Seminole_County_-_Bond_Forms_(after_Notice_of_Award).pdf

PAYMENT BOND

BOND NO.: ________________

KNOW ALL MEN BY THESE PRESENTS that [Contractor Name, Address, Phone No.] as Principal, and [Surety Name, Address, Phone No.] as Surety, are held and firmly bound to Seminole County, Florida, 1101 E. 1st Street, Sanford, FL 32771, as Obligee, in the sum of ________________________________ and __/100 Dollars ($_______________), for the payment of which Principal and Surety do bind themselves, their heirs, executors, personal representatives, administrators, successors, and assigns, jointly and severally.

WHEREAS, Principal has agreed to perform construction services for the construction project titled _________________________________________________________, located at _______________________________________, which involves [general description of the project] __________________________________________________________(“Project”); and

WHEREAS, Principal entered into Contract No.: _____________ with Obligee (“Contract”), which is hereby incorporated by reference and made a part hereof.

THE CONDITION OF THIS BOND is that if Principal:

a. Promptly makes payment to all claimants, as defined in Section 255.05(1), Florida

Statutes, supplying Principal with labor, materials, or supplies used directly or indirectly by Principal in the prosecution of the work provided for in the Contract;

b. Pays Obligee all losses, damages, expenses, costs, and attorney's fees, including appellate proceedings, that Obligee sustains because of Principal’s failure to make payments to claimants; and

c. Defends, indemnifies, and holds Obligee harmless from any claims, demands, suits, or liens, then the obligation of this Bond is void, otherwise, it remains in full force.

1. Surety’s obligations to Obligee under this Bond shall be triggered upon Surety’s receipt of Obligee’s written correspondence notifying Principal and Surety of any claims, demands, liens, or suits against Obligee or the Project by any person or entity seeking payment for labor, materials, or equipment provided to Principal for use in performance of the Contract.

2. Upon Surety’s receipt of Obligee’s written notice identified in Paragraph 1, Surety shall promptly, and at its sole expense, defend, indemnify, and hold Obligee harmless against any claim, demand, lien, or suit by any person or entity seeking payment for labor, materials, or equipment provided to Principal for use in performance of the Contract.

3. Any changes in or under the Contract, including changes to time or price, are binding on Surety and will not affect Surety’s obligation under this Bond. Any increase to the Contract price shall accordingly increase the amount of this Bond. Surety hereby waives its right to notice of any change to the Contract.

4. Any claim against this Bond by a claimant shall be submitted in accordance with Section 255.05, Florida Statutes. Any suit or action by a claimant pursuant to this Bond must be commenced in accordance with the time and notice provisions of Section 255.05(2) and (10), Florida Statutes. Any suit or action pursuant to this Bond shall be instituted in the courts of Seminole County, Florida. Any suit or action pursuant to this Bond, except an action for recovery of retainage, must be instituted within one (1) year after the last day of furnishing labor, services, or materials by claimant.

5. Written notice to any party shall be delivered to the party’s address identified on page one

(1) of this Bond.

6. This Bond is intended to be construed as a statutory bond and not a common law bond.

This Bond is furnished to comply with Section 255.05, Florida Statutes and shall be construed in accordance with the statute. The terms of this Bond are hereby amended and modified so all provisions and limitations of the statute, including conditions precedent, notice, and time limitations, are incorporated into this Bond. Any provisions of this Bond which conflict with or purport to grant coverage in excess of the minimum requirements of the statute are deemed deleted or amended such that the Bond provisions will provide the only the coverage specified in the statute. This Bond is unconditional. Consistent with Section 255.05, Florida Statutes, in any action brought to enforce a claim against this Bond, the prevailing party is entitled to recover a reasonable fee for the services of his or her attorney for trial and appeal or for arbitration, in an amount to be determined by the court, which fee must be taxed as part of the prevailing party's costs.

