HomeMy WebLinkAboutexhibit 10-performance bond09/04/2003 15:40 FAX 305 460 5371
CITY OF CC FINANCE L1039
CHUMS
CHUIBB GROUP OF IFI,I[SURANCE COMPANIES
15 Mountain View Road, P.O. Box 1615, WE —on, New Jersey 07061-1615
Bond No. 8113-20-20
That we,
FEDERAL INSURANCE COMPANY
PERFORMANCE BOND
Amount $ 1,000 ,000 .00
Know All Men By These Presentsil
Waste Management, Inc. of FlorLda
(hereinafter called the Principal),
as Principal and the FEDERAL INSURANCE COMPFNY, Warren, New Jersey, a corporaticn duly orga-
nized under :he laws o" the State of Indiana, (hereinafi :v called the Surety), as Surety, are held and firmly
bound unto
the City of Coral Gables
(hereinafter called the Obligee),
in the sure c.:
One Million and 00 / 100 - - - Dollars
($ 1,000,0J)0.00** ), for the payments of wh rh we, the said Principal and the sald Surety, bind
ourselves:,, c Jr heirs, executors, administrators, succc ssors and assigns, jointly and severa.lay, firmly by
'these prose its.
Sealed with our seals and dated this 3rd day of August X)0c2000
WHEREAS, the Principal entered into a certain Contra -t with the Obligee, dated October :. , &2000
for
Solid Waste and Recycling Collection Services Contract
in accordance with the terms and conditions of said Cc ntract, which is hereby referred to and made a part
hereof a:; if JIIy set forth heroin.
NOW, TI-I Ef IEFORE, THE CONDITION OF THIS OBL CATION IS SUCH, that If the above bounden Prin-
cipal shall 1ne0 and Truly keep, do and perform each ar ct every, all and singular, the matters and things in
said Contrail set forth and specified to be by said Prin..ipal kept, done and performed, at the times and in
the manner In said Contract specified, or shall pay ov id., make good and reimburse to the above named
Obligee, all 7ss and damage which said Obligee may ustain by reason of failure or default cin the part of
the said PO r,ipal so to do, Then this obligation shall be r till and vold; otherwise shall remain in ull force and
effect, subje: t, however, to the following conditions:
NOTWITHS LANDING ANYTHING CONTAINED IN TF Is:i CONTRACT TO THE CONTRARY, THE LIABIL-
ITY OF T HIE PRINCIPAL AND THE SURETY UNDER THIS BOND IS LIMITED TO THE TEFIIv1 OF THE
CONTRpi.C1 FROM 10/1/2000 TO 9/30/2001 ANY EXTENSIONS
OR RENEWALS OF THIS BOND MUST BE CONSENTED TO IN WRITING BY THE PRINCIPAL AND
THE SUF'IE'Y. FAILURE TO EXTEND OR RENEWTF IS BOND BY THE PRINCIPALANT)THE SURETY
SHALL NIOT CONSTITUTE A DEFAULT UNDER TH1. BOND.
Contracts miith renewal Options
Form 15.02-0330(rov. 4-95)