HomeMy WebLinkAboutEsterson Construction Company Performance Bond -1997 05 08BOND NO.: U2634983
SECTION 00610
PERFORMANCE BOND FORM
THIS INSTRUMENT WITNESSETH: That we (1) ESTERSON CONSTRUCTION COMPANY, 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 PACIFIC INSURANCE COMPANY a (2) Corporation
organized under the laws of the State of PENNSYLVANIA and regularly
authorized to do business in the State of Florida as Surety, are held and firmly bound unto CTI'Y of WINTER
SPRINGS, FLORIDA , hereinaffer called the Owner in accordance with a Contract hereinaffer referred to, in
the penal sum of (4)ONE HUNDRED EIGHTY-FOUR THOUSAND THREE HUNDRED SEVENTY FIVE AND o0/100 Dollars
($ 184,375.00 )lawful money of the Unffed 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 ~ ~ ~~
for the work designated as CITY OF WINTER SPRINGS ORANGE AVENUE IlvIPROVEMENTS
located in CITY OF WINTER SPRINGS, FLORIDA in conformity with Contract Documents hereby
referred to and made a part hereof, the same to all intents and purposes as if wriHen 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 'rt 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
pertormance 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 defauR 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, ff 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 offer the Work is completed,
if provided for in the Contract, may be brought at any time up to six months offer 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 ff 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
00610-1
IN WITNESS WHEREOF, this instrument is executed in several counterparts, each one of wfiich shall be deemed
an original, this the ~~ ' day of l~h ~.'~' , 1997.
(SEAL) (1) ESTERSON CONSTRUCTION COMPANY, INC.
By: ~ '
iitle: ~-ti..~3 l 0 fci~l T~ _
(SEAI) (2jIJNITED PACIFIC INSURANCE COMPANY
BY~
Title:
B1fiPGl° R. GUIGNARD,
(Attorney in Fact b Florida licensed Resident Agent)
(1) Contractor
(2) Surety
END OF SECTION
00610-2