Payment_Bond.pdf

E-6 LABOR AND MATERIAL PAYMENT BOND

THIS BOND IS ISSUED SIMULTANEOUSLY WITH THE PERFORMANCE BOND IN FAVOR OF

THE OWNER CONDITIONED ON THE FULL AND FAITHFUL PERFORMANCE OF THE

CONTRACT.

KNOW ALL MEN BY THESE PRESENTS: That

(Full name and address or legal title of CONTRACTOR) as Principal, hereinafter called CONTRACTOR, and

(Full name and address or legal title of Surety) as Surety, hereinafter called Surety, are held and firmly bound unto the City of St. Cloud, Florida, as Obligee, hereinafter called OWNER, in the amount of:

(Dollar Amount in Words)

(Dollar Amount in Numbers)

(Sum equal to 100% of Contract amount) for the payment whereof CONTRACTOR and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents.

WHEREAS,

Principal has by written Agreement dated , entered into a Contract with OWNER for the construction of ITB No. 2025-131 Grant Funded Rummell Road Trail in accordance with Drawings and Specifications provided by the City of St. Cloud.

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Principal shall promptly make payment to all claimants as hereinafter defined, for all labor and materials 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 in accordance with Section 255.05, Florida Statutes:

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 OWNER that every claimant as herein defined, who has not been paid in full before the expiration of a period of ninety (90) days after the date on which he 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.) Other than the OWNER, 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 of the following: The Principal, the OWNER, or the Surety above named, within ninety (90) 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 Principal, OWNER or Surety, at any place where an office is 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 (1) 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.

d.) A claimant, except a laborer, who is not in privity with the Principal and who has not received payment for his labor, materials or supplies shall, within 45 days after beginning to furnish labor, materials or supplies for the prosecution of the work, furnish the Principal with a notice that he intends to look to the bond for protection, and e.) A claimant who is not in privity with the Principal and who has not received payment for his labor, materials or supplies shall, within ninety (90) days after performance of the labor or after complete delivery of materials or supplies, deliver to the Principal and to the Surety written notice of the performance of the labor or delivery of the materials or supplies and of the nonpayment.

f.) No action shall be instituted against the Principal or the Surety on the bond after one (1) year from the performance of the labor or completion of delivery of the materials or supplies.

The amount of this bond shall be reduced by and to the extent of a payment or payments made in good faith hereunder, inclusive of the payment by Surety of mechanics' liens which may be filed or record against said improvement whether or not claim for the amount of such lien be presented under and against this bond.

The foregoing Labor and Material Payment Bond was signed and sealed this day of 20 .

(Principal) (Seal)

(Witness) By:

(Manual Signature)

Print Name (Title)

(Surety) (Seal)

(Witness) By:

(Manual Signature)

Print Name (Title)

(Resident Agent as Attorney-in-Fact) (Witness)

(Address) Print Name

Power of Attorney attached hereon:

E-7

RIDER TO LABOR AND MATERIAL PAYMENT BOND

PUBLIC WORK - STATE OF FLORIDA

PURSUANT TO FLORIDA STATUTE SEC. 255.05

AGREEMENT made this day of 20 , between

(hereinafter called the "PRINCIPAL") and

WHEREAS, on the day of 20 , the parties hereto entered into a Payment Bond, a copy whereof is hereto attached and incorporated herein by reference, and

WHEREAS, said parties have agreed to add certain terms to said Labor and Material Payment Bond to conform with Florida Statute 255.05;

NOW, THEREFORE, it is agreed that the said Labor and Material Payment Bond pertaining to ITB No. 2025 Grant Funded Rummell Road Trail is hereby amended to include the following provisions:

Other than a suit by the OWNER, no suit or action for labor, materials, or supplies shall be instituted hereunder against the Principal or the Surety unless both of the following notices have been given by the claimant.

"A claimant, except a laborer, who is not in privity with the Principal and who has not received payment for his labor, materials, or supplies shall, within 45 days after beginning to furnish labor, materials, or supplies for the prosecution of the work, furnish the Principal with a notice that he intends to look to the bond for protection, and

A claimant who is not in privity with the Principal and who has not received payment for his labor, material, or supplies shall, within ninety (90) days after performance of the labor or after complete delivery of materials or supplies, deliver to the Principal and to the surety written notice of the performance of the labor or delivery of the materials or supplies and of the non-payment.

Other than a suit by the OWNER, no action shall be instituted, against the Principal or the Surety on the bond after one (1) year from the performance of the labor or completion of delivery of the materials or supplies."

(Remainder of this page is blank)

It is the express agreement that all other terms, conditions, and stipulations contained in the said Labor and Material Payment Bond shall remain in full force and effect and without any change or modifications whatsoever, except only as to the additions, as above provided.

Principal:

By:

Surety:

By:

Accepted:

CITY OF ST. CLOUD

(OWNER)

DATE