Example_of_Warranty_Bond_Form.pdf

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WARRANTY BOND

KNOW ALL MEN BY THESE PRESENTS, that ______________________, hereinafter called "Principal", and ___________________________________________, a corporation organized and existing under the laws of the State of , and duly authorized to conduct and carry on a general surety business in the State of Florida, hereinafter called "Surety", are each held and firmly bound unto the City of Bunnell, hereinafter called "Owner", in the sum of ____________________Dollars ($ ______________ ) in the lawful money of the United States of America, to and for true payment whereof, we bind ourselves and each of us, our heirs, executors, administrators and successors, jointly and severally, firmly by these presents.

WHEREAS, the condition of this bond is that the Principal entered a certain Contract with the Flagler County Board of County Commissioners, dated the day of , 20___, a copy of which is now on file in the Office of the Clerk of Circuit Court at the Flagler County Courthouse, Bunnell, Florida; for accomplishing the “COUNTY ROAD 205 WIDENING & RESURFACING, PHASE 2”, for the Flagler County Board of County Commissioners in accordance with the Contract Documents related thereto; and

WHEREAS, said Contract stipulates that the Principal will furnish a surety bond conditioned to guarantee for the period ____One_____ (_1_ ) year(s) after approval and acceptance of the project, by the Owner, against all defects in workmanship and materials which become apparent during said period and such additional time as the Principal may be performing work pursuant to the obligations under the Contract; and

WHEREAS, the said project has been completed, and was approved on ____________________, NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH that, the said Principal will save the said the City of Bunnell harmless on account of and pay all claims, damages, losses, expenses, costs, and Attorney’s fees, including appellate proceedings, sustained by reason of any defective materials or workmanship to persons, property or premises arising out of its operations, or default or failure to perform subsequent to acceptance of the finished work; and if the Principal shall promptly perform and satisfactorily complete activities and make payment to all persons, firms, subcontractors and corporations furnishing materials for or performing labor in the prosecution of the warranty work provided for in such Contract and any authorized extension or modifications thereof including all amounts due for services, materials, supplies, repairs on machinery, equipment and tools, consumed or used in connection with such work, and all insurance premiums on said work, and for all labor performed in such work whether by subcontractor or otherwise, which become apparent during the period of ____One_____ ( _1_ ) year(s) from and after ____________________ then this obligation shall be void; otherwise to remain in full force and effect; and

Any changes in or under the Contract documents and compliance or noncompliance with any formalities connected with the Contract or the changes does not affect Surety’s obligation under this bond.

The exclusive jurisdiction and venue for resolving any dispute relating to this bond shall be the Circuit Court of Flagler County, Florida.

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IN WITNESS WHEREOF, this instrument is executed this day of , 20___.

Signed Sealed and Delivered in the Presence of:

PRINCIPAL:

(Typed or Printed Name)

WITNESS: BY:

(Signature) (Signature)

(Typed or Printed Name) (Typed or Printed Name)

WITNESS:

(Signature)

SURETY:

BY (AGENT):

(Signature)

(Title)

ADDRESS: