00600_BONDS.pdf

SECTION 00600

BONDS

ARTICLE TITLE PAGE

1 PERFORMANCE BOND 00600-1

2 LABOR AND MATERIAL PAYMENT BOND 00600-3

3 MAINTENANCE BOND 00600-5

BRIDGEPORT WPCA

Project Specifications (Rev. 7/24)

00600

PERFORMANCE BOND

KNOW ALL MEN BY THESE PRESENTS that __________________________

(here insert the name and address or legal title of the Contractor) as Principal, hereinafter called Contractor, and

(here insert the legal title of Surety) as Surety, hereinafter called Surety, are held and firmly bound

(here insert unto the name and address or legal title of the Owner) as Obligee, hereinafter called Owner, in the amount of __________________________ dollars $ _____________________________ for payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.

WHEREAS, Contractor has by written agreement dated _______________, 20__, entered into a Contract with Owner for SEWER REHABILITATION THROUGH PIPE REPLACEMENT in accordance with drawings and specifications which Contract is by referenced made a part hereof, and is hereinafter referred to as the Contract.

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly and faithfully perform said Contract, then this obligation shall be null and void; otherwise, it shall remain in full force and effect.

1. The Surety hereby waives notice of any alteration or extension of time made by

Owner.

2. Whenever Contractor shall be and declared by Owner to be in default under the Contract. the Owner having p error med Owner’s obligations there under, the Surety may promptly remedy the default, or shall promptly

a) Complete the Contract in accordance with its terms and conditions, or

b) Obtain bid or bids for submission to Owner for completing the Contract in accordance with its terms and Conditions, and up on determination by Owner and Surety of the lowest responsible bidder, arrange for a contract between such bidder and Owner, and make available as work progresses (even though there should be a default or a succession of defaults under the contract or contracts of completion arranged under this paragraph) sufficient funds to pay the costs of completion less the balance of the Contract price; but not exce8ding, including other costs and damages for which the Surety may be liable hereunder, the amount payable by Owner to Contractor under the Contract and any amendments thereto., less the amount properly paid by Owner to Contractor.

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3. Any suit under this bond must be instituted before the expiration of two (2) years from the date on which final payment under the Contract falls due.

4. No right or action shall accrue on this bond to or for the use of any person or corporation other than the Owner named herein or the heirs, executors, administrators or successors of Owner.

Signed and Sealed This ________ day of __________ 2024

PRINCIPAL TITLE

SURETY TITLE

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LABOR AND MATERIAL PAYMENT BOND

KNOW ALL MEN BV THESE PRESENTS that _______________________________________

(here insert the name or legal title and address of the Contractor) as Principal, hereinafter called Contractor, and

(here insert the legal title of Surety)

As Surety, hereinafter called Surety, are held and firmly bound unto

(here insert the name or legal title and address of the Owner) as Obligee, hereinafter called Owner, in the amount of _______________________ dollars ($ _______________), for payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.

VVHEREAS, Contractor has by written agreement dated ____________________ 202___, enter into a Contract with Owner for _________________________________ in accordance with drawings and specifications prepared by ________________________, which Contract is by reference made a part hereof and is hereinafter referred to as the Contract.

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly and faithfully perform said Contract, then this obligation shall be null and void; otherwise it shall remain in full force and effect.

1. A claimant is defined as one having a direct contract with the Principal or with a subcontractor of the Principal for labor, material, or both, use or reasonably required for use in the performance of the Contract, labor and material being construed to include that part of water, gas, power, light. heat, oil. gasoline. telephone service or rental of equipment directly applicable to the Contract.

2. The above named Principal and Surety jointly and severally agree with the Owner that every claimant as herein defined. who has not been paid in full before the expiration of period of ninety (90) days after the date of which the last of such claimant’s work or labor was done or performed, or materials were furnished by such claimant. prosecute the suit to final judgment for such sum or sums as may be justly due claimant and have execution thereon. The Owner shall not be liable for the payment of any costs of expenses of any such suit.

