Payment_Bond_City_of_DeBary.pdf

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

SECTION 00610

PAYMENT BOND

NO BONDING REQUIRED ON THIS PROJECT

KNOW ALL MEN BY THESE PRESENTS: that

(Name of CONTRACTOR)

(Address of CONTRACTOR) (Phone No. of CONTRACTOR) a , hereinafter called (Corporation, Partnership or Individual)

CONTRACTOR

, and (Name of SURETY)

(Address of SURETY) (Phone No. of SURETY) hereinafter called Surety, are held and firmly bound unto:

the City of DeBary, the OWNER, whose address is 16 Colomba Road, DeBary, Florida 32713;

in the full and just Sum of DOLLARS ($ ) in lawful money of the United States, for the payment of which sum well and truly to be made, we bind ourselves, successors, and assigns, jointly and severally, firmly by these presents. The sum shall not be less than one hundred percent (100%) of the Contract Price.

THE CONDITION OF THIS OBLIGATION is such that whereas, the CONTRACTOR entered into a certain Agreement (including all associated contract documents relating thereto and as the Agreement may be amended from time-to-time) with the OWNER, dated the day of , a copy of which may be hereto attached, but, in any event, is maintained in the records of the OWNER, said Agreement being hereby made a part hereof by this reference thereto as if fully set forth herein verbatim, said Agreement being entered generally for the construction of:

(Name of Project) (Contract No.)

The Project is briefly described as:

The Project is located (address or general location as shown below):

The SURETY shall be bound by any and all alternative dispute resolution awards and settlements to the same extent as CONTRACTOR is bound.

NOW, THEREFORE, the condition of this obligation is such that if CONTRACTOR shall promptly make payments to all claimants as defined in Sections 255.05 and 713.01, Florida Statutes, supplying CONTRACTOR with labor, materials, or supplies, used directly or indirectly by CONTRACTOR in the prosecution of the Work provided for in the Agreement, then this obligation shall be void; otherwise, it shall remain in full force and effect subject, however, to the following conditions:

1. This Bond is furnished for the purpose of complying with the requirements of Section 255.05, Florida Statutes, as amended as well as for other intents and purposes for the benefit of the OWNER.

2. Any action instituted by a claimant under this bond for payment must be in accordance with the notice and time limitation provisions in Sections 713.23 and 713.18, Florida Statutes.

3. Therefore, a claimant, except a laborer, who is not in privity with the

CONTRACTOR shall, before commencing to furnish labor, materials, or supplies for the prosecution of the work, or not later than 45 days after commencing to furnish labor, materials, or supplies for the prosecution of the work, furnish the CONTRACTOR with a notice that he or she intends to look to this Bond for protection. A claimant who is not in privity with the CONTRACTOR and who has not received payment for his or her labor, materials, or supplies shall deliver to the CONTRACTOR and to the SURETY written notice of the performance of the labor or delivery of the materials or supplies and of the nonpayment. The notice of nonpayment may be served at any time during the progress of the work or thereafter but not before 45 days after the first furnishing of labor, services, or materials, and not later than 90 days after the final furnishing of the labor, services, or materials by the claimant or, with respect to rental equipment, not later than 90 days after the date that the rental equipment was last on the job site available for use. Claimant shall deliver to the CONTRACTOR and to the SURETY written notice of the performance of the labor or delivery of the materials or supplies and of the nonpayment. No action for the labor, materials or supplies may be instituted against the CONTRACTOR or the SURETY on the bond after one year from the performance of the labor or completion of the delivery of the materials or supplies.

4. The SURETY, for value received, hereby stipulates and agrees that its obligations hereunder shall be direct and immediate and not conditional or contingent upon OWNER’s pursuit of its remedies against CONTRACTOR, shall remain in full force and effect notwithstanding (i) amendments or modifications to the Agreement entered into by OWNER and CONTRACTOR without the

SURETY’s knowledge or consent (ii) waivers of compliance with or nay default under the Agreement granted by OWNER to CONTRACTOR without the SURETY’s knowledge or consent, or (iii) the discharge of CONTRACTOR from its obligations under the Agreement as a result of any proceeding initiated under the bankruptcy laws of the United States of America, as the same may be amended, or any similar State or Federal law, or any limitation of the liability or CONTRACTOR or its estate as a result of any such proceeding.

5. Any changes in or under the Agreement and compliance or noncompliance with any formalities connected with the Agreement or the changes therein shall not affect SURETY’s obligations under this Bond and SURETY hereby waives notice of any such changes. Further, CONTRACTOR and SURETY acknowledge that the Sum of this Bond shall increase or decrease in accordance with change orders (unilateral and bilateral) or other modifications to the Agreement. The CONTRACTOR may have obligations to the SURETY, but the failure of the CONTRACTOR to perform, comply with or accomplish any such obligation, in whole or part, shall not, in any way or to any extent, limit or interfere with the rights and benefits of the OWNER under this Bond.

6. This Bond and any other bond, or similar document, and the covered amounts of each, are separate and distinct from each other and the OWNER shall be entitled to the totality of rights and benefits from all such documents.

IN WITNESS WHEREOF, this instrument is executed this the day of

ATTEST: CONTRACTOR Signatory Authority

CONTRACTOR Attesting Authority CONTRACTOR Signatory Authority

Typed Name Typed Name and Title

(CORPORATE SEAL) Address

(Witness to CONTRACTOR) City, State, Zip

Typed Name Telephone No. Facsimile No.

ATTEST: SURETY

(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 the Bond. The SURETY’s obligations run as to all such parties.

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 Bond on behalf of SURETY.

END OF SECTION