HomeMy WebLinkAboutPerformance Bond - Yardberry - $112,323 THE AMERICAN INSTITUTE OF ARCHITECTS
Bond No. INC 44694
44"
4"
A/A Document A312
Performance Bond
Any singular reference to Contractor,Surety,Owner or other party shall be considered plural where applicable.
CONTRACTOR(Name and Address): SURETY(Name and Principal Place of Business):
Yardberry Landscape Company dba Yardberry Merchants Bonding Company(Mutual)
Landscaping&Excavating 2100 Fleur Drive
9940 South 1000 West Des Moines IA 50321-1158
Anderson,IN 46017
OWNER(Name and Address):
City of Carmel
30 West Main Street, Suite 220
Carmel, Indiana
CONTSTRUCTION CONTRACT
Date: January 25,2010
Amount: $112,323.00
Description(Name and Location): Parcel 47-Storm Drainage and Site Utilities
BOND
Date(Not earlier than Construction Contract Date): February 5,2010
Amount: $112,323.00
Modifications to this Bond: ® None L7 See Page 3
CONTRACTOR AS PRINCIPAL SURETY
Company: (Corporate Seal) Company: (Corporate Seal)
Yardberry Landscape Company dba Yardberry Merchants Bonding Company(Mutual)
Landscaping& cay.t;p.%
Signature:
Signature: .'l�/1 . ._ 2
./ R !�� . /_ . -U31� ad
Name and Title. imothy C.Yarberry Name and Title: N ICY E STOLL
President Attorney-In-Fact
(Any additional signatures appear on page 3)
(FOR INFORMATION ONLY—Name,Address and Telephone)
AGENT or BROKER: OWNER'S REPRESENTATIVE(Architect,Engineer or other
Party):
THE LON BROWN COMPANY INC
2009 EAST 10TH STREET
ANDERSON,M 46012 •
765-643-5555
AM DOCUMENT A312• PERFORMANCE BOND AND PAYMENT BOND• DECEMBER 1984 ED. • AIA
THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVE., N.W., WASHINGTON, D.C. 20006 A312-1984 1
1 The Contractor and the Surety,jointly and severally, bind .1 After investigation, determine the amount for
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 therefore 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, the Owner citing reasons therefore.
Surety and the Contractor shall have no obligation under 5 If the surety does not proceed as provided in Para-graph
this Bond, except to participate in conferences as provided 4 with reasonable promptness,the Surety shall be deemed
in Subparagraph 3.1. to be in default on this Bond fifteen days after receipt of
an additional written notice from the Owner to the Surety
3 If there is no Owner Default, the Surety's obligation demanding that the Surety perform its obligations under this
under this Bond shall arise after: Bond, and the Owner shall be entitled to enforce any
3.1 The Owner has notified the Contractor and the remedy available to the Owner. If the Surety proceeds as
Surety at its address described in Paragraph 10 provided in Subparagraph 4.4, and the Owner refuses the
below that the Owner is considering declaring a payment tendered or the Surety had denied liability, in
Contractor Default and has requested and attempted whole or in part, without further notice the Owner shall be
to arrange a conference with the Contractor and the entitled to enforce any remedy available to the Owner.
Surety to be held not later than fifteen days after
receipt of such notice to discuss methods of per- 6 After the Owner has terminated the Contractor's right to
forming the Construction Contract. If the Owner, the complete the Construction Contract, and if the Surety
Contractor and the Surety agree, the Contractor shall elects to act under Subparagraph 4.1,4.2, or 4.3 above,
be allowed a reasonable time to perform the then the responsibilities of the Surety to the Owner shall
Construction Contract, but such an agreement shall not be greater than those of the Contractor under the
not waive the Owner's right, if any, subsequently to Construction Contract, and the responsibilities of the
declare a Contractor Default; and Owner to the Surety shall not be greater than those of the
3.2 The Owner has declared a Contractor Default and Owner under the Construction Contract. To the limit of the
formally terminated the Contractor's right to complete amount of this Bond, but subject to commitment by the
the contract. Such Contractor Default shall not be Owner of the Balance of the Contract Price to mitigation of
declared earlier than twenty days after the Contractor costs and damages on the Construction Contract, the
and the Surety have received notice as provided in Surety is obligated without duplication for
Subparagraph 3.1; and 6.1 The responsibilities of the Contractor for cor-
3.3 The Owner has agreed to pay the Balance of the rection of defective work and completion of the Con-
Contract Price to the Surety in accordance with the struction Contract;
terms of the Construction Contract or to a contractor
selected to perform the Construction Contract in 6.2 Additional legal, design professional and delay
accordance with the terms of the contract with the costs resulting from the Contractor's Default, and
Owner. resulting from the actions or failure to act of the
4 When the Owner has satisfied the conditions of Surety under Paragraph 4; and
Paragraph 3,the Surety shall promptly and at the Surety's 6.3 Liquidated damages, or if no liquidated damages
expense take one of the following actions: are specified in the Construction Contract, actual
