HomeMy WebLinkAboutA.P.E.C., Inc. Performance Bond September -1999 09 02
THE AMERICAN INSTITUTE OF ARCHITECTS
.
Bond No.: 0707-17011
Executed in 4 Counterparts
AlA Document A311
Performance Bond
KNOW ALL MEN BY THESE PRESENTS: that
APEC, Inc.
7819 Thicket Lane, Orlando, FL 32819 (407) 493-4022
(Here insert full name and address or legal title of Contractor)
as Principal, hereinafter called Contractor, and,
John Deere Insurance Company
3400 80th Street, Moline, IL 61265-5886 (800) 447-0633
as Surety, hereinafter called Surety, are held and firmly bound unto
City of Winter Springs
1126 East SR434, Winter Springs FL 32708':'2715 (407) 327-5989
(Here insert full name and address or legal title of Surety)
(Here insert full name and address or legal title of Owner)
as Obligee, hereinafter called Owner, in the amount of
Sixty Nine Thousand, Two Hundred Fifty & 00/100
Dollars ($ ---69,250.00--
),
for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors
and assigns, jointly and severally, firmly by these presents.
WHEREAS,
Contractor has by written agreement dated
(Here insert full name and address and description of project)
, entered into a contract with Owner for
Project #014-99, New Turn Lane, Curb & Gutter, Striping Overlay @ Hayes Road, SR434, Winter Springs FL
in accordance with Drawings and Specifications prepared by
(Here insert full name and address or legal title of Architect)
which contract is by reference made a part hereof, and is hereinafter referred to as the Contract.
AlA DOCUMENT A311 . PERFORMANCE BOND AND LABOR AND MATERIAL PAYMENT BOND' . AlA @ 1
FEBRUARY 1970 ED. . THE AMERICAN INSTITUTE OF ARCHITECTS. 1735 N.Y. AVE.. N.w.. WASHINGTON. D.C. 20006
~o Riej^. 222 S. Westm~nte Drive, Suite 307
S Jf<ElY . Altamonte Sprmgs, FL 32714
lNds INC. (407) 786-7770
PERFORMANCE BOND
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly and faithfully perform
said Contract, then this obligation shall be null and void; otherwise it shall remain in full force and effect.
The Surety hereby waives notice of any alteration or
extension of time made by the Owner.
Whenever Contractor shall be, and declared by Owner
to be in default under the Contract, the Owner having
performed Owner's obligations thereunder, the Surety
may promptly remedy the default, or shall promptly
1) Complete the Contract in accordance with its terms
and conditions, or
2) Obtain a bid or bids for completing the Contract in
accordance with its terms and conditions, and upon de-
termination by Surety of the lowest responsible bidder,
or, if the Owner elects, upon determination by the
Owner and the Surety jointly of the lowest responsible
bidder, arrange for a contract between such bidder and Owner,
and make available as Work progresses (even
though there should be a default or a succession of
Signed and sealed this
0) Ai 9
n \ I)~. /7./
L/~'
(Witness)
~dJJeIA-R..eA_/) ;f ~e.l!.fl~
(Witness
defaults under the contract or contracts of completion
arranged under this paragraph) sufficient funds to pay the
cost of completion less the balance of the contract price;
but not exceeding, including other costs and damages
for which the Surety may be liable hereunder, the amount
set forth in the first paragraph hereof. The term "balance
of the contract price," as used in this paragraph, shall mean
the total amount payable by Owner to Contractor
under the Contract and any amendments thereto, less
the amount properly paid by Owner to Contractor.
Any suit under this bond must be instituted before
the expiration of two (2) years from the date on which
final payment under the Contract falls due.
No right of action shall accrue on this bond to or for
the use of any person or corporation other than the
Owner named herein or the heirs, executors, adminis-
trators or successors of the Owner.
day of
.:5e;O te HAbe r
~-9 99
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APEC, Inc. I j / t/
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(Title)
(Seal)
John Deere Insurance Company
(Surety)
(Seal)
,~
Jeffrey i ,(Title)Attorney-in-Fact & Florida
Licensed Resident Agent (407) 786-7770
AlA DOCUMENT A311 . PERFORMANCE BOND AND LABOR AND MATERIAL PAYMENT BOND. . AIA@
FEBRUARY 1970 ED.. THE AMERICAN INSTITUTE OF ARCHITECTS. 1735 N.Y. AVE. N.W., WASHINGTON, D.C. 20006
2