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Home My WebLink AboutWaste Pro - Annually Renewable Performance Bond 2011 03 01This Bond replaces The Hanover Insurance Company Bond No. 1806698 RLI Insurance Company Annually Renewable Performance Bond BOND # CMS0270864 KNOW ALL MEN BY THESE PRESENTS: That Waste Pro of Florida, Inc. (hereinafter called the Principal), and RLI Insurance Company (hereinafter called the Surety), are held and frnnly bound unto City of Winter Springs, Florida (hereinafter called the Obligee), in the firll and just sum of Five Hundred Thousand Dollars and 001100 Dollars (S 500,000.00 ), the payment of which sum, well and truly to be made, the said Principal and Surely bind themselves, and each of their heirs, administrators, executors, and assigns, jointly and severally, firmly by these presents. WHEREAS, the Principal has by written agreement dated the 1 St day of March 2011 entered into a Contract with the Obligee for Solid Waste Agreement _ for a period of 6 years which contract is hereby referred to and made a part hereof WHEREAS, the Obligee has agreed to accept a bond guaranteeing the performance of said contract for a period of one year. NOW, THEREFORE, THE CONDITIONS OF THE ABOVE OBLIGATION IS SUCH, that if the Principal shall well and truly perfoxnt each and every obligation in said Contract at the time and in the manner specified during, the term of this bond, and shall reimburse said Obligee for any loss which said Obligee may sustain by reason of failure or default on the part of said Principal, than this obligation shall be void, otherwise to remain in full force and effect. PROVIDED, HOWEVER, That this bond is subject to the following conditions_ 1. This bond is for the term beginning October 1, 2014 and ending September 30, 2015 , The bond may be extended for additional terms at the option of the surety, by continuation certificate executed by the Surety. This bond may also be cancelled by the Surety with thirty (30) days written notice to the Obligee. Neither non - renewal or cancellation by the Surety, nor failure, nor inability of the Principal to file a replacement bond shall constitute a loss to the Obligee recoverable under ibis bond. 2. In the event of default, the Surety will have the right and opportunity, at its sole discretion, to: a) cure the default; b) assume the remainder of the Contract and to perform or sublet same; c) or to tender to the Obligee funds sufficient to pay the cost of completion less the balance of the Contract price up to an amount not to exceed the penal sum of the bond. In no event shall the Surety be liable for fines, penalties, liquidated damages, or forfeitures assessed against the Principal. 3. No claim, action, suit or proceeding, except as hereinafter set forth, shall be had or maintained against the Surety on this instrument unless same be brought or instituted upon the Surety within one year from ter-rnination or expiration of the bond term. 4_ No right of action shall accrue on this bond to or for the use of any person or corporation other than the Obligee named herein or the heirs, executors, administrator or successors of Obligee. S. The aggregate liability of the surety is limited to the penal sum stated herein regardless of the number or amount of claims brought against: this bond and regardless of the number of years this bond remains in force. 6. If any conflict or inconsistency exists between the Surety's obligations or undertakings as described in this bond and as described in die underlying document, then the tetrns of this bond shall prevail. 7. 'Mis bond shall not bind the Surety unless the bond is accepted by the Obligee. The acknowledgement and acceptance of this bond is demons tcated by suing where indicated below. If this obligation is not accepted by way of signature of the Obligee below, this bond shall be deemed null and void. Signed and sealed this 29th day of September^ 2014 PRINCIPAL; SURETY- Waste Pro of Florida Inc. (seal) RLI [ ceps (seal By: �2tts� -E� ( 3w� By: (name & title) 1LL�vd'�� Attorney -in -Fact Lisa Pless THE ABOVE TERMS AND CONDITIONS OF THIS BOND HAVE BEEN REVIEWED AND ACCEPTED BY AN AUTHORIZED REPRESENTATIVE OF THE (OBLIGEE). ACKNOWLEDGED AND ACCEPTED BY OBL E: BY- PRIN"T"ED NANM=LE_ K e E n � C .