with any formalities connected with the Agreement or the changes therein
shall not affect Surety's obligations under this Bond and Surety hereby waives notice of any
such changes. Further, Principal and Surety acknowledge that the Sum of this Bond shall
increase or decrease in accordance with the Change Orders (unilateral and bilateral) or
other modifications to the Agreement or Contract Documents.
5. The Performance Bond and the Payment Bond and the covered amounts of each are
separate and distinct from each other.
6. This Bonds shall remain in effect for at least until one year after the date when final payment
becomes due, except as provided otherwise by Laws or Regulations or by the Contract
Documents.
IN WITNESS WHEREOF, this instrument is executed this th
20~
July
Thomas M. Perley
Typed Name
Ro W. Smith J . President
Typed Name and Title
(CORPORATE SEAL)
P.O. Box 590507
Address
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Orlando, FL 32859-0507
City, State, Zip
Mark Allen
Typed Name
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Witnes 0 P cipal
Cheryl Reimann
Typed Name
By
Travelers Casualty & Surety Company of America
Surety
(Surety) Secretary
Robin Williams
Typed Name
407-649-2738
Telephone No.
407-649-2712
Facsimile No.
~RATESEAL) '.
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Witness as to Surety
Robin Williams
Typed Name
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Witness as to Surety
Paul A. Locascio
Typed Name
C~I
Benjamin H. French
Typed Name
P.O. Box 90027
Address
Gainesville, FL 32607
City, State, Zip
352-374-7779
Telephone No.
352-374-8179
Facsimile No.
NOTE: Date of the Bond must not be prior to date of Agreement. If CONTRACTOR is a joint
venture, all venturers shall execute the Bond. If CONTRACTOR is Partnership, all partners shall
execute Bond.
IMPORTANT: Surety companies executing Bonds must appear on the Treasury Department's most
current list (Circular 570 as amended) and be authorized to transact business in the State of
Florida, unless otherwise specifically approved in writing by OWNER.
ATTACH a certified copy of Power-of-Attorney appointing individual Attorney-in-Fact for execution
of Payment Bond on behalf of Surety.
END OF SECTION
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