RFP-25-026-KY_Solicitation_Document_-_Maintenance_Bond.pdf

CONTRACT

Contract No. AP25026

EASTMONTE PARK SYNTHETIC TURF

MAINTENANCE BOND

KNOW ALL MEN BY THESE PRESENTS, that _______________________________ hereinafter referred to as contractor, as Principal, and __________________________________ of ______________________________________, Florida, hereinafter called Surety, as Surety, are held and firmly bound unto Altamonte Springs, a political subdivision of the State of Florida, as Oblige, in the full and just sum of _____________________________________ DOLLARS, lawful money of the United States of America, to the payment of which sum, well and truly to be made, the Developer and Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents.

WHEREAS, the contractor has constructed certain works in Altamonte Springs, Florida, known and identified/titled as EASTMONTE PARK SYNTHETIC TURF.

NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH that if the contractor shall maintain said works in first class condition for a period of two (2) years from the date of completion and replace all works which shall be found to be defective within a two (2) year period commencing after a Certificate of Completion has been issued by the City and shall pay any and all costs or expense incidental to the performance of any work required to be performed hereunder, then this obligation to be void; otherwise to be and remain in full force and effect.

The Engineer shall notify the principal in writing of any defect for which the principal is responsible and shall specify in said notice a reasonable period of time with which principal shall have to correct said defect.

The surety unconditionally covenants and agrees that if the principal fails to perform within the time specified, the surety, upon thirty (30) days' written notice from the City or its authorized agent or officer, will forthwith correct such defect or defects and pay the cost thereof, including, but not limited to, engineering, legal and contingent costs. Should the surety fail or refuse to correct said defects, the City, in view of the public interest, health, safety, welfare, and factors involved, and the consideration in approving and filing the said plat shall have the right to resort to any and all legal remedies against the principal and surety and either, both at law and in equity, including specifically, specific performance to which the principal and surety unconditionally agree.

The principal and surety further jointly and severally agree that the City, at its option, shall have the right to correct said defects resulting from faulty materials or workmanship, or pursuant to the public advertisement and receipt of bids, caused to correct any defects or said defects in case the principal shall fail or refuse to do so, and in the event the City should exercise and give effect to such right, the principal and the surety shall be jointly and severally hereunder to

EASTMONTE PARK SYNTHETIC TURF

reimburse the City the total costs thereof, including, but not limited to, engineering, legal and contingent costs, together with any damages either direct or consequent which may be sustained on account of the failure of the principal to correct said defects.

The principal and surety acknowledge that Section 255.05 of the Florida Statutes states

"Any person entering into a formal contract with the state or any county, city, or political subdivision thereof, or other public authority, for the construction of any public building, for the prosecution and completion of any public work, or for repairs upon any public building or public work shall be required, before commencing the work, to execute a payment and performance bond with a surety

"A claimant, except a laborer, who is not in privity with the contractor 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 contractor with notice that he intends to look to the bond for protection."

"A claimant who is not in privity with the contractor who has not received payment for his labor, materials, or supplies shall, within 90 days after the performance of the labor or after complete delivery of the materials or supplies, 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 unless both notices have been given."

"No action shall be instituted against the contractor or the surety on the bond after 1 year from the performance of the labor or completion of delivery of the materials or supplies."

"The payment provisions of all bonds furnished for contracts described above shall, regardless of form, be construed and deemed statutory bond provisions, subject to all requirements as stated above."

"All bonds executed pursuant to this section shall make reference to this section by number, and shall contain reference to the notice and time limitation provisions of this section."

EASTMONTE PARK SYNTHETIC TURF

SIGNED, SEALED, AND DATED this the ___________________ day of

__________________, A.D., 20 ______.

__________________________(Seal)

Witness ___________________________

Witness ___________________________

By:______________________________ Surety