7. The date of the Bond must not be prior to date of the Contract. If Principal is a joint venture, all venturers shall execute the Bond. If Principal is a partnership, all partners shall execute the Bond. 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 Obligee. All bonds shall be originals and issued or countersigned by a local producing agent who is authorized to operate in the State of Florida. Attorneys-in-fact who sign bonds must file with such bond a certified copy of their Power of Attorney to sign such bond. Agents of surety companies must list their name, address, and telephone number on all bonds.

[Signatures on Following Pages]

IN WITNESS WHEREOF, the Principal and Surety have caused this Bond to be executed by their duly authorized officers this ______ day of _________________, 20____.

PRINCIPAL:

Witness Name of Corporation

___________________________ By:_____________________________ Printed Name

Witness Printed Name

Printed Name Title

STATE OF ____________

COUNTY OF __________

The foregoing instrument was acknowledged before me by means of [_] physical presence or [_] online notarization this ____________ day of ___________ 202_, by ________________________, as ________________ of ________________________.

My Commission Expires:

(Signature of Notary) Name:___________________________

(AFFIX OFFICIAL SEAL)

Notary Public, State of Florida Serial No., If Any:_________________

Personally Known _______ OR Produced Identification _______ Type of Identification Produced

SURETY:

Witness Name of Corporation

___________________________ By:_____________________________ Printed Name

Witness Printed Name

Printed Name Title

STATE OF ____________

COUNTY OF __________

The foregoing instrument was acknowledged before me by means of [_] physical presence or [_] online notarization this ____________ day of ___________ 202_, by ________________________, as ________________ of ________________________.

My Commission Expires:

(Signature of Notary)

Name:___________________________

(AFFIX OFFICIAL SEAL)

Notary Public, State of Florida Serial No., If Any:_________________

Personally Known _______ OR Produced Identification _______

Doc Id: 4910-0050-4606

PERFORMANCE BOND

BOND NO.: _________________

KNOW ALL MEN BY THESE PRESENTS that [Contractor Name, Address, Phone No.] as Principal, and [Surety Name, Address, Phone No.] as Surety, are held and firmly bound to Seminole County, Florida, 1101 E. 1st Street, Sanford, FL 32771, as Obligee, in the sum of _________________________________________ and ___/100 Dollars ($______________), for the payment of which Principal and Surety do bind themselves, their heirs, executors, personal representatives, administrators, successors, and assigns, jointly and severally.

WHEREAS, Principal has agreed to perform construction services for the construction project titled ____________________________________________________________, located at ________________________________________, which involves [general description of the project] _____________________________________________________________ (“Project”); and

WHEREAS, Principal entered into Contract No.: _____________ with Obligee (“Contract”), which is hereby incorporated by reference and made a part hereof.

THE CONDITION OF THIS BOND is that if Principal:

a. Promptly, fully, and completely performs the Contract in the time and manner prescribed in the Contract, and

b. Pays Obligee for any and all losses, damages, expenses, costs and fees, including direct, indirect, and consequential damages, that Obligee sustains as a result of any Principal Default, then the obligation of this Bond is void, otherwise it remains in full force.

1. Surety’s obligations under this Bond shall be triggered upon Surety’s receipt of Obligee’s written correspondence to Principal and Surety declaring a Principal Default and terminating the Contract.

2. Upon Obligee’s declaration of a Default, Surety shall promptly and at its sole expense, proceed with one of the following:

a. Arrange for the Principal to perform and complete the Contract in the time and manner prescribed in the Contract, but only if consented to by the Obligee;

b. Perform and complete the Contract itself through an alternative contractor(s) or agent(s), that Obligee approves of, however, Surety may not use the defaulted Principal unless consented to by the Obligee;

c. Procure bids or proposals from contractors acceptable to Obligee for performance and completion of the Contract; select a contractor that Obligee approves of; arrange for a contract to be executed by Obligee and contractor to be secured with payment, warranty, and performance bonds from a qualified surety in the same amounts as those issued on the Contract; pay the completion costs and pay damages to Obligee, as provided herein;

however, Surety shall complete the foregoing actions no later than thirty (30) days after Surety’s receipt of Obligee’s written correspondence declaring a Principal Default; or

d. Make payment to Obligee in an amount that Obligee and Surety mutually agree upon;

if Obligee and Surety cannot agree to the amount of the payment, then Surety must proceed with a different option under this Paragraph 2.