damages caused by delayed performance or non-
4.1 Arrange for the Contractor, with consent of the performance of the Contractor.
Owner, to perform and complete the Construction
Contract;or 7 The Surety shall not be liable to the Owner or others for
obligations of the Contractor that are unrelated to the
4.2 Undertake to perform and complete the Con- Construction Contract, and the Balance of the Contract
struction Contract itself, through its agents or through; Price shall not be reduced or set off on account of any
independent contractors;or such unrelated obligations. No right of action shall accrue
4.3 Obtain bids or negotiated proposals from qualified on this Bond to any person or entity other than the Owner
contractors acceptable to the Owner for a contract for or its heirs, executors, administrators or successors.
performance and completion of the Construction 8 The Surety hereby waives notice of any change, inclu-
Contract, arrange for a contract to be prepared for ding changes of time, to the Construction Contract or to
execution by the Owner and the contractor selected related subcontracts, purchase orders and other obli-
with the Owner's concurrence, to be secured with gations.
performance and payment bonds executed by a
qualified surety equivalent to the bonds issued on the 9 Any proceeding, legal or equitable, under this Bond may
Construction Contract, and pay to the Owner the be instituted in any court of competent jurisdiction in the
amount of damages as described in Paragraph 6 in location in which the work or part of the work is located and
excess of the Balance of the Contract Price incurred shall be instituted within two years after Contractor Default
by the Owner resulting from the Contractor's default;or or within two years after the Contractor ceased working
4.4 Waive its right to perform and complete, arrange or within two years after the Surety refuses or fails to
perform its obligations under this Bond, whichever occurs
for completion, or obtain a new contractor and with first. If the provisions of this Paragraph are void or
reasonable promptness under the circumstances: prohibited by law,the minimum period of limitation avail-
AIA DOCUMENT A312•PERFORMANCE BOND AND PAYMENT BOND•DECEMBER 1984 ED.•AIA A312-1984 2
THE AMERICAN INSTITUTE OF ARCHITECHTS,1735 NEW YORK AVE.,N.W. WASHINGTON,D.C. 20006
r • .
.
able to sureties as a defense in the jurisdiction of the suit have been made including allowance to the
• shall be applicable. Contractor of any amounts received or to be
received by the Owner in settlement of insurance or
10 Notice to the Surety,the Owner or the Contractor shall other claims for damages to which the Contractor is
be mailed or delivered to the address shown on the entitled, reduced by all valid and proper payments
signature page, made to or on be- half of the Contractor under the
Construction Contract.
11 When this Bond has been furnished to comply with a 12.2 Construction Contract: The agreement between
statutory or other legal requirement in the location where the Owner and the Contractor identified on the sig--
the construction was to be performed, any provision in nature page, including all Contract Documents and
this Bond conflicting with said statutory or legal changes thereto.
requirement shall be deemed deleted herefrom and
provisions conforming to such statutory or other legal 12.3 Contractor Default: Failure of the Contractor,
requirement shall be deemed incorporated herein. The which has neither been remedied nor waived, to
intent is that this Bond shall be construed as a statutory perform or otherwise to comply with the terms of the
bond and not as a common law bond. Construction Contract.
12 DEFINITIONS 12.4 Owner Default: Failure of the Owner, which has
neither been remedied nor waived, to pay the Con-
12.1 Balance of the Contract Price: The total amount tractor as required by the Construction Contract or to
payable by the Owner to the Contractor under the perform and complete or comply with the other terms
Construction Contract after all proper adjustments thereof.
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: Company:
(Corporate Seal) (Corporate Seal)
Signature: Signature:
Name and Title: Name and Title:
Address: Address:
AIA DOCUMENT A312•PERFORMANCE BOND AND PAYMENT BOND•DECEMBER 1984 ED.•AIA®
A312-1984 3
THE AMERICAN INSTITUTE OF ARCHITECTS,1735 NEW YORK AVE.,N.W. WASHINGTON,D.C. 20006