43-Doc 00 61 13.13 - PERFORMANCE BOND.pdf

EJCDC C-610 Performance Bond (Modified) Prepared by the Engineers Joint Contract Documents Committee.

PERFORMANCE BOND

00 61 13.13-1

DOCUMENT 00 61 13.13

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 Address of Principal Place of Business):

OWNER (Name and Address):

MIRIA

1025 Horsham Road Horsham, PA 19044

CONTRACT

Date of Award:

Amount:

Description (Name and Location): Contract 2025-01189.01: 124 Horsham Road Demolition

BOND

Bond Number:

Date (Not earlier than Contract Date of Award):

Amount:

Modifications to this Bond Form:

Surety and Contractor, intending to be legally bound hereby, subject to the terms set forth below, do each cause this Performance Bond to be duly executed by an authorized officer, agent, or representative.

CONTRACTOR AS PRINCIPAL SURETY

(Seal) (Seal)

Contractor's Name and Corporate Seal Surety’s Name and Corporate Seal

By: By:

Signature Signature (Attach Power of Attorney)

Print Name Print Name

Title Title

Attest: Attest:

Signature Signature

Title Title

Note: Provide execution by additional parties, such as joint venturers, if necessary.

EJCDC C-610 Performance Bond (Modified) Prepared by the Engineers Joint Contract Documents Committee.

PERFORMANCE BOND

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Contractor and Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors, and assigns to Owner for the performance of the Contract, which is incorporated herein by reference.

1. If Contractor performs the Contract, Surety and Contractor have no obligation under this Bond.

2. Surety’s obligation under this Bond shall arise after Owner has declared a Contractor Default and formally terminated Contractor’s right to complete the Contract. Such Contractor Default shall not be declared earlier than 10 days after Contractor and Surety have been given notice of Contractor’s default under the terms of the Contract

3. When Owner has satisfied the conditions of Paragraph 2, and in the event that Owner has not consented to permit Contractor to complete the Contract, Surety shall promptly pay to Owner, within twenty (20) days from the date of written notice of default under paragraph 2, the entire principal amount of the bond, less any amount previously authorized to be paid to Contractor due to completion of work under the Contract. Owner agrees to place the proceeds of this bond into a separate account and to use such funds to complete the Contract work.

4. If Surety does not proceed as provided in Paragraph 3 with reasonable promptness, Surety shall be deemed to be in default on this Bond, and Owner shall be entitled to enforce any remedy available to Owner. Surety expressly agrees that its liability under this Bond shall not be in any way discharged or impaired by any alleged violation of the Contract by Owner, and Surety shall have no defense to payment under this Bond for any reason other than a lack of Notice of Default under Paragraph 2.

5. Surety shall not be liable to Owner or others for obligations of Contractor that are unrelated to the Contract, and the Balance of the Contract Price shall not be reduced or set off on account of any such unrelated obligations. No right of action shall accrue on this Bond to any person or entity other than Owner or its heirs, executors, administrators, or successors.

6. Surety hereby waives notice of any change, including changes of time, to Contract or to related subcontracts, purchase orders, and other obligations.

7. Any proceeding, legal or equitable, under this Bond may be instituted in any court of competent jurisdiction in the location in which the Work or part of the Work is located, and shall be instituted within two years after Contractor Default or within two years after Contractor ceased working or within two years after Surety refuses or fails to perform its obligations under this Bond, whichever occurs first. If the provisions of this paragraph are void or prohibited by law, the minimum period of limitation available to sureties as a defense in the jurisdiction of the suit shall be applicable.

8. Notice to Surety, Owner, or Contractor shall be mailed or delivered to the address shown on the signature page.

9. When this Bond has been furnished to comply with a statutory requirement in the location where the Contract was to be performed, any provision in this Bond conflicting with said statutory requirement shall be deemed deleted herefrom and provisions conforming to such statutory requirement shall be deemed incorporated herein. The intent is that this Bond shall be construed as a statutory bond and not as a common law bond.

10. Definitions.

10.1 Balance of the Contract Price: The total amount payable by Owner to Contractor under the Contract after all proper adjustments have been made, including allowance to Contractor of any amounts received or to be received by Owner in settlement of insurance or other Claims for damages to which Contractor is entitled, reduced by all valid and proper payments made to or on behalf of Contractor under the Contract.

10.2 Contract: The agreement between Owner and Contractor identified on the signature page, including all Contract Documents and changes thereto.

10.3 Contractor Default: Failure of Contractor, which has neither been remedied nor waived, to perform or otherwise to comply with the terms of the Contract.

11. 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.

FOR INFORMATION ONLY – (Name, Address and Telephone) Surety Agency or Broker:

Owner’s Representative (Engineer or other): Gilmore & Associates, Inc.

65 E. Butler Avenue, Suite 100 New Britain, PA 18901 215-345-4330

END OF DOCUMENT