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HomeMy WebLinkAboutAmerican Standard Construction, Inc. Performance Bond -1994 09 27 ?,<,(' 1~f ,/ . ~, '~. . , '. , J I ) !~ 'I' " .. :~ >' ( ~ " ~ ~' I <: t I, ? d 11 t J ?l , . .; . ~ THE AMERICAN INSTITUTE OF ARCHITECTS . OOND ARB 002329 AlA Document A312 Performance .Bond Any singular reference to Contractor, Surely, Owner or other party shall be considered plural where applicable. CONTRACTOR (Name and Address): AMERICAN STANDARD CONS'IRUCrrON, INC. 1515 S. Orlando Avenue Maitland, Florida 32701 SURETY (Name and Principal Place of Business): AMERICAN BANKERS INSURANCE m OF FLORIDA 8655 E. Via de Ventura Scottsdale, AZ 85258 OWNER (Name and Address): CITY OF WINTER SPINGS WINTER SPINGS, FLORIDA 32708 CONSTRUCTION CONTRACT Date: Amount: Fifty Four Thousand Three Hundred Twenty Five no/100ths Description (Name and Location): Reroofing at 1126 East S.R. 434 Municipal Complex Winter Springs, Florida BOND ARB 002329 Date (Not earlier than Construction Conlracl Dale): September 26, 1994 Amo~nt: $54,325.00 Modific3tions to this Bond: I[] None o See Page 3 CONTRACfOR AS PRINCIPAL Company: (Corporate Seal) P,,~CAN S"r!\N~ ~oo, INC. SIgnature: . ~ i'lame and Titie: Alan Branson President (Any additional signatures appear on page 3) SURETY Company: (Corporate Seal) AMERICAN a::. ;SURANCE (X) OF FLORIDI\ Signature: (Xl ~ - Name and Title: . Carol A. Hopson AttorneY-ln-Fact & Florida Resident Agent (FOR INFORMATION ONL Y-Name, Address and Telephone) AGENT or BROKER: ~ OWNER'S REPRESENTATIVE (Architect, Engineer or C & D Insurance & Bonds, Inc. other party): 4241 Baymeadows Rd., Suite 9 Jacksonville, Florida 32217 I, , . . ~ AlA DOCUMENT AJ12 . PERfORw.ANCE BOND AND P^YMENT BOND. DECEMUER 19&-4 ED. . ^I^ ~ THE MlERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK ^VE.; N.W., W^SHINGTON, D,C. 20006 THIRD PRINTING. MARCH 1987 A312-1984 1 1 The Contractor and the Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors and assigns to the Owner for the performance of the Construction Contract, which is incorporated herein by reference. 2 If the Contractor performs the Construction Contract, the Surety and the Contractor shall have no obligation under this Bond, except to participate in conferences as provided in Subparagraph 3.1. 3 If there is no Owner Default, the Surety's obligation under this Bond shall arise after: 3.1 The Owner has notified the Contractor and the Surety at its address described in Paragraph 10 below that the Owner is consictering declaring a Contractor Default and has requested and attempted to arrange a conference with the Contractor and the Surety to be held not later than fifteen days after receipt of such notice to discuss methods of performing the Construc- tion Contract. If the Owner, the Contractor and the Surety agree, the Contractor shall be allowed a reason- able time to perform the Construction Contract, but such an agreement shall not waive the Owner's right, if any, subsequently to declare a Contractor Default; and 3.2 The Owner has declared a Contractor Default and formally terminated the Contractor's right to complete the contract. Such Contractor Default shall not be de- clared earlier than twenty days after the Contractor and the Surety have received notice as provided in Sub- paragraph 3.1; and 3.3 The Owner has agreed to pay the Balance of the Contract Price to the Surety in accordance with the terms of the Construction Contract or to a contractor selected to perform the Construction Contract in accor- dance with the terms of the contract with the Owner. 4 When the Owner has satisfied the conditions of Para- graph 3, the Surety shall promptly and at the Surety's ex- pense take one of the following actions: 4.1 Arrange for the Contractor, with consent of the Owner, to perform and complete the Construction Contract; or 4.2 Undertake to perform and complete the Construc- tion Contract itself, through its agents or through inde- pendent contractors; or 4.3 Obtain bids or negotiated proposals from qualified contractors acceptable to the Owner for a contract for performance and completion of the Con- struction Contract, arrange for a contract to be pre- pared for execution by the Owner and the contractor selected with the Owner's concurrence, to be secured with pf'rform~n,e and rayment bonds executed by a qualified surety equivalent to the bonds issued on the Construction Contract, and pay to the Owner the amount of damages as described in Paragraph 6 in ex- cess of the Balance of the Contract Price incurred by the Owner resulting from the Contractor's default; or 4.4 Waive its righl to perform and complete, arrange for completion, 0: obtain a new contractor and with reasonable promp Iless under the circumstances: .1 After investigation, determine the amount for which it may beliahle to the Owner and, as soon as practicable after the amount is deter- mined, tender payment therefor to the Owner; or .2 Deny liability in whole or in part and notify the Owner citing reasons therefor. 