10-Doc 00 61 19 - Maintenance Bond.pdf
PDF 86 KB Posted
- Attached to
- 2201256.01 - Whistlestop Park
- Solicitation number
- US.160528
- Issued by
- Montgomery County, Pennsylvania
About this file
This is a Maintenance Bond document for Montgomery Township's Whistlestop Park project (Contract 2022-01256.01) located in Montgomery County, Pennsylvania. The maintenance bond serves as a guarantee that the contractor will repair any defects in materials or workmanship that develop during the eighteen-month maintenance period following final completion and acceptance of work. The bond amount is established at 15% of the contract agreement price. The bond obligates the contractor to either repair defects at its own expense or reimburse the obligee for any losses sustained due to the contractor's failure to remedy identified issues. Any legal action filed under this bond must be commenced in the Montgomery County Court of Common Pleas or the United States District Court for the Eastern District of Pennsylvania, representing a non-negotiable jurisdictional requirement.
The bond document is a standard form requiring signatures from both the contractor (as principal) and the surety company, along with appropriate corporate seals and identification of signatories by name and title. The document notes that if any person other than the President or Vice President of the Surety Company executes the bond, a current and effective certificate demonstrating their authority to bind the Surety Company must accompany the submission. This maintenance bond requirement aligns with the broader Whistlestop Park project specifications, which include rehabilitation of a softball field, construction of playground perimeter fencing, pickleball courts, a loop trail, and stormwater management features, with work subject to Pennsylvania Prevailing Wage Act requirements.
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Text version
MAINTENANCE BOND
00 61 19-1
DOCUMENT 00 61 19
KNOW ALL MEN BY THESE PRESENTS, that We, hereinafter called the "Principal" and hereinafter called the "Surety" are held and firmly bound unto hereinafter called the “Obligee” in the sum of Dollars ($ ), the payment of which sum, well and truly to be made, we, the said Principal and the said Surety, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.
WHEREAS, the said Principal has heretofore entered into an
Agreement with said Obligee dated________________________, 20___ for Contract 2022-01256.01:
Montgomery Township – Whistlestop Park, and;
WHEREAS, the said Agreement provides that the said Principal is required to furnish the said Obligee with a Maintenance Bond for 15% of the Agreement price, indemnifying the said Obligee against defects in materials or workmanship for a period of eighteen (18) month(s) after final completion and acceptance of the Work.
NOW, THEREFORE, the condition of this obligation is such, that if the said Principal shall faithfully carry out and perform the said guarantee, and shall, on due notice, repair and make good at its own expense any and all defects in materials or workmanship in the said work which may develop during the said maintenance period or shall pay over, make good and reimburse to the said Obligee all loss and damage which said Obligee may sustain by reason of failure or default of said Principal so to do, then this obligation shall be null and void; otherwise shall remain in full force and effect.
00 61 19-2
Any action filed under the bond must be commenced in the Montgomery County Court of Common Pleas or the United States District Court for the Eastern District of Pennsylvania. This is a legal requirement and not subject to negotiation or change.
Signed and sealed this___________ day of__________________, 20___.
CONTRACTOR AS PRINCIPAL SURETY
Company: Company:
Signature: Signature:
Name and Title: Name and Title:
(Corp. Seal) (Corp. Seal)
NOTE: This statement, if executed by any person other than the President or Vice President of the
Surety Company, must be accompanied by a current and effective certificate showing authority conferred upon the person so signing to execute such instruments on behalf of the Surety Company represented.
END OF DOCUMENT
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