HomeMy WebLinkAboutA006 - Performance Bond dated December 21, 1992 Performance Bond
Conforms with The American Institute of Architects
AIA Document A312
AnV singular reference to Contractor Surety Owner or other party shall be considered plural where applicable
BOND NO. 118810
CONTRACTOR (Name & Adress): SURETY(Name and Principal Place of Business):
DALAN/JUPITER, INC. NATIONAL UNION FIRE INSURANCE
615 N. Wabash COMPANY OF PITSBURGH, PA
Chicago, IL 60611 70 Pine Street
New York
OWNER (Name & Address):
THE CITY OF AMES, IOWA
CONSTRUCTION CONTRACT
Date: 12/21/1992
Amount: $24,800.00
Description: The installation and construction of a public sidewalk and a public bicycle path to the
Southwood Subdivision of Ames, Iowa (per contract)
BOND
Date (Not earlier than Construction Contract Date):
Amount: Twenty Four Thousand Eight Hundred and 00/100 ($24,800.00)
Modifications to this Bond: ( ) None ( ) See Page 3
CONTRACTOR AS PRINCIPAL SURETY
Company: (Corporate Seal) Company: (Corporate Seal)
DALAN/JUPITER, INC. NATIONAL UNION FIRE INSURANCE
COMPANY OF PITSBURGH, PA
Signature: Signature:
Name & Title: PEat F. Valy Name and Title: Ann Formhals
Presiden Attor ey-in-Fact
COUNTERGS,'IGNATURE
(Any additional signatures appear on page 3) BY: -�3t'� U,4/
Agent
(FOR INFORMATION ONLY- Name, Address and Telephone) /).F-
AGENT or BROKER: OWNER'S REPRESENTATIVE (Architect,
Near North Insurance Brokerage Engineer or other party:
875 N. Michigan Avenue
Chicago
(312) 280-5600
REC# 4056
AIAPF 6/92
Page 1 of 3
I The Contractor and the Surety, jointly and severally .1 After investigation, determine the amount for
bind themselves, their heirs, executors, administrators, which it may be liable to the Owner and, as soon
successors and assigns to the Owner for the performance as practicable after the amount is determined,
of the Construction Contract,which is incorporated herein tender payment therefor to the Owner; or
by reference.
.2 Deny liability in whole or in part and notify the
2. If the Contractor performs the Construction Contract, Owner citing reasons therefor.
the Surety and the Contractor shall have no obligation
under this Bond, except to participate in conferences as 5 If the Surety does not proceed as provided in
provided in Subparagraph 3.1. Paragraph 4 with reasonable promptness, the Surety shall
l be deemed to be in default on this Bond fifteen days after
3. If there is no Owner Default, the Surety's obligation receipt of an additional written notice from the owner to
under this Bond shall arise after: the Surety demanding that the Surety perform its
obligations under this Bond, and the Owner shall be
3.1 The Owner has notified the Contractor and the entitled to enforce any remedy available to the Owner. If
Surety at its address described in Paragraph 10 below the Surety proceeds as provided in Subparagraph 4.4, and
that the Owner is considering declaring a Contractor the Owner refuses the payment tendered or the Surety
Default and has requested and attempted to arrange a has denied liability, in whole or in part, without further
conference with the Contractor and the Surety to be notice the Owner shall be entitled to enforce any remedy
held not later than fifteen days after receipt of such available to the Owner.