5 Ifthe Surety does not proceed as provided in Paragraph 4 with reasonable promptness, the Surety shall be deemed to be in default on this Bond fifteen days after receipt of an additional written notice from the Owner to the Surety demanding that the Surety perform its obligations under this Bond, and the Owner shall be entitled to enforce any remedy available to the Owner. If the Surety proceeds as provided in Subparagraph 4.4, and the Owner refuses the payment tendered or the Surety has denied liability, in whole or in part, without further notice the Owner shall be entitled to enforce any remedy available to the Owner. 6 After the Owner has terminated the Contractor's right to complete the Construction Contract, and if the Surety elects to act under Subparagraph 4.1, 4.2, or 4.3 above, then the responsibilities of the Surety to the Owner shall not be greater than those of the Contractor under the Construction Contract, and the responsibilities of the Owner to the Surety shall not be greater than those of the Owner under the Construction Contract. To the limit of the amount of this Bond, but subject to commitment by the Owner of the Balance of the Contract Price to mitigation of costs and damages on the Construction Contract, the Sure- ty is obligated without duplication for: 6.1 The responsibilities of the Contractor for correc- tion of defective work and completion of the Construc- tion Contract; 6.2 Additional legal, design professional and delay costs resulting from the Contractor's Default, and re- sulting from the actions or failure to act of the Surety under Paragraph 4; and 6.3 liquidated damages, or if no liquidated damages are specified in the Construction Contract, actual dam- ages caused by delayed performance or non-perfor- mance of the Contractor. 7 The Surety shall not be liable to the Owner or others for obligations of the Contractor that are unrelated to the Con- struction Contract, and the Balance of the Contract Price shall not be reduced or set off on account of any such unrelated obligations. No right of action shall accrue on this Bond to any person or entity other than the Owner or its heirs, executors, administrators or successors. 8 The Surety hereby waives notice of any change, includ- ing changes of time, to the Construction Contract or to related subcontracts, purchase orders and other obliga- tions. 9 Any proceeding, legal or equitable, under this Bond may be instituted in any court of competent jurisdiction in the location in which the work or part of the work is located and shall be instituted within two years after Contractor Default or within two years after the Contractor ceased working or within two years after the Surety refuses or fails to perform its obligations under this Bond, whichever oc- curs first. If the provisions of this Paragraph are void or prohibited by law, the minimum period of limitation avail- AlA OOCUMENT A312 . PERFORMANCE BOND AND PAYMENT BOND' DECEMBER 1984 ED. . AlA ~ THE AMERICAN INSTITUTE OF ARCHITECTS, 173S NEW YORK AVE.. N.W.. WASHINGTON. D.C. 20006 THIRD PRINTING' MARCH 1987 A312.1984 2 i I ~ l x :.: ::' ... ~ 'l :i ;:j " 'j ~ ;~ :i ~ ,\ ~ 'l ~ '~ , " . :' . .' ~ble to sureties as a defense in the jurisdiction o( the suit sh~1I be applicable, 10 Notice to the Surety, the Owner or the Contractor shall be m~iled or delivered to the ~ddress shown on the sig- n<lture page. 11 When this f)oncJ has been furnished to comply with a statutory or other legal requirement in the location where the construction was 10 be performed, any provision in this Bond conflicting with SJid stJlutory or legal requirement shall be deemed cleleted herefrom and provisions con- forming to such stJtutory or other legal requirement shall be deemed incorporated herein, The intent is that this Bond shall be construed as a statutory bond and not as a common law boncJ. 12 DEFINITIONS 12.1 [3alance of the Contract Price: The total amount payable by the Owner to the Contractor under the Construction Contract after all proper adjustments have been made, including allowance to the Con- MODIFICATIONS TO THIS [30ND ARE AS FOLLOWS: tractor o( any amounts received or to be received. by the Owner in settlement o( insurance or other claims (or damages to which the Contractor is entitled, re- duced by all valid and proper payments made to or on behalf of the Contractor under the Construction Con- tract. 12.2 Construction Contract: The agreement between the Owner and the Contr;lctor identified on the sig- nature page, including all Contract Documents and changes thereto. 12.3 Contractor Default: railure of the Contractor. which has neither been remedied nor waived, to per- (orm or otherwise to comply with the terms o( the Construction Contract. 12,4 Owner Default: Failure of the Owner, which has neither been remedied nor waived, to pay the Con- tractor as required by the Construction Contract or 10 perform and complete or comply with the other terms thereof. (Space is provided below (or ~ddilional signatures of ;lddcd parties, other than those arrearing on the cover page.) CONTRACTOR AS PRINCIPAL Company: (Corporilte Seill) Signature: Name <lnd Title: Address: SURETY Comp<lny: (Corporate Se;ll) Signature: Name and Title: Address: AlA DOCUMENT A312 . PUHOI-lMANCE UOND AND PAYMENT UOND . UE(;EMUER '1984 EO. . AlA Ill> THE AMERICAN INSTITUTE Of AI-lCHITECTS. 1735 NEW YORK AVE.. N.W., WASHINGTON, D,C, 20006 THIRD PRINTING ' M^,(r.111~07 A312.1984 3