3. Within ten (10) days of Surety’s receipt of Obligee’s written notice of a Principal Default, Surety shall notify Obligee, in writing, which of the four (4) actions identified in Paragraph 2 that Surety will perform to remedy the Principal Default.

4. If Surety fails to promptly proceed as provided in Paragraph 2 and Paragraph 3, Obligee shall send written correspondence demanding that the Surety perform its obligations under the Bond (“Breach Correspondence”). If Surety fails to perform within seven (7) days of receipt of the Breach Correspondence, Surety shall be deemed in default under the Bond and Obligee shall be entitled to enforce any remedy available to it in law or in equity. If Surety makes payment pursuant to Paragraph 2.d and Obligee refuses the payment, Obligee shall be entitled to enforce any remedy available to it without further notice to Surety or Principal.

5. Pursuant to this Bond, Surety is responsible for the following:

a. Principal’s obligation to correct and replace defective work, including post completion warranty work, under the Contract;

b. Principal’s obligation to complete the Contract within the time specified in the

Contract;

c. Payment to the Obligee of direct damages, indirect damages, and consequential damages, including but not limited to attorney’s fees and costs and design professional fees, resulting from a Default;

d. Payment to Obligee of direct damages, indirect damages, and consequential damages resulting from Surety’s actions or inaction under Paragraph 4;

e. Liquidated damages, or if no liquidated damages are provided under the Contract or if liquidated damages have not yet accrued, Obligee’s actual delay damages resulting from Principal’s delayed performance or nonperformance.

Surety and Obligee agree that any damages waiver in the Contract shall not bar Obligee’s recovery of the damages identified in this Paragraph.

6. If Surety chooses to perform pursuant to the Paragraphs 2(a), 2(c), or 2(d), Surety’s liability shall be limited to the amount of this Bond.

7. Surety shall not be responsible for obligations unrelated to the Contract. The Balance of the Contract Price shall not be reduced by any amount unrelated to the Contract. No right of action on this Bond shall accrue to any person or corporation other than the Obligee named herein or its heirs, executors, administrators, successors, and assigns.

8. Any changes in or under the Contract, including changes to time or price, are binding on Surety and will not affect Surety’s obligation under this Bond. Any increase to the Contract Price shall accordingly increase the amount of this Bond. Surety hereby waives its right to notice of any change to the Contract.

9. Any proceeding under this Bond shall be instituted in the courts of Seminole County, Florida and shall be instituted within the notice and time limitation provisions in Section 255.05, Florida Statutes.

10. In the event any provision of this Bond conflicts with applicable legal or statutory authority, the provision shall be deemed deleted and a conforming provision shall be deemed incorporated herein.

11. This Bond is intended to be construed as a statutory bond and not a common law bond. This Bond is furnished to comply with Section 255.05, Florida Statutes and shall be construed in accordance with the statute. The terms of this Bond are hereby amended and modified so all provisions and limitations of the statute, including conditions precedent, notice, and time limitations, are incorporated into this Bond.

12. This Bond shall remain in effect through the expiration of the warranty period specified in the Contract.

13. Written notice to any party shall be delivered to the party’s address identified on page one (1) of this Bond

14. The following definitions govern this Bond:

a. Contract Price. The total amount payable by the Obligee to the Principal for complete and full performance of the Contract.

b. Balance of the Contract Price. The Contract Price less all payments made on behalf of Obligee to Principal.

c. Principal Default. Principal’s failure to perform or comply with a term of the Contract.

15. The date of the Bond must not be prior to date of the Contract. If Principal is a joint venture, all venturers shall execute the Bond. If Principal is a partnership, all partners shall execute the Bond. 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 Obligee. All bonds shall be originals and issued or countersigned by a local producing agent who is authorized to operate in the State of Florida. Attorneys-in-fact who sign bonds must file with such bond a certified copy of their Power of Attorney to sign such bond. Agents of surety companies must list their name, address, and telephone number on all bonds.

