11-ATTACHMENT - MAINTENANCE BOND.pdf

MAINTENANCE BOND

KNOW ALL MEN BY THESE PRESENTS, that we, _________________________________________

_____________________________________________ hereinafter called the PRINCIPAL, and

(CONTRACTOR)

_____________________________ hereinafter called the SURETY, a corporation organized and existing

(SURETY)

under laws of the ______________________ of ______________________________, are held and firmly bound unto ________________________, hereinafter called the OBLIGEE, as hereinafter set (OWNER) forth, in the full and just sum of_________________________________ Dollars ($_________________), lawful money of the United States of America, for the payment of which we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents, WITNESSETH THAT:

Whereas, the PRINCIPAL heretofore submitted to the OBLIGEE a certain PROPOSAL, dated _______, 20___ to perform the WORK for the OBLIGEE, in connection with the construction of_______________ ___________________________________________________________________ as set forth in the

CONTRACT

DOCUMENTS as prepared by the CITY OF READING.

Now, therefore, the condition of this BOND shall be such that: If the PRINCIPAL shall remedy, without cost to the OBLIGEE, all defects which may develop during the period of one (1) year from the date of completion by the PRINCIPAL and final acceptance of the OBLIGEE of the WORK performed in accordance with the CONTRACT DOCUMENTS, which defects, in the sole judgment of the OBLIGEE, shall be caused by or shall result from defective or inferior materials or workmanship, and if the PRINCIPAL shall satisfy all claims and demands arising from or related to such defects or growing out of such defects. and if the PRINCIPAL shall indemnify completely and shall save harmless the OBLIGEE from any and all costs and damages which the OBLIGEE may sustain or suffer by reason of the failure so to do; and if the PRINCIPAL shall reimburse completely and shall pay to the OBLIGEE any and all costs and expenses which the OBLIGEE may incur by reason of anv such default or failure of the PRINCIPAL, then this BOND shall be void; otherwise, this BOND shall be and shall remain in full force and effect.

The PRINCIPAL and the SURETY agree that any alterations, changes and/or additions to the CONTRACT DOCUMENTS, and/or any alterations, changes and/or additions to the WORK to be performed in accordance with the CONTRACT DOCUMENTS, and/or any alterations, changes and/or additions to the CONTRACT, and/or any giving by the OBLIGEE of any extensions of time for the performance of the WORK in accordance with the CONTRACT DOCUMENTS, and/or any act of forbearance of either the PRINCIPAL or the OBLIGEE toward the other with respect to the CONTRACT DOCUMENTS, and/or the reduction of any percentage to be retained by the OBLIGEE as permitted by the CONTRACT DOCUMENTS, shall not release, in any manner whatsoever, the PRINCIPAL and the SURETY, or either of them, or their heirs, executors, administrators, successors and assigns from liability and obligations 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.

In Witness Whereof, the PRINCIPAL and the SURETY cause this BOND to be signed, sealed and delivered this ___________day of __________________, 20____.

(INDIVIDUAL PRINCIPAL)

Gasoline via Fuel Card.

__________________________________ (Seal) (Signature of Individual)

Witness:

Trading and Doing Business as:

(PARTNERSHIP PRINCIPAL)

___________________________________ (Seal) (Name of Partnership)

Witness:

____________________________ By:________________________________ (Seal) (Partner)

Witness:

____________________________ By:________________________________ (Seal) (Partner)

Gasoline via Fuel Card.

(CORPORATION PRINCIPAL)

(Name of Corporation)

By:_____________________________________ (Vice) President

Attest:

(Assistant Secretary)

(Corporate Seal)

(OR, IF APPROPRIATE)

(Name of Corporation)

By:_____________________________________ (Authorized Representative)

(CORPORATION SURETY)

(Name of Corporation)

By:_________________________________ (Attorney-In-Fact)

(Corporate Seal)

** Attach an appropriate Power of Attorney, valid and in effect as of the date of this affidavit, evidencing the authority of the Attorney-In-Fact to act in behalf of the corporation.