HomeMy WebLinkAboutPerformance Bond - LaFever Electric and ContinentalCasualty Co - $33,800 - 2010 - r
PERFORMANCE BOND
City of Carmel
Bond No . 929 512 518
Instructions:
Successful Bidder must use this form or other form containing the same material conditions and
provisions as approved in advance by OWNER.
Date of Bond must not be prior to date of Contract. If CONTRACTOR is a Partnership, all
partners should execute bond
Surety company executing this bond shall appear on the most current list of"Surety Companies
Acceptable on Federal Bonds," as specified in the U.S. Treasury Department Circular 570, as
amended and be authorized to transact business in the State of Indiana.
ICNOW ALL MEN BY THESE PRESENTS: that
"CONTRACTOR":
LaFever Electric, Inc .
and
"Surety": [Name] Continental Casualty Company
[Address] 333 S Wabash Ave .
Chicago, IL 60604
a corporation chartered and existing under the laws of the State of
Illinois , and authorized to do business in the State of Indiana,
are held and firmly bound unto the City of Carmel, Indiana hereinafter called OWNER, in the
penal sum of Thirty-Three Thousand Eight Hundred Dollars, ($33,800.00 ) in
lawful money of the United States, for the payment of which sum well and truly to be made,
together with interest at the maximum legal rate from date of demand and any attorney fees and
court costs incurred by Obligee to enforce this instrument, we bind ourselves, successors, and
assigns,jointly and severally,firmly by these presents.
WHEREAS the CONTRACTOR has entered into a certain Agreement with the OWNER, dated
as of the z4th day of August , 20 10 , by which CONTRACTOR has
agreed to perform and furnish certain Work for or in furtherance of construction of public
improvements described generally as(fill in Project Name and Description Below):
PARCEL 47—ARTS DISTRICT LOFT -SERVICE PACKAGE
The general scope of Work consists of street cutting, installation of conduits, backfilling of
street cut, electrical equipment, and conduit.
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which Agreement, and the"Contract Documents"as referred to therein,are hereby incorporated
herein by reference;
NOW, THEREFORE, the conditions of this obligation are such that if the CONTRACTOR shall
well, truly and faithfully perform his duties, all the undertakings, covenants, tee i s and
conditions of said Agreement whether during the original term thereof, and any ex-tensions
thereof which may be granted by the OWNER, with or without notice to the Surety and during
any period of guaranty or warranty provided therein or arising thereunder, and if
CONTRACTOR shall satisfy all claims and demands incurred under such Contract, and shall
fully indemnify and save harmless the OWNER from all costs and damages which he may suffer
by reason of failure to do so, and shall reimburse and repay the OWNER all outlay and expense
which the OWNER may incur in making good any default, then this obligation shall be void;
otherwise to remain in full force and effect.
PROVIDED,FURTHER,that the said Surety,for value received,hereby stipulates and agrees:
1. that no defect or irregularity in the Contract or in the proceedings preliminary to the
letting of the Contract will operate to release or discharge Surety;
2. that no change, omission, extension of time, alteration or addition to the terms of the
Agreement,Contract Documents or to any Work to be furnished thereunder,and no delay
by the OWNER in enforcement of the Agreement or this bond shall in any way affect its
obligation on this bond, and it does hereby waive notice of any such change,extension of
time, alteration or addition to the terms of the Agreement, Contract Documents or to the
Work; 1
3. that no final settlement between the OWNER and the CONTRACTOR shall abridge any
right of the OWNER hereunder as to any claim that may remain unsatisfied; and
that this Performance Bond and Surety shall not be released until one (1) year after the
OWNER's final settlement with the CONTRACTOR.
IN WITNESS WHEREOF, this instrument is executed in 1 (number) counterparts, each
one of which shall be deemed an original,this the 17 t hday of September ,20 10 .
CONTRACTOR: [name] LaFever Electric, Inc .
By: l V.0 r, >,L Cheryl LaFever, President
[signature] [printed name]
yrfis • r\
. Secretary
signa ]" leen . Marvel
w ► : „„il Continental Casualty Company
1 � L•.. _,; Attomey-in-fact
[signature]
Sheree Hsieh 333 S Wabash Ave .
[printed name] [address]
Chicago, IL 60604
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