Material_and_Workmanship_Bond-Updated_by_CA.pdf

City of Debary – Rob Sullivan Park Maintenance Barn (Bid # 05-15)

SECTION 00615

MATERIAL AND WORKMANSHIP BOND

NO BONDING REQUIRED ON THIS PROJECT

KNOW ALL MEN BY THESE PRESENTS:

THAT WE , hereinafter referred to as “Contractor” and , hereinafter referred to as “Surety” are held and firmly bound unto , hereinafter referred to as the OWNER in the sum of ten percent (10%) of the Contract Price as adjusted under the Contract Documents.

The Final Contract Price is $ , therefore Contractor and Surety are held and firmly bound unto OWNER the sum of Dollars ($ ) for the payment of which we bind ourselves, heirs, executors, successors and assigns, jointly and severally, firmly by these presents.

WHEREAS, Contractor has constructed certain improvements, including and other appurtenances in that certain Project known as , and

WHEREAS, the aforesaid improvements were made pursuant to an Agreement dated

, and filed with the Purchasing Office of OWNER; and

WHEREAS, the Contractor warrants and guarantees to the OWNER that all work, labor, materials, equipment and services furnished and performed has been done in a good and workmanlike manner and is of the highest quality, free from defects; and

WHEREAS, Contractor is obligated to protect the OWNER against any defects resulting from faulty Materials or Workmanship of said improvements and to maintain said improvements for a period of one (1) year from the date of Final Completion under the Contract Documents, which is .

NOW THEREFORE, the conditions of this obligation is such that if Contractor shall promptly and faithfully protect the OWNER against any Defects resulting from faulty Materials and Workmanship of the aforesaid improvements and maintain said improvements for a period of one (1) year from the date of Final completion, then this obligation shall be null and void, otherwise it shall remain in full force and effect.

The OWNER shall notify the Contractor in writing of any Defect for which the Contractor is responsible and shall specify in said notice a reasonable period of time within which Contractor shall have to correct said Defect.

The Surety unconditionally covenants and agrees that if the Contractor fails to perform, within the time specified, the Surety, upon thirty (30) days written notice from OWNER, or its authorized agent or officer, of the failure to perform shall correct such Defect or Defects and pay the cost thereof, including, but not limited to engineering, legal and contingent costs, including but not limited to the costs of investigation, inspection, and evaluation of any defective conditions, supervision of corrective and evaluative measures, and attorneys’ fees and costs.

Should the Surety fail or refuse to correct said Defects, the OWNER, in view of the public interest, health, safety, welfare and factors involved, shall have the right to resort to any and all legal remedies against the Contractor and Surety and either, both at law and in equity, including specifically, specific performance to which the Contractor and Surety unconditionally agree.

The Contractor and Surety further jointly and severally agree that the OWNER, at its option, shall have the right to correct said Defects resulting from faulty Materials or Workmanship, or, pursuant to public advertisement and receipt of Bids, cause to be corrected any Defects or said Defects in case the Contractor shall fail or refuse to do so, and in the event the OWNER should exercise and give effect to such right, the Contractor and the Surety shall jointly and severally hereunder reimburse the OWNER the total cost thereof, including, but not limited to, engineering, legal and contingent costs, including but not limited to the costs of investigation, inspection, and evaluation of any defective conditions, supervision and evaluation of corrective measures, and attorneys’ fees and costs, together with any damages either direct or consequent which may be sustained on account of the failure of the Contractor to correct said defects.

IN WITNESS WHEREOF, this instrument is executed this the day of CONTRACTOR Signatory Authority

ATTEST: Contractor Signatory Authority

Secretary (Contractor) By (Signature)

Typed Name Typed Name and Title

(CORPORATE SEAL) Address

City, State, Zip

(Witness to Contractor) Telephone No. Facsimile No.

Typed Name

ATTEST:

(Surety) Secretary Surety

Typed Name Telephone No. Facsimile No.

(CORPORATE SEAL)

By:

Witness as to Surety Attorney-in-Fact

Typed Name Typed Name

Witness as to Surety Address

Typed Name City, State, Zip

Telephone No. Facsimile No.

NOTE: Date of the Bond must not be prior to date of Agreement. If CONTRACTOR is a joint venture, all venturers shall execute the Bond. If CONTRACTOR is Partnership, all partners shall execute Bond.

IMPORTANT: Surety companies executing Bonds must appear on the Treasury Department’s most current list (Circular 570 as amended) and be authorized to transact business in the State of Florida, unless otherwise specifically approved in writing by OWNER.

ATTACH a certified Power-of-Attorney appointing individual Attorney-in-Fact for execution of Performance Bond on behalf of Surety.

END OF SECTION