notice to discuss methods of performing the
Construction Contract. If the Owner, the Contractor 6 After the Owner has terminated the Contractor's right
and the Surety agree, the Contractor shall be allowed to complete the Construction Contract, and if the Surety
a reasonable time to perform the contract, but such an elects to act under Subparagraph 4.1, 4.2, or 4.3 above,
agreement shall not waive the Owner's right, if any, then the responsibilities of the Surety to the Owner shall
subsequently to declare a Contractor Default; and not be greater than those of the Contractor under the
Construction Contract, and the responsibilities of the
3.2 The Owner has declared a Contractor Default and Owner to the Surety shall not be greater than those of
formally terminated the Contractor's right to complete the Owner under the Construction Contract. To the
the contract. Such Contractor Default shall not be Limit of the amount of this Bond, but subject to
declared earlier than twenty days after the Contractor commitment by the Owner of the Balance of the Contract
and the Surety have received notice as provided in Price to mitigation of costs and damages on the
Subparagraph 3.1; and Construction Contract, the Surety is obligated without
duplication for:
3.3 The Owner has agreed to pay the Balance of the
Contract Price to the Surety in accordance with the 6.1 The responsibilities of the Contractor for
terms of the Construction Contract or to a contractor correction of defective work and completion of the
selected to perform the Construction Contract in construction Contract;
accordance with the terms of the Contract with the
Owner. 6.2 Additional legal, design professional and delay
costs resulting from the Contractor's Default, and
4 When the Owner has satisfied the conditions of resulting from the actions or failure to act of the
Paragraph 3, the Surety shall promptly and at the Surety's Surety under Paragraph 4; and
expense take one of the following actions:
6.3 Liquidated damages, or if no liquidated damages
4.1 Arrange for the Contractor, with consent of the are specified in the Construction Contract, actual
Owner, to perform and complete the construction damages caused by delayed performance or non-
Contract; or performance of the Contractor.
4.2 Undertake to perform and complete the 7 The Surety shall not be liable to the Owner or others
Construction contract itself, through its agents or for obligations of the Contractor that are unrelated to the
through independent contractors; or Construction Contract, and the Balance of the Contract
Price shall not be reduced or set off on account of any
4.3 Obtain bids or negotiated proposals from qualified such unrelated obligations. No right of action shall
contractors acceptable to the Owner for a contract for accrue on this Bond to any person or entity other than
performance and completion of the Construction the Owner or its heirs, executors, administrators or
Contract, arrange for a contract to be prepared for successors.
execution by the Owner and the contractor selected
with the Owner's concurrence, to be secured with 8 The Surety hereby waives notice of any change,
performance and payment bonds executed by a qualified including changes of time, to the Construction Contract
surety equivalent to the bonds issued on the or to related subcontracts, purchase orders and other
Construction Contract, and pay to the Owner the obligations.
amount of damages as described in Paragraph 6 in
excess of the balance of the Contract Price incurred by 9 Any proceeding, legal or equitable, under this Bond
the Owner resulting from the Contractor's default; or may be instituted in any court of competent jurisdiction
in the location in which the work or part of the work is
4.4 Waive its right to perform and complete, arrange located and shall be instituted within two years after
for completion, or obtain a new contractor and with Contractor Default or within two years after the
reasonable promptness under the circumstances: Contractor ceased working or within two years after the
Page 2 of 3
'Surety refuses or fails to perform its obligations under this have been made, including allowance to the
Bond, whichever occurs first. If the provisions of this Contractor of any amounts received or to be received
' Paragraph are void or prohibited by law, the minimum by the Owner in settlement of insurance or other
period of limitation available to sureties as a defense in claims ;.for. damages to which the Contractor is
the jurisdiction of the suit shall be applicable. entitled, reduced by all valid and proper payments
made to or on behalf of the Contractor under the
10 Notice to the Surety, the Owner or the Contractor Construction Contract.
shall be mailed or delivered to the address shown on the
signature page. 12.2 Construction Contract: The agreement between
the Owner and the Contractor identified on the
11 When this Bond has been furnished to comply with signature page,including all Contract Documents and
a statutory or other legal requirement in the location changes thereto.
where the construction was to be performed,any provision
in this Bond conflicting with said statutory or legal 12.3 Contractor Default: Failure of the Contractor,
requirement shall be deemed deleted herefrom and which has neither been remedied nor waived, to
provisions conforming to such statutory or other legal perform or otherwise to comply with the terms of
requirement shall be deemed incorporated herein. The the Construction Contract.
intent is that this Bond shall be construed as a statutory
bond and not as a common law bond. 12.4 Owner Default: Failure of the Owner, which
has neither been remedied nor waived, to pay the
12 DEFINITIONS Contractor as required by the Construction Contract
or to perform and complete or comply with the
12.1 Balance of the contract Price: The total amount other terms thereof.
payable by the Owner to the Contractor under the
Construction Contract after all proper adjustments
MODIFICATIONS TO THIS BOND ARE AS FOLLOWS:
(Space is provided below for additional signatures of added parties, other than those appearing on the cover
page.)
