13-Contract Bond.pdf

H-1

(TO BE COMPLETED AFTER AWARD)

(By Bonding Company)

H. CONTRACT BOND*

KNOW ALL MEN BY THESE PRESENTS, that, we, the undersigned, _______________________as Principal, and , a corporation organized and existing under the laws of the State of , as surety, are held and firmly bound unto the hereinafter Owner) as hereinafter set forth, in the full and just several sums of:

(a)

(One hundred percent (100%) of the amount of the contract)

Dollars ($ ), for faithful PERFORMANCE of the Contract as designated hereinafter, in Paragraph "A"; and

(b)

(One hundred percent (100%) of the amount of the contract)

Dollars ($ ), for payment of LABOR AND MATERIALS as designated hereinafter, in Paragraph "B"; and

(c)

(___________________ (____%) of the amount of the contract)

(see pg. E-1)

Dollars ($ ), for MAINTENANCE as designated hereinafter, in Paragraph "C"; lawful money of the United States of America, to be paid to the said Owner, or its agents, to which payment well and truly to be made and done, we bind ourselves, our heirs, executors, administrators and successors, jointly and severally, firmly by these presents.

Sealed with our respective seals and dates this ___________________________ day of

___________________________, 20 .

WHEREAS, the above bounden Principal has entered into a Contract with the said Owner, dated the day of , 20 , for ___________________________________________ upon certain terms and conditions in said Contract more particularly mentioned; and;

* Only bonds from companies licensed to do business in the State where the Owner is located will be accepted and the bond will so state same.

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WHEREAS, it is one of the conditions of the award of the Owner that these presents be executed.

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

A. That is the above bounden principal as Contractor will well and faithfully do and perform the things agreed by him to be done and performed according to the terms of said Contract and all relating documents thereto and made a part of said contract, including the plans and specifications therein referred to and made part thereof, and such alterations as may be made in said plans and specifications as therein provided, and which are hereby made part of this bond the same as though they were set forth herein, and will indemnify and save harmless the said Owner and all of its officers, agents and employees from any expenses incurred through the failure of said Contractor to complete the work as specified and for any damages growing out of the manner of performance of said Contract by said Contractor or his subcontractors, or his or their agents or servants, including patent, trademark and copyright infringements, then this part of this obligation will be void; otherwise it will be and remain in full force and effect, as though it was provided for and in compliance with the Act No. 385 of the 1967 Session of the Legislature.

B. That if the above bounden Principal will and will promptly pay or cause to be paid all sums of money which may be due any person, co-partnership, association or corporation for all material furnished and labor supplied or performed in the prosecution of the work, whether or not the said material or labor entered into and become component parts of the work or improvement contemplated, and also including public utility services, and reasonable rentals of equipment, but only for periods when the equipment rented is actually used at the site, then this part of this obligation will be void; otherwise, it will be and remain in full force and effect, as though it were provided for and in compliance with the Act No. 385 of the 1967 Session of the Pennsylvania Legislature.

C. That if the above bounden Principal will remedy without cost to the said Owner any defects which may develop during a period of two (2) years from the date of completion and acceptance of the work performed under said contract, provided such defects, in the judgment of the Owner or its successor having jurisdiction in the premises, are caused by defective or inferior materials or workmanship, then this part of this obligation will be void; otherwise it will be and remain in full force and effect.

It is further agreed that any alterations which may be made in the terms of the Contract or in the work to be done or materials to be furnished or labor to be supplied or performed under it or the giving by the Owner of an extension of time for the performance of the Contract or any other forbearance on the part of either the Owner or the Principal to the other will not in any way release the Principal and the Surety or Sureties, or either or any of them, their heirs, executors, administrators, successors or assigns, from their liability hereunder, notice to the Surety or Sureties of any such alterations, extension or forbearance being hereby waived.

The Principal and Surety hereby jointly and severally agree with the obligee herein that every person, co-person, co-partner, association or corporation who, whether as subcontractor or otherwise has furnished material or supplied or performed labor in prosecution of the work as above provided and who has not been paid therefor, within 90 days after the day on which any such claimant performed that last of such labor or furnished the last of the materials for which he claims payment may sue in assumpsit on this bond in his own name and prosecute the same to final judgment for such sum or sums as may be justly due him, them or it and have execution on the judgment; provided, however, that the Owner will not be liable for the payment of any costs or expense of any such suit.

Recovery by any person, co-partnership, association or corporation who, whether as subcontractor otherwise, has furnished material or supplied or performed labor in prosecution of the work as above provided and has not been paid therefor, within 90 days after the day on which any such claimant performed the last of such labor or furnished the last of the materials for which he claims payment may sue in assumpsit on this bond in his own name and prosecute the same to final judgment for such sum or sums as may be justly due him, them

H-3 or it and have execution on the judgment provided, however, that the Owner will not be liable for the payment of any costs or expenses of any such suit.

The right of a claimant who is a subcontractor of a subcontractor of the Principal who has no contractual relationship express or implied, with the Principal may bring an action on this bond, as herein provided, only if he has given written notice in accordance with Act 385 of the 1967 Session of the Pennsylvania Legislature to the Principal within 90 days from the date on which the claimant performed the last of the labor or furnished the last of the materials for which he claims payment, stating with substantial accuracy the amount claimed and the name of the person for whom the work was performed or to whom the material was furnished.

Recovery by any person, co-partnership, association or corporation hereunder will be subject to the provisions of the Act No. 385 of the 1967 Session of the Pennsylvania Legislature to the same extent as if said provisions were fully incorporated in the bond.

It is further agreed that in accordance with Section 6 Act No. 385 of 1967 Session of the Pennsylvania Legislature, that the Owner will supply a certified copy of his Bond and the Contract set forth above, to any person filing an affidavit that he has a claim hereunder, is a defendant on a claim hereunder, or is the surety, upon payment of a certification fee to the Owner. Any action commenced on or arising from this Bond will not be a bar to any subsequent actions that may arise as a result of the Contract set forth above, or otherwise.

IN WITNESS WHEREOF, the said Principal and Surety have duly executed this bond under seal the day and year first above written.

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WITNESS:

By: (SEAL) (Principal-Individual)

(Attorney-in-fact)

(Principal-Partnership)

WITNESS:

(SEAL)

(SEAL)

(SEAL)

(Surety)

By:

(Attorney-in-fact)

ATTEST:

By:

(Principal-Corporation)

(Secretary) By:

(President)

(CORPORATE SEAL)

ATTEST:

(Surety) (Attorney-in-fact)