Bid Bonds - RFB-7547.pdf

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FORM OF BID BOND

City of Yonkers Yonkers City Hall Bureau of Purchasing Yonkers, New York 10701

BID NO.: RFB-7547

KNOW ALL MEN BY THESE PRESENTS, that we, the undersigned

(Bidder’s Legal Title) as principal and __________________________________________________________ (Surety’s Legal Title) as Surety, are hereby held and firmly bound unto the City of Yonkers, Yonkers City Hall, Yonkers, N.Y. in the penal sum of

_____________________________________________________________________Dollars or in the full and just sum of the difference between the total bid of the Principal and the total bid of the Bidder submitting the next lowest bid, whichever sum shall be higher, for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors and assigns.

Executed this ______ day of ____________________________________, 20_____.

The condition of the above obligation is such that whereas the Principal has submitted to the City of Yonkers, Yonkers City Hall, Yonkers, N. Y., a certain bid, attached hereto and made a part hereof to enter into a Contract in writing for the construction of_________________________________________________________________ located at __________________________________________________________.

NOW, THEREFORE,

(A) If said bid shall be rejected or in the alternate

(B) If said bid shall be accepted and the Principal shall furnish a bond for the faithful performance of said Contract by the Principal, and for the payment of said persons performing labor or furnishing materials in connection therewith, and shall in all other respects perform the agreement created by the acceptance of said bid, then this obligation shall be void, otherwise the same shall remain in force and effect; it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event exceed the penal amount of this obligation as herein stated.

(C) The Surety, for value received, hereby stipulates and agrees that the obligations of said

Surety and said Surety’s bond in no way shall be impaired or affected by any extension of

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(D) In the event that the Bid of the Principal shall be accepted and the Contract be awarded to him or her, the Surety hereunder agrees subject only to the payment by the Principal of the premium therefore, if requested by the City, to write the Performance and Payment Bonds in the form set forth in Contract Documents herein.

IN THE WITNESS WHEREOF, the Principal and the Surety have hereunto set their hands and seals and such of them are corporations have caused their corporate seals to be hereto affixed and these presents to be signed by the proper officers, the day and year first set forth above.

(SEAL) ___________________________________

Principal

Surety

(SEAL) By: ________________________________

(BID BOND – Bid # RFB-7547)

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ACKNOWLEDGEMENT OF CONTRACTOR, IF A CORPORATION

STATE OF ____________ )

CITY OF ____________ ) ss:

On the___________, day of _______________ in the year 20____ before me personally came

____________________________to me known (or proved to me on the basis of satisfactory evidence), who, being by me duly sworn, did depose and say that he/she resides at

________________________________________________________, that he/she is the

_____________________________________of _________________________________, the corporation described in and which executed the above instrument, and that he/she signed his/her name thereto by order of the Board of

Directors of said corporation.

Notary Public

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ACKNOWLEDGEMENT OF CONTRACTOR, IF A PARTNERSHIP

STATE OF _________ )

CITY OF _________ ) ss:

On the _______ day of _______________ in the year 20___ , before me personally came

____________________________, to me known (or proved to me on the basis of satisfactory evidence), and known to me to be a member of firm _________________________; described in and who executed the foregoing instrument; and he/she duly acknowledged to me that he/she executed the same for and in behalf of said firm for the uses and purpose mentioned therein.

(BID BOND – Bid #)

ACKNOWLEDGEMENT OF CONTRACTOR, IF AN INDIVIDUAL

STATE OF ___________ )

CITY OF ___________ ) ss:

On the _________ day of _______________________ in the year 20___ , before me personally came

____________________________________________, to me known (or proved to me on the basis of satisfactory evidence) and known to me to be the person described in and who executed the foregoing instrument and he/she duly acknowledged that he/she executed the same.

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ATTORNEY IN FACT ACKNOWLEDGEMENT

On the ___________day of ___________________in the year of 20___, before me personally came

________________________________________ the attorney in fact of

________________________________________________ the Company named in the foregoing contract, to me known to be the individual described in and who, as such attorney, executed the foregoing contract, and acknowledged that he/she executed the same as the Act and deed of the said party or parties; therein described as

Consultant, and for the purpose therein mentioned, by virtue of a power of attorney duly executed and acknowledged by the said party or parties, bearing date the ______________day of ______________ 20__; that said powers of attorney is still in full force.

ACKNOWLEDGEMENT OF SURETY

CITY ____________ ) ss:

On this _____ day of __________________ in the year 20___, before me personally came ______________________________________________ to me known, who, being by me duly sworn, did depose and say that he/she resides at ___________________________________________________________,that he/she is the _______________________________________ of ___________________ __________________, the corporation described in and which executed the above instrument; and that he/she signed his/her name thereto by order of the Board of Directors of said corporation.