PRINCIPAL:

Witness Name of Corporation

___________________________ By:_____________________________ Printed Name

Witness Printed Name

Printed Name Title

STATE OF ____________

COUNTY OF __________

The foregoing instrument was acknowledged before me by means of [__] physical presence or [__] online notarization this ____________ day of ___________ 202_, by ________________________, as ________________ of ________________________.

My Commission Expires:

(Signature of Notary)

Name:___________________________

(AFFIX OFFICIAL SEAL)

Notary Public, State of Florida Serial No., If Any:_________________

Witness Name of Corporation

___________________________ By:_____________________________ Printed Name

Witness Printed Name

Printed Name Title

STATE OF ____________

COUNTY OF __________

The foregoing instrument was acknowledged before me by means of [_] physical presence or [_] online notarization this ____________ day of ___________ 202_, by ________________________, as ________________ of ________________________.

My Commission Expires:

(Signature of Notary)

Name:___________________________

(AFFIX OFFICIAL SEAL)

Notary Public, State of Florida Serial No., If Any:_________________

Doc Id: 4914-1980-3934

WARRANTY BOND

BOND NO.: _________________

KNOW ALL MEN BY THESE PRESENTS that [Contractor Name, Address, Phone No.] as Principal, and [Surety Name, Address, Phone No.] as Surety, are held and firmly bound to Seminole County, Florida, 1101 E. 1st Street, Sanford, FL 32771, as Obligee, in the sum of ________________________________ and ___/100 Dollars ($________________), for the payment of which Principal and Surety do bind themselves, their heirs, executors, personal representatives, administrators, successors, and assigns, jointly and severally.

WHEREAS, Principal has agreed to perform construction services for the construction project titled __________________________________________________________, located at _______________________________________, which involves [general description of the project] __________________________________________________________ (“Project”); and

WHEREAS, Principal entered into Contract No.: ______________ with Obligee (“Contract”), which is hereby incorporated by reference and made a part hereof; and

WHEREAS, Principal completed the construction of the Project and a certificate of final completion for the Project was issued on ___________________ (“Final Completion”).

THE CONDITION OF THIS BOND is that if Principal:

a. Promptly, fully, and completely maintains the Project and corrects any defective work; and

b. Pays Obligee for all losses, damages, expenses, costs and fees, including direct, indirect, and consequential damages, that Obligee sustains as a result of any Principal Default, then the obligation of this Bond is void, otherwise it remains in full force.

1. This Bond shall commence on the Final Completion date and shall continue for a period of one (1) year (“Term of Bond”).

2. Obligee shall notify Principal, in writing, of any defective work for which Principal is responsible and shall specify in said notice a reasonable period of time within which Principal shall have to correct said defect. If Principal fails to perform within the time specified in said notice, then Obligee shall provide written notice to Principal and Surety of Obligee’s intent to declare a Principal Default. If Principal fails to remedy the Principal Default, to Obligee’s complete satisfaction, within thirty (30) days (unless extended further by Obligee) of Obligee’s notice of intent to declare a Principal Default, then Obligee may provide written notice to Principal and Surety declaring a Principal Default. Surety’s obligations under this Bond are triggered upon Surety’s receipt of Obligee’s written notice declaring a Principal Default.

3. Obligee’s failure to comply with the notice provisions in Paragraph 2 shall not constitute a failure to comply with conditions precedents or release Surety from liability, except to the extent Surety establishes actual prejudice.

4. Within thirty (30) days of Surety’s receipt of Obligee’s written notice declaring a Principal Default, Surety shall, at its sole expense, remedy the Principal Default. Surety may only use the defaulted Principal to remedy the Principal Default if the Obligee consents.

