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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