HomeMy WebLinkAboutEsterson Construction Company Labor and Materials Payment Bond -1997 05 08~,
BOND NO.: U2634983
SECTION 00620
LABOR AND MATERIALS PAYMENT BOND FORM
THIS INSTRUMENT WITNESSETH: That vve (1) ESTERSONCONSTRUCTIONCOMPANY, INc. a (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) UNITED PACIFIC INSURANCE COMPANY
a (2) Corporation organized under the laws of the State of Florida and regularly authorized to do business in
the State of (3)PENNSYLVANIA as Surety, are held and firmly bound unto (5) CITY OF WINTER SPRINGS, FLORIDA
hereinaffer called the Owner in accordance with a Contract hereinaffer referred to, in the penal sum of (b)
ONE HUNDRED EIGHTY-FOUR THOUSAND THREE HUNDRED SEVENTY FIVE AND 00/100 Dollars ($ 184,375.00 ) IaWful
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, ffrml by these
presents. WHEREAS, the said principal has entered into a written contract with the Owner dated
for work designated as CITY OF WINTER SPRINGS ORANGE AVENUE IMPROVEMENTS
located in CITY OF WINTER SPRINGS, FL 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 satisfy all claims and
demands incurred by the Principal of said Contract, and shall pay all obligations arising thereunder, and shall
fully indemnity 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 defauH 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.
IN ADDITION, the Principal and Surety, jointly and severally, expressly guarantee that the Owner will be held
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 this Bond, 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 hit
use and benefit. 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) State in which project is located
(4) Surety
(5) Owner
(b) 100 percent of the Contract
00620-1
IN WITNESS WHEREOF, this nstrument is executed in several counterparts, each one of which shall be deemed
(SEAL) (2) UNITE/D~PACIFIC INSURANCE COMPAN
BI`' __ ' v
an original, this the `day of ~ , 1997.
(SEAL) (1) ESTERSON CONSTRUCTION COMPANY, INC.
Title: ~K- a I D ~ i`J ~-
Title:
~RYCE R. GUIGNARD,
(Attorney in Fact 8~ Florida Licensed Resident Agent)
(1) Contractor
(2) Surety
END OF SECTION
00620-2