5. If Surety fails to proceed as provided in Paragraph 4, Obligee shall send written correspondence demanding that the Surety perform its obligations under the Bond (“Breach Correspondence”). If Surety fails to perform within seven (7) days of receipt of the Breach Correspondence:

a. Obligee shall be entitled to correct the defective work through an alternative contractor and Principal and Surety, jointly and severally, shall pay Obligee all costs incurred in correcting the defective work; and

b. Surety shall be deemed in default under the Bond and Obligee shall be entitled to enforce any remedy available to it in law or in equity.

6. Surety’s obligations to Obligee shall not be greater than Principal’s obligations to Obligee under the Contract. Obligee’s obligations to Surety shall not be greater than the Obligee’s obligations to Principal under the Contract.

7. Pursuant to this Bond, Surety is responsible for the following:

a. Principal’s obligation to correct or replace defective work as set forth in the Contract;

and

b. Payment to Obligee of costs, expenses, losses, and direct, indirect, and consequential damages, including but not limited to attorney’s fees and costs and design and engineering costs, incurred as a result of a Principal Default or the actions or inactions of Surety pursuant to Paragraph 5.

Obligee, Principal, and Surety agree that costs to correct or replace defective work are not consequential damages.

8. Obligee may request an extension of this Bond. If Surety chooses to extend the Bond, it shall be considered one continuous bond. If Surety chooses not to extend the Bond, Surety shall notify Obligee within seven (7) days of Obligee’s request. Surety’s failure to extend this Bond shall not constitute a breach or default under this Bond.

9. Surety’s liability under this Bond shall be limited to the amount of the Bond stated on page 1.

10. No right of action on this Bond shall accrue to any person or corporation other than the Obligee named herein or its heirs, executors, administrators, successors, and assigns.

11. Any suit or action pursuant to this Bond shall be instituted in the courts of Seminole County, Florida and shall be instituted within two (2) years after a declaration of a Principal Default.

12. In the event any provision of this Bond conflicts with applicable legal or statutory authority, the provision shall be deemed deleted and a conforming provision shall be deemed incorporated herein.

13. If at any time during the Term of this Bond, Obligee notifies Principal and Surety, in writing, of any defective work for which Principal is responsible, then this Bond shall continue in full force and effect until such defective work is corrected.

14. Any changes in or under the Contract, including changes to time or price, are binding on Surety and will not affect Surety’s obligation under this Bond. Surety hereby waives its right to notice of any change to the Contract.

15. Written notice to any party shall be delivered to the party’s address identified on page one

(1) of this Bond.

16. The phrase “Principal Default” shall mean the failure of the Principal to comply with the warranties in the Contract.

17. The date of the Bond must not be prior to date of the Contract. If Principal is a joint venture, all venturers shall execute the Bond. If Principal is a partnership, all partners shall execute the Bond. 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 Obligee. All bonds shall be originals and issued or countersigned by a local producing agent who is authorized to operate in the State of Florida. Attorneys-in-fact who sign bonds must file with such bond a certified copy of their Power of Attorney to sign such bond. Agents of surety companies must list their name, address, and telephone number on all bonds.

PRINCIPAL:

Witness Name of Corporation

___________________________ By:_____________________________ Printed Name

Witness Printed Name

Printed Name Title

STATE OF ____________

COUNTY OF __________

The foregoing instrument was acknowledged before me by means of [_] physical presence or [_] online notarization this ____________ day of ___________ 202_, by ________________________, as ________________ of ________________________.

My Commission Expires:

(Signature of Notary)

Name:___________________________

(AFFIX OFFICIAL SEAL)

Notary Public, State of Florida Serial No., If Any:_________________

Witness Name of Corporation

___________________________ By:_____________________________ Printed Name

Witness Printed Name

Printed Name Title

STATE OF ____________

COUNTY OF __________

The foregoing instrument was acknowledged before me by means of [_] physical presence or [_] online notarization this ____________ day of ___________ 202_, by ________________________, as ________________ of ________________________.

My Commission Expires:

(Signature of Notary)

Name:___________________________

(AFFIX OFFICIAL SEAL)

Notary Public, State of Florida Serial No., If Any:_________________

Personally Known _______ OR Produced Identification _______

Doc Id: 4913-5276-0606