3. No suit or action shall be commenced hereunder by any claimant, 00600-3

a) Unless claimant, other than one having a direct contract with the Principal, shall be given written notice to any two of the following: The Principal, the Owner, or the Surety above named, within ninety (90) days after such claimant did or performed the last of the work or labor or furnished the last of the materials for which said claim is made, stating with substantial accuracy the amount furnished, or for whom the work or labor was done or performed. Such notice shall be served by mailing the same by registered mail or certified mail, postage prepaid, in an envelope addressed to the Principal, Owner or Surety, at any place where an office is regularly maintained for the transaction of business, or served in any manner in which legal process may be served in the state in which the aforesaid project is located, save that such service need not be made by a public officer.

b) After the expiration of one (1) year following the date on which Principal ceased work on said Contract., it being understood, however that if any limitation embodied in this bond is prohibited by law controlling the construction hereof, such limitation shall be deemed to be amended so as to be equal to the minimum period of limitation permitted by such law.

c) In other than a state court of competent jurisdiction in and for the county of other political subdivision of state in which the project, or any part thereof, is situated, or in the United States District Court for the district in which the project, or any part thereof, is situated, and not elsewhere.

d) The amount of this bond shall be reduced by and to the extent of any payment or payments made in good faith hereunder, inclusive of the payment by Surety of mechanic's liens which may be filed or recorded against said improvements, whether or not claim for the amount of the lien is presented under and against this bond.

SIGNED AND SEALED THIS _________day of _______, 2024.

_________________________(Seal) ________________

_________________________(Seal) ________________

00600-4

MAINTENANCE BOND

KNOW ALL MEN BV THESE PRESENTS: That we, (CONTRACTOR) a ________________________________________, hereinafter called (Corporation, Partnership or Individual)

"Contractor”, and ____________________________ of ______________________________, (Surety) (Location) State of _______________________________ here in after called the “Surety” are held and firmly bound unto ___________________________ of

(Owner) (City and State) hereinafter called "Owner” in the penal sum of ________________________ Dollars ($___________) in lawful money of the United States for the payment of which sum well and truly to be made, we bind ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by these presents.

THE CONDITION OF THIS OBLIGATION is such that Whereas, the Contractor entered into a certain Contract with the Owner, dated the ______________ day of ____________ 20___, a copy of which is hereto attached and made a part hereof for the construction of:

NOW, THEREFORE, the joint and several conditions of this Bond are such:

That if the above bonded Contractor shall remedy without cost to the said Owner any defects which may develop during a period of one (1) year from the date of completion and acceptance of the work performed under said Contract, provided such defects in the judgment of the Owner, are caused by defective or inferior materials or workmanship, then this part of this obligation shall be void; otherwise, it shall be remain in full force and effect.

The Contractor and the Surety agree that any alterations, changes or additions to the Contract, and/or any extensions of time given by the Owner for the performance of the Contractor and/or any act of forbearance of either the Contractor or the Owner toward the other with respect to the Contract Documents and the Contract and/or the reduction of any percentage to be retained by the Owner as permitted by the Contract Documents and by the Contract, shall not release, in any manner whatsoever the Contractor and the Surety, or either of them, or their heirs, executors, administrators, successors and assigns, from liability under this Bond, and the Surety, for value received does waive notice of any such alterations, changes, additions, extensions of time, acts of forbearance and/or reduction of retained percentage.

00600-5

IN WITNESS WHEREOF, this instrument is executed in six (6) counterparts, each one of which shall be deemed as original, this the _____________ day of ________________, 2024.

State of ___________________) )ss:

County of _________________)

_____________________________________ being duly sworn, deposes and days that he is the

_____________________________ of ___________________________________ (Given Title) (Organization) who signed the above Bond as Surety agent and that he is the duly authorized representative of the Surety and is in the capacity to obligate the Surety to this Bond.

Subscribed and sworn to before me this __________________ day of ______________________, 2024.

(Seal)

(Notary Public)

My commission expires ________________________

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Contractor ____________________________ (Contractor) By: _________________________ (Signature) (Name – Printed) (Seal) (Title)

Attest: ________________________ (Signature) (Name – Printed)

(Title)

Surety ____________________________ (Surety) By: _________________________ (Signature) (Name – Printed) (Seal) (Title) Attest: ________________________ (Signature) (Name – Printed)

(Title)

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