NOTARY PUBLIC

(BID BOND – Bid # RFB-7547

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PERFORMANCE BOND

BID NO.: RFB-7547

KNOW ALL MEN BY THESE PRESENTS;

That ___________________________________________________________________ (Here insert the name and address or legal title of the contractor) as Principal, (hereinafter called “Principal”), and ______________________________

(Here insert the legal title of Surety) as Surety, hereinafter called Surety, are held and firmly bound unto the City of Yonkers, City Hall, Yonkers, New York 10701, as obligee, (hereinafter called the “City”), in the amount of

_____________________________________________________________________ Dollars

($ ), for the payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.

WHEREAS, PRINCIPAL has entered into a contract with the City for the construction of

______________________________________________________________________ located at

______________________________________________________________ in accordance with drawings and specifications which are made a part hereof and which Contract is by reference made a part hereof, and is hereinafter referred to as the Contract.

NOW, THEREFORE, the conditions of this obligation are such that if the Principal, his/her or its representatives or assigns, shall well and faithfully perform the said contract and all modifications, amendments, additions and alterations thereto that may hereafter be made, according to its terms and its true intent and meaning, and shall fully defend, indemnify, and save harmless the City from all cost and damage which it may suffer by reason of failure so to do, and shall fully reimburse and repay the City for all outlay and expense which the City may incur in making good any such default, then this obligation shall be void, otherwise the same to remain in full force and effect.

The Surety, for value received, hereby stipulates and agrees, if requested to do so by the City, to fully perform and complete the work to be performed under the contract, pursuant to the terms, conditions, and covenants thereof, if for any cause, the Principal fails or neglects to successfully perform and complete such work. The Surety further agrees to commence such work of completion within twenty (20) days after written notice thereof from the City and to complete such work within such time as the City may fix.

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The Surety, for value received, for itself and it successors and assigns hereby stipulates and agrees that the obligation of said Surety and its bond shall in no way be impaired or affected by any extension of time, modification, omission, addition, or change in or to the said contract or the work to be performed thereunder or by any payment thereunder before the time required therein, or by any waiver of any provisions, thereof, or by any assignment, subletting or other transfer thereof or of any work to be performed or by any moneys due or to become due thereunder; and said Surety does hereby waive notice of any and all of such extensions, modifications, omissions, additions, changes, payments, waivers, assignments, subcontract and transfers, and hereby expressly stipulates and agrees that any and all things done and omitted to be done by and in relation to assignees subcontractors, and other transferee’s shall have the same effect as to said Surety as though done or omitted to be done by or in relation to said Principal.

Any suit under this bond must be instituted before the expiration of two (2) years from the date on which Final Payment is made under the Contract.

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

Signed as of this _______ day of _________________________________ 20_____

IN THE PRESENCE OF:

(Principal)

(Signature)

(Title)

(Surety)

(Signature)

(Title)

(PERFORMANCE BOND – Bid # RFB-7547)

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On the ____ day of ____________________________ in the year 20___, before me personally came

____________________________to me known (or proved to me on the basis of satisfactory evidence), who, being by me duly sworn, did depose and say that he/she resides at

________________________________________________________, that he/she is the

_____________________________________of _________________________________, the corporation described in and which executed the above instrument; and that he/she signed his/her name thereto by order of the Board of Directors of said corporation.

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On the ___ day of _______________ in the year 20___ , before me personally came

____________________________, to me known and known (or proved to me on the basis of satisfactory evidence), to me to be a member of firm ___________________; described in and who executed the foregoing instrument; and he/she duly acknowledged to me that he/she executed the foregoing instrument; and that he/she duly acknowledged to me that he/she executed the same for and in behalf of said firm for the uses and purpose mentioned therein.

On the _________ day of _______________________ in the year 20____, before me personally came

____________________________________________, to me known (or proved to me on the basis of satisfactory evidence) and known to me to be the person described in and who executed the foregoing instrument and he/she duly

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On this ______day of __________________________ 20___, before me personally came

________________________________________ the attorney in fact of

________________________________________________ the Company named in the foregoing contract, to me known to be the individual described in and who, as such attorney, executed the foregoing contract, and acknowledged that he/she executed the same as the Act and deed of the said party or parties; therein described as

Consultant, and for the purpose therein mentioned, by virtue of a power of attorney duly executed and acknowledged by the said party or parties, bearing date the ______________day of ______________ 20 ____; that said powers of attorney is still in full force.

On this _____ day of __________________ in the year 20____ , before me personally came

______________________________________________ to me known, who, being by me duly sworn, did depose and say that he/she resides at ___________________________________________________________,that he/she is the

_______________________________________ of ___________________

__________________, the corporation described in and which executed the above instrument; and that he/she signed his/her name thereto by order of the Board of Directors of said corporation.

