HomeMy WebLinkAboutPerformance and Payment BondBY THIS BOND, We
Document 00416 8-5650D
PERFORMANCE AND PAYMENT BOND
Bond No. 506034
One Crow, Inc., as
Principal, hereinafter calved CONTRACTOR,
and
Navigators Insurance Company , as.Surety, are bound to the City of Miami,
Florida, , hereinafter called CITY and Miaini-Dade County, Florida as Joint Obligees,
hereinafter jointly referred to as .OBLIGEES, hereinafter called CITY, in the amount of
Two Hundred Eighty Six Thous ndd
and XX/100*****************10ollars ($ 286,000.00 for the payment whereof
CONTRACTOR and Surety bind themselves, their heirs, executors, administrators,
successors and assigns, jointly and severally.
WHEREAS, CONTRACTOR . has by written agreement entered into a
Contract, Bid/Contract No: B-5650D , awarded the 14 th day of
June , 20 04 , with CITY which Contract Documents are by
reference incorporated herein .and made` a part hereof, and specifically include
provision for liquidated damages, and other damages identified, and for the
purposes of this Bond are hereafter referred to as the "Contract";
THE CONDITION OF THIS•B'OND is that if CONTRACTOR:
1. Performs the Contract between CONTRACTtR and CITY for construction of
0vertown Stormwater Pump Station Upgrades . , the Contract
being made a part of this Bond by reference, at the times and in the mariner
prescribed in the Contract; and •
2. Pays CITY all losses, liquidated darnages, expenses, costs and attorney's
fees including appellate proceedings, that CITY sustains as a result of default
by CONTRACTOR under the Contract; and . - •
3. Promptly makes payments to all ,claimants as defined by Florida Statute
255.05(1) for all labor, .materials and supplies Used directly or indirectly by
CONTRACTOR in the performance of the Contract;
THEN CONTRACTOR'S OBLIGATION -SHALL. BE VOID; OTHERWISE, IT
SHALL REMAIN IN FULL FORCE AND. EFFECT SUBJECT, HOWEVER, TO
THE FOLLOWING CONDITIONS:
Document 00416 B-565013
3.1. A claimant. except a laborer, who is not in privity with
CONTRACTOR and who has not received payment for its labor,
materials, or supplies shall, within forty-five (45) days after beginning
to furnish labor, materials, or supplies for the prosecution of the work,
furnish to CONTRACTOR a notice that he intends to look to the bond
for protection.
3.2. A claimant who is not in privity with CONTRACTOR and who has not
received payment for its labor, materials, or supplies shall, within
ninety (90) days after performance of the labor or after complete
delivery of the materials or supplies, deliver to CONTRACTOR and to
the Surety, written notice -of the performance of the labor or delivery
of the materials or supplies and of the nonpayment.
3.3. No action, -for the labor, materials, ,or'supplies may be instituted
against CONTRACTOR•or the Surety unless the notices stated under
the preceding con'dThons (2.1) •and (22) have been given. •
3.4. Any action under this Bond must be instituted in accordance with
the longer of the applicable: Notice and Time Limitations provisions
prescribed in Section;255:05(2): or Section 95.11, Florida Statutes.
4. Performs the guarantee of all work and materials furnished under the
Contract for the time specked in the Contract;„ then THIS BOND IS VOID,
OTHERWISE IT REMAINS IN FULL FORCE AND' EFFECT.
•
Whenever CONTRACTOR shall be, and is declared by CITY to be, in default
under the Contract, CITY having performed CITY, obligations there under, the
Surety may promptly remedy the default,: dr Shall promptly:
4.1. Complete the Project in, accordance with the terms and conditions of
the Contract Documents;. or ' . ' - *"
4.2, Obtain a bid or bids for cbmpletirig the'Project in accordance with the
terms and conditions,; of:, tbe•...Contract Documents, and upon
determination by Surety of the lowest responsible Bidder, or, if CITY
elects, upari :determination by CITY apd;'Surety jointly of the lowest
responsible Bidtfer,'arrange for a contraCt between such Bidder and
CITY, and make available as work progresses (even though there
should be'a default or a succession.cf:def'aults 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 CITY
DocUrnent 0041S B-5650U
to CONTRACTOR under the Contract and any amendments thereto,
less the amount properly paid by CITY to CONTRACTOR.
No right of action shall accrue on this bond to or for the use of any person or
corporation otherthan CITY named herein.
The Surety hereby waives notice of and agrees that any changes in or under
the Contract Documents and compliance or noncompliance with any
formalities connected with the Contract or the changes does not affect
Surety's obligation under this Bond.
Signed and sealed this 25th day of June
WITNESSES/ATTEST:
(CORPORATE SEAL)
CONTRACTOR:
. One Crow, Inc.
,20 04
me of Cgntractdrj ,
:By: /
‘Sig+tatureY
James S Crowell, President
(Print Narne and Title)
INSURANCE COMPANY:
Navigato I . an Company
By:
Agent and Attomey-in-Fact
Shawn Burton
Addre'ss:. 1375 E. ' Woodfi l ed Rnad. i72Q
(Street)
Schaumburg. IL 6f)171
(City/State/Zip Code)
Telephone No.: (800) 394-3909