CONTRACTOR AS PRINCIPAL SURETY
Company: (Corporate Seal) Company: (Corporate Seal)
Signature: Signature:
Name & Title: Name and Title:
Address: Address:
Page 3 of 3
-�nerican Home Assurance Company POWER OF ATTORNEY
National Union Fire Insurance Company of Pittsburgh,Pa.
Principal Bond Office:70 Pine Street,New York,N.Y.10270 No. 02-B-11048
KNOW ALL MEN BY THESE PRESENTS:
That American Home Assurance Company,a New York corporation,and National Union Fire Insurance Company of Pittsburgh,Pa.,a Pennsylvania corporation,
does each hereby appoint
---Geoffrey E.Heekin,Irmgard Dunne,Ellen L.Cope,Ann Formhals,Jo Ann T.Fick,Brenda Hockberger,Donna Ryan,Jennifer L.
Brown: of Chicago,Illinois---
its true and lawful Attorney(s)-in-Fact,with full authority to execute on its behalf bonds,undertakings,recognizances and other contracts of indemnity and writings
obligatory in the nature thereof,issued in the course of its business,and to bind the respective company thereby.
IN WITNESS WHEREOF,American Home Assurance Company and National Union Fire Insurance Company of Pittsburgh,Pa.have each executed
these presents
this 31da of u st .1992.
14
�M
Mark E.Reag nior Vice President
STATE OF NEW YORK }
COUNTY OF NEW YORK}se.
u
On this 31 day of August ,1992,
before me came the above named officer of American Home
As{urance Company and National Union Fire Insurance Company
of Pittsburgh,Pa.,to me personally known to be the individual and JOSf1N 9. NozjpW®
officer described herein, and acknowledged that he executed the NOWY Pubk• Shea o° NW Yoek
140- 911-140443v94
foregoing instrument and affixed the seals of said corporations Qwlii+ed in Wmamw
thereto by authority of his office. Uwe Ealib"" X
CERTIFICATE
Excerpts of Resolutions adopted by the Boards of Directors of American Home Assurance Company and National Union Fire Insurance Company of Pittsburgh,Pa.
on May 18,1976:
"RESOLVED,that the Chairman of the Board,the President,or any Vice President be,and hereby is,authorized to appoint Attorneys-in-Fact to represent and act
for and on behalf of the Company to execute bonds,undertakings,recognizances and other contracts of indemnity and writings obligatory in the nature thereof,and
to attach thereto the corporate seal of the Company,in the transaction of its surety business;
"RESOLVED,that the signatures and attestations of such officers and the seal of the Company may be affixed to any such Power of Attorney or to any certificate
relating thereto by facsimile,and any such Power of Attorney or certificate bearing such facsimile signatures or facsimile seal shall be valid and binding upon the
Company when so affixed with respect to any bond,undertaking,recognizance or other contract of indemnity or writing obligatory in the nature thereof;
"RESOLVED,that any such Attorney-in-Fact delivering a secretarial certification that the foregoing resolutions still be in effect may insert in such certification the
date thereof,said date to be not later than the date of delivery thereof by such Attorney-in-Fact."
I,Elizabeth M.Tuck,Secretary of American Home Assurance Company and of National Union Fire Insurance Company of Pittsburgh,Pa.do hereby certify that the
foregoing excerpts of Resolutions adopted by the Boards of Directors of these corporations, and the Powers of Attorney issued pursuant thereto, are true and
correct,and that both the Resolutions and the Powers of Attorney are in full force and effect.
IN WITNESS WHEREOF,1 have hereunto set my hand and affixed the facsimile seal of each corporation
this 21st day of December 19 92
' r
.ems
lizabeth M.Tuck, Secretary
State of Illinois
County of Cook
On this 21st day of December , 19 92 , before me personally appeared
Ann Formhals, , known to me to be the Attorney-in-fact of
National Union Fire Insurance company of Pittsburgh, Pa , the corporation that
executed the within instrument, and acknowledged to me that such corporation executed the
same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, at my
office in the aforesaid county, the day and year in this certificate first above written.
Lf "OFFICIAL SEAL"
Brenda D. Hockberger
otary Public, State of IllinoisoyCommission Expires 11/13/95