Bonds.pdf

KENTON COUNTY AIRPORT BOARD

INVOTATION TO BID

PARKING AND REVENUE CONTROL SYSTEM (PRCS) MAINTENANCE (26-039-ITB)

LABOR AND MATERIAL PAYMENT BOND

KNOW ALL MEN BY THESE PRESENTS: That _________________________________________, as Principal, hereinafter called Contractor, and ______________________________________________, as Surety, hereinafter called Surety, are held and firmly bound unto the Kenton County Airport Board, as Obligee, hereinafter called Owner, for the use and benefit of claimants as herein below defined, in the amount of _________________________________________________________ for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents.

WHEREAS, Contractor has, by written agreement dated __________ entered into a Contract with Owner for Parking and Revenue Control System (PRCS) Maintenance Project at the Cincinnati/Northern Kentucky International Airport, in accordance with Plans and Specifications prepared by PCS Architecture PSC, which Contract is by reference made a part hereof, and is hereinafter referred to as the Contract.

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that if Contractor 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 obligation shall be void; otherwise, it 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 Contractor or with a

Subcontractor of the Contractor 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 Contractor and Surety hereby jointly and severally agree with the Owner that every claimant, as herein defined, who has not been paid in full before the expiration of a period of 180 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 Owner shall not be liable for the payment of any costs or expenses of any such suit.

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

a. Unless claimant, other than one having a direct contract with the Contractor, shall have given written notice to any two of the following: the Contractor, the Owner, or the Surety above-named, within 180 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 served by mailing the same by registered mail or certified mail, postage prepaid, in an envelope addressed to the Contractor, Owner, or Surety, at any place where an office is

2.

regularly maintained for the transaction of business, or served 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 one year following the date on which Principal ceased work on said Contract, it being understood, however, that 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 be equal to the minimum period of limitation permitted by such law.

c. Other than in a state court of competent jurisdiction in and for the county 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 mechanics' 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 and sealed , 2026.

(Witness) (Principal) (Seal)

(Name and Title)

(Witness) (Surety) (Seal)

3.

PERFORMANCE BOND

KNOW ALL MEN BY THESE PRESENTS: That _________________________________________, as Principal, hereinafter called Contractor, and ______________________________________________, as Surety, hereinafter called Surety, are held and firmly bound unto the Kenton County Airport Board, as Obligee, hereinafter called Owner, in the amount of __________________________________ for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, and successors and assigns, jointly and severally, firmly by these presents.

WHEREAS, Contractor has, by written agreement dated _______________, entered into a contract with Owner for the Parking and Revenue Control System (PRCS) Maintenance Project at the Cincinnati/Northern Kentucky International Airport, in accordance with Plans and Specifications prepared by PCA Architecture PSC, which Contract is by reference made a part hereof, and is hereinafter referred to as the Contract.

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that if Contractor shall promptly and faithfully perform said Contract, then the obligation shall be null and void; otherwise, it shall remain in full force and effect.

The Surety hereby waives notice of any alteration or extension of time made by the Owner. Whenever Contractor shall be, and declared by Owner to be, in default under the Contract, the Owner having performed Owner's obligations thereunder, the Surety may promptly remedy the default, or shall promptly:

(1) Complete the Contract in accordance with its terms and conditions, or

(2) Obtain a bid or bids for completing the Contract in accordance with its terms and conditions, upon determination by Surety of the lowest responsible bidder, or, if the Owner elects, upon determination by the Owner and the Surety jointly of the lowest responsible Bidder, arrange for a contract between such Bidder and Owner, and make available as work progresses (even though there should be a default or a succession of defaults under the Contract or Contracts of completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the Contract price; but not exceeding, including other costs and damages for which the Surety may be liable hereunder, the amount set forth in the first paragraph hereof. The term "balance of the Contract price," as used in this paragraph, shall mean the total amount payable by Owner to Contractor under the Contract and any amendments thereto, less the amount properly paid by Owner to Contractor.

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

Signed and sealed , 2026 .

(Witness) (Principal) (Seal)

(Witness) (Surety) (Seal)

4.

SURETY BOND AFFIDAVIT

STATE OF

COUNTY OF

Before me, the undersigned authority, personally appeared ______________________________ who, being duly sworn, deposes and says that he is a duly authorized (resident) (nonresident) insurance agent, properly licensed under the laws of the State of ___________________, and the Commonwealth of Kentucky, to represent ______________________________ of _______________________________ (company name), a company authorized to make corporate surety bonds under the laws of the Commonwealth of Kentucky.

Said _______________________________________ further certifies that as Attorney-In-Fact for the said he has signed the attached bond in the sum of ______________________________________, on behalf of _____________________________________ covering the Parking and Revenue Control System (PRCS) Maintenance Project at the Cincinnati/Northern Kentucky International Airport, Boone County, Kentucky.

Said _____________________________________ further certifies that the premium on the said bond is __________________________, which will be paid in full direct to him as Attorney-In-Fact, and included in his regular accounts to the said ______________________________, and that he will receive his regular commission of ______________ percent as Attorney-In-Fact for the execution of said Bond and that his commission will not be divided with anyone except as follows, percent to ___________________________________ (company name), who is duly authorized resident insurance agent and properly licensed under the laws of the Commonwealth of Kentucky.

Agent and Attorney-In-Fact

ACKNOWLEDGMENT FOR Attorney-In-Fact Sworn to and subscribed before me this _______ day of ___________________, 2026.

Notary Public

My Commission expires: _________________