� � - � . • "•• • , � DATE: i z l �zf GCOORa rt HAL PLEASE RETURN A COPY OF ACCEPTED BOND TO: ;'`• •.., ..`: . RLI Commercial Surety Attention: Corey Johnson 1165 Sanctuary Parkway Suite 350 Alpharetta, GA 30009 �k—RUIC.C."y POWER OF ATTORNEY RL10 RLI Insurance Company P Y P.O. Box 3967 Peoria IL 61612 -3967 Contractors Bonding and Insurance Company Phone: 30-692-1000 Fax:309- 683 -16111 Bond No, CMS 0270864 Know All Men by Tl:ese Presents: That this Power of Attorney is not valid or in effect unless attached to the bond which it authorizes, but may be detached by the approving officer if desired. That this Power of Attorney may be effective and given to either or both of RLI Insurance Company and Contractors Bonding and Insurance Company, required for the applicable bond. That RLI Insurance Company, an Illinois corporation, and/or Contractors Bonding and Insurance Company, a Washington corporation (as applicable), each authorized and licensed to do business in all states and the District of Columbia do hereby make, constitute and appoint: Lisa Pless in the City of Atlanta , State of GA as Attorney in Fact, with full power and authority hereby conferred upon himther to sign, execute, acknowledge and deliver for and on its behalf as Surety, in general, any and all bonds, undertakings, and recognizances in an amount not to exceed Ten Million Dollars (S 10,000,000) for any single obligation, and specifically for the following described bond. Principal: Waste Pro of Florida, Inc. Obligee: City of Winter Springs, Florida RLI Insurance Company and Contractors Bonding and Insurance Company, as applicable, have each further certified that the following is a true and exact copy of a Resolution adopted by the Board of Directors of each such corporation, and now in force, to -wit: "All bonds, policies, undertakings, Powers of Attorney or other obligations of the Corporation shall be executed in the corporate name of the Corporation by the President, Secretary, any Assistant Secretary, Treasurer, or any Vice President, or by such other officers as the Board of Directors may authorize. The President, any Vice President, Secretary, any Assistant Secretary, or the Treasurer may appoint Attorneys in Fact or Agents who shall have authority to issue bonds, policies or undertakings in the name of the Corporation. The corporate seal is not necessary for the validity of any bonds, policies, undertakings, Powers of Attorney or other obligations of the Corporation. The signature of any such officer and the corporate seal may be printed by facsimile or other electronic image." IN WITNESS WHEREOF, RLI Insurance Company and/or Contractors Bonding and Insurance Company, as applicable, have caused these presents to be executed by its respective Senior Vice President with its corporate seal affixed this 29th day of September 2014 n %,,, ATTEST: a: coRVOfy,F •. :SEALI ........ RLI Insurance Company c Q9; °pFOr,4t ' °v • ti _._ � . � : Contractors Bonding and Insurance Company R' SEAL '•. 1979 ' c • "�� C l N 0�5•`O . �tslriNCSOa . Cynthia S. W hm Assistant Secretary Roy C. ie Senior Vice President On this 29th day of September 2014 before me, a Notary Public, personally red Roy C. Die and „ Cynthia S. Dohm , who being by me duly sworn, acknowledged that they signed the above Power of Attorney as Senior Vice President and Assistant Secretary respectively, of RLI Insurance Company and Contractors Bonding and Insurance Company, and acknowledged said instrument to be the voluntary act and deed of said corporation. LLER FICIAL SEAL" A00NI713 RLI insLwancmpa PRU O.Box e� nv RLI Insurance Company P.O. Box 3967 Peoria IL 61612 -3967 Phone: so9. 692 -1000 Fax: 3os- 6ss -fslo December 31, 2013 Admitted Assets Investments; Fixed rnaftuities� ......... . Equity securities ............................ . Short-term irwest tents .................. . .. . Realestate ...... ............................... Properties field to produce income ........... . ...... . Cash an hared and on deposit ..... . ............ othsrinvesw assets ............................. Receivables for securAes .......................... . A9&nW balances .. ............................... Invesbnent inoorne due and aaxueQ ................. Funds held ...... ............................... Reinsurance reaaverable an paid (asses .............. Federal income tmres mo vable........ Naldafenedtax assal y ............................ Guarantee fiords receivable or on deposit ............. Electronic data prooassing equipment, net or depretaatioq ............................ Receivable from altillain ......................... 00W admittsd assaw ............................ . Tote) Admttted Assets State oflliincis County of Peoria The undersigned, being duly sworn, says: That he is the President of RU Insurance Company; #hat said Company is a corporation duly organized, in the State of llfinds, and froensed and engaged in business in the State of and has duly eompfied with aff ft requirements of the taws of said State applicable of said Company and is duly qualified to act as Surety under such laws; that said Company has also compfred with and is duly quallfied to act as Surety under the Act of Congress approved July 1947, 6U-S-C sec. 6-13, and that to the best of his knowledge and befref the above statement is a full, true, and coriecf statement of the frnandal condition of the said Company on the 31st day of December 2013 Attest: SEAL {Co=rste Michael X Affixed } Cynthia S. Dohm Assistant Secretary Swam to before me this 4th day of March, 2014. .'0"':lA1 SEAL' M. J C C"ER ivat&riRl uassioh Fx�rgESmnsna Seal . Affixed } }} .iacqu ine M. Bocktdf Notary Public, State of lllirrois M0t]St3314 Liabilities and Surplus LiabWfi9st 3 565.275,057 Reserve for unpaid losses and loss 936.244,320 add expenses ........................ $ 444,285.643 2,486,269 Unearned premiums .............. ........... 201 29,816 22,932.965 Aouued expenses ............................ 52,704,384 0 Funds held ... ............................... 5.326.928 27278,945 Advance premiums ............................ 4.990,302 750.000 Amounts Withheld ................ .. $1.410,39& 0 Ceded Mirm aerie premium payable .......... 33,163471 108.168.054 Payable for -c-% as ............... ......... 0 6,186.935 Staft" penalties ............................. 443,200 4,DDD Cuna t faderal d foreign income texas ............ 2,507,579 4. 352.755 Federal inowtne tax payable ..................... 13,100R" 0 Soranved money and a=rued iirtetest .... _. .... .. 1,288 0 Drafts outararatp . ............................... 0 64.220 Payable to alliaiate ............................... 0 Dow hablubas ......... . ....................... 1,052.E >39 438,158 4.298,475 Total t.labftas .. . ............................... S B20 2181660 1,555,812 Surpkw 5 i. 678.437.985 Cl— stock ............................... $ 10,DDD,375 Additional paid -in capkal ....................... 242,451,D84 timed wap€us.. ..... .................... 6061769.866 Total Surplus $ 859,221.325 Total Liabilities and Surplus S 1,679.437.985 The undersigned, being duly sworn, says: That he is the President of RU Insurance Company; #hat said Company is a corporation duly organized, in the State of llfinds, and froensed and engaged in business in the State of and has duly eompfied with aff ft requirements of the taws of said State applicable of said Company and is duly qualified to act as Surety under such laws; that said Company has also compfred with and is duly quallfied to act as Surety under the Act of Congress approved July 1947, 6U-S-C sec. 6-13, and that to the best of his knowledge and befref the above statement is a full, true, and coriecf statement of the frnandal condition of the said Company on the 31st day of December 2013 Attest: SEAL {Co=rste Michael X Affixed } Cynthia S. Dohm Assistant Secretary Swam to before me this 4th day of March, 2014. .'0"':lA1 SEAL' M. J C C"ER ivat&riRl uassioh Fx�rgESmnsna Seal . Affixed } }} .iacqu ine M. Bocktdf Notary Public, State of lllirrois M0t]St3314