NOTARY PUBLIC OR COMMISSIONER OF DEEDS

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LABOR AND MATERIAL PAYMENT BOND

BID NO.: RFB-7547

KNOW ALL MEN BY THESE PRESENTS;

That ___________________________________________________________________ (Here insert the name and address of legal title of the Contractor) as Principal, (hereinafter called “Principal”). and _______________________________

(Here insert the legal title of Surety) as Surety, hereinafter called Surety, are held and firmly bound unto the City of Yonkers, Yonkers City Hall, Yonkers, Yew York 10701, as Obligee,(hereinafter called the City), in the amount of

_______________________________________________________________________ Dollars for the payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors and assign, jointly and severally, firmly by these presents.

WHEREAS, PRINCIPAL has by written agreement dated _________________ entered into a contract with the City for the construction of ______________________________

Located at _____________________________________________________________in accordance with drawings and specifications which are made a part hereof and which Contract is by reference made a part hereof, and is hereinafter referred to as the Contract.

NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION is such that if the Principal shall promptly make payment to all claimants as hereinafter defined, for all labor and material used or reasonably required for use in the performance of the Contract, then this obligations shall be void; otherwise such obligation shall remain in full force and effect, subject, however to the following conditions:

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, used 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 hereby jointly and severally agree with the City that every claimant as herein defined, ninety (90) days after the date on which the last of such claimant’s work or labor was done or performed, or materials were furnished by such claimant, may sue on this bond for the use of such claimant, prosecute the suit to final judgment for such sum or sums as may be justly due claimant, and have execution thereon. The City shall not be liable for the payment of any costs or expenses of any such suit.

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3. No suit or action shall be commenced hereunder by any claimant:

(a) Unless claimant, other than one having a direct contract with the Principal, shall have given written notice to any two (2) of the following: 1) the Principal, 2) the City, 3) the Surety named above, within one hundred-twenty (120) 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 claimed and the name of the party to whom the materials were furnished, or for whom the work or labor was done or performed. Such notice shall be serviced by mailing the same by registered mail or certified mail, postage prepaid, in an envelope addressed to the Principal, the City or Surety, at any place where an office is regularly maintained by said Principal, the City or Surety for the transaction of business, or serviced 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 two (2) years following the date on which Principal ceased work of said Contract, however, if any limitation embodied in this bond is prohibited by any law controlling the construction hereof such limitation shall be deemed to be amended so as to the equal to the minimum period of limitation permitted by such law.

(c) Other than in State court competent jurisdiction in and for the country or other political subdivision of the 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.

4. 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 of record against said improvement, whether or not claim for the amount of such lien be presented under and against this bond.

Signed as of this _________________________ day of ____________________20_____

IN THE PRESENCE OF;____________________________________________________

(Principal) (Signature)

(Title)

(Surety)

(Signature)

(Title)

(LABOR & MATERIAL PAYMENT BOND – Bid # RFB-7547)

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On the ____ day of ____________________________ in the year 20___ , before me personally came ____________________________to me known (or proved to me on the basis of satisfactory evidence), who, being by me duly sworn, did depose and say that he/she resides at

________________________________________________________, that he/she is the

_____________________________________of _________________________________, the corporation described in and which executed the above instrument; and that he/she signed his/her name thereto by order of the Board of Directors of said corporation.

(LABOR AND MATERIAL PAYMENT BOND – Bid # RFB-7547)

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On the ___ day of _______________ in the year 20____, before me personally came

____________________________, to me known and known (or proved to me on the basis of satisfactory evidence), to me to be a member of firm ___________________; described in and who executed the foregoing instrument; and he/she duly acknowledged to me that he/she executed the foregoing instrument; and that he/she duly acknowledged to me that he/she executed the same for and in behalf of said firm for the uses and purpose mentioned therein.

On the _________ day of _______________________ in the year 20____, before me personally came

____________________________________________, to me known (or proved to me on the basis of satisfactory evidence) and known to me to be the person described in and who executed the foregoing instrument and he/she duly

(LABOR AND MATERIAL PAYMENT BOND – Bid # RFB-7547

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STATE OF _________ )

CITY OF _________ ) ss:

On this ___________day of __________________________20____ , before me personally came

________________________________________ the attorney in fact of

________________________________________________ the Company named in the foregoing contract, to me known to be the individual described in and who, as such attorney, executed the foregoing contract, and acknowledged that he/she executed the same as the Act and deed of the said party or parties; therein described as Consultant, and for the purpose therein mentioned, by virtue of a power of attorney duly executed and acknowledged by the said party or parties, bearing date the ______________day of

______________20_____; that said powers of attorney is still in full force.

On this _____ day of __________________ in the year 20____, before me personally came

______________________________________________ to me known, who, being by me duly sworn, did depose and say that he/she resides at

_________________________________________________________________,that he/she is the

_______________________________________ of _________________________________

__________________, the corporation described in and which executed the above instrument; and that he/she signed his/her name thereto by order of the Board of Directors of said corporation.

NOTARY PUBLIC OR COMMISSIONER

OF DEEDS

(LABOR AND MATERIAL PAYMENT BOND – Bid # RFB-7547)