HomeMy WebLinkAboutFlorida Industrial Electric Performance Bond -2000 01 01~.
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Bond No. 81889062
SECTION 00610
PERFORMANCE BOND FORM Florida Industrial
THIS INSTRUMENT WITNESSETH: That we (1) Electric Inc . a
(2) Corporation organized under the laws of the State of Florida and regularly authorized to do
Federal Insurance Com an
business in the State of Florida as Principal, and we (3) P Y a
(2) Corporation organized under the laws of the State of Indiana and regulari
authorized to do business in the State of Florida as Surety, are held and firmly bound untoCity o W nter Springs
her~inaft~r c~lled th Owner in accordance with a Contract hereinafter referred to, in the penal sum of
ne un red Spixteen Th and Six HundredDollarS ($ 116, 629.29*** )lawful money of the Unite
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 Principal has entered into a written contract with the Owner dated
forthe work designated as Signalization located
in Winter Springs, FL in conformity 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 o
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 full
indemnify and save harmless the Owner from all cost and damage which the Owner might suffer by reason of th
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 o
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.
tN 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
(LIBRARY NOTE: IF A CITY OF SANFORD JOB, THEY REQUIRE TWO YEARS, AND SHOULD SO REVISED
from the date of final acceptance.
tT 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, i
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 fumish 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 an
beneficiary hereunder, whose claim may be unsatisfied.
(1} Contractor
(2) Sole Proprietor, Partnership, or Corporation
(3) Surety
(4) 110 percent of the Contract
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IN WITNESS WHEREOF, this instrument is executed in several counterparts, each one of which shall be deemed an
original, this the day of , 20_.
(SEAL) (1)
BY~ 'J ~ ~~, Countersignature:
Title: ~ ,. ,, ~• ~ ~~
n By : ~~~
(SEAl=j~ (2) ~ 1, ~ ~ Richard E. Daniels
Title:
(Attorney in Fait) Be erly A. Ireland
(1) Contractor
(2) Surety
END OF SECTION