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HomeMy WebLinkAboutB & B Builders-6/1/2015CITY OF WATERLOO Council Communication Resolution approving award of contract to B & B Builders and Supply., of Waterloo, Iowa in the amount of $249,787.72; and approving the Contract, Bonds, and Certificate of Insurance for the F.Y. 2015 Sidewalk Repair Program - Zone 5 and Trail Repairs, Contract No. 878; and authorize ',t)," Mayor and City Clerk to execute saiddocuments. City Council Meetin, 6/1/2015 Prepared: 5/26/2015 = '' SUBJECT: Submitted by: Source of Funds: Resolution approving award of contract to B & B Builders and Supply., of Waterloo, Iowa in the amount of $249,787.72; and approving the Contract, Bonds, and Certificate of Insurance for the F.Y. 2015 Sidewalk Repair Program - Zone 5 and Trail Repairs, Contract No. 878; and authorize Mayor and City Clerk to execute said documents. Submitted By: Wayne Castle, PLS, EI G.O. Bonds Background Information: Engineer's estimate was $364,697.46 Bond No. IAC584630 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: That we, B & B Builders & Supply of 5728 Sierra Drive, Waterloo, Iowa 50701 (the "Principal"), and Merchants Bonding Company (Mutual) of 2100 Fleur Drive, Des Moines, Iowa 50321 (the "Surety"), are held and firmly bound unto the City of Waterloo, Iowa (the "Obligee"), in the penal sum of Two Hundred Fo -Nine Thousand Seven Hundred Eighty -Seven and 73/100 Dollars ($ —249,787.73-- ), lawful money of the United States, for the payment of said sum in connection with a contract (the "Contract") dated on or about J u rer-1 ,.?-o 1S for the purpose of F.Y. 2015 Sidewalk Repair Program Zone 5 and Trail Repairs, Contract #878; Waterloo, Iowa . The Contract is incorporated herein by reference as though fully set forth herein. Whenever the Principal shall be and is declared by the Obligee to be in default under the Contract, with the Obligee having performed its obligations in the Contract, then the Surety, acknowledging that time is of the essence, may promptly remedy the default, or shall promptly undertake to: 1. Complete the Contract in accordance with its terms and conditions; or 2. Obtain one or more bids for completing the Contract in accordance with its terms and conditions, and upon determination by the Surety of the lowest responsible bidder, or negotiated proposal, or, if the Obligee elects, upon determination by the Obligee and the Surety jointly of the lowest responsible bidder, or negotiated proposal, arrange for a contract between such party and the Obligee. The Surety will make available as work progresses sufficient funds to pay the cost of completion less the balance of the Contract price. The cost of completion includes responsibilities of the Principal for correction of defective work and completion of the Contract, the Obligee's legal and design professional costs resulting directly from the Principal's default, and liquidated damages or actual damages if no liquidated damages are specified in the Contract. The term "balance of the Contract price" means the total amount payable by the Obligee to the Principal under the Contract and any amendments thereto. Tess the amount property paid by the Obligee to the Principal; or 3. Determine the amount for which it is liable to the Obligee and pay the Obligee that amount as soon as practicable. In the event this bond is enforced, Principal and Surety agree to indemnify Obligee and hold Obligee harmless from and against any and all costs of enforcement, including but not limited to reasonable attorneys' fees and expenses. Every Surety on this bond shall be deemed and held, any contract to the contrary notwithstanding, to consent to each and all of the following matters, without notice: Performance Bond Page 1 of 2 1. To any extension of time to the Contract in which to perform the Contract. 2. To any change in the plans, specifications, or Contract when such change does not involve an increase of more than twenty percent (20%) of the total Contract price, and shall then be released only as to such excess increase. 3. That no provision of this bond or of any other contract shall be valid which limits to less than one (1) year from the time of the acceptance of the work the right to sue on this bond for defect in workmanship or material not discovered or known to the Obligee at the time such work was accepted. If the Principal performs the Contract, then this bond shall be null and void; otherwise it shall remain in full force and effect. In no event shall the Surety's total obligation exceed the penal amount of this bond. Terms used herein shall include, as appropriate, the singular or plural number, or the masculine, feminine or neuter gender. IN WITNESS WHEREOF, the undersigned Principal and Surety have executed this Performance Bond as of PRINCIPAL B & B Builders & Supply Name By: Title: SURETY Merchants Bonding Company (Mutual) Name By: Title: Abigail R. ` ohr, Attomey-in-Fact [attach Power of Attorney] NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should execute BOND. If this project includes Federal Funds, the following appliesyto the paymentbond: 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 where the project is located. Performance Bond Page 2 of 2 Bond No. IAC584630 PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: that B & B Builders & Supply (Name of Contractor) 5728 Sierra Drive, Waterloo, Iowa 50701 (Address of Contractor) a Individual , hereinafter called Principal, (Corporation, Partnership or Individual) and, Merchants Bonding Company (Mutual) (Name of Surety) 2100 Fleur Drive, Des Moines, Iowa 50321 (Address of Surety) hereinafter called Surety, are held and firmly bound unto City of Waterloo (Name of Owner) 220 Clay Street, Cedar Falls, Iowa 50613 (Address of Owner) hereinafter called OWNER, in the penal sum of HdredE h eve and73/1o0 "DOIIars,($249,787.73 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 CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the OWNER, dated the day of 2015 , a copy of which is hereto attached and made a part hereof for the construction of: F.Y. 2015 Sidewalk Repair Program - Zone 5 and Trail Repairs Contract No. 878 Waterloo, Iowa NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms, SUBCONTRACTORS, and corporations furnishing materials for or performing labor in the prosecution of the WORK provided for in such contract, and any authorized extension or modification thereof, including all amounts due for materials, lubricants, oil, gasoline, coal and coke, repairs on machinery, equipment and tools, consumed or used in connection with the construction of such WORK, and all insurance premiums on said WORK, and for all labor, performed in such WORK whether by SUBCONTRACTOR or otherwise, then this obligation shall be void; otherwise to remain in full force and effect. PROVIDED, FURTHER, that the said Surety for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the WORK to be performed thereunder or the SPECIFICATIONS accompanying the same shall in any wise affect its obligation on this BOND, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the WORK or to the SPECIFICATIONS. PROVIDED, FURTHER, that no final settlement between the OWNER and the CONTRACTOR shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied. IN WITNESS HEREOF, this instrument is executed in four(4) counterparts, each one of (number) which shall be deemed an original, this the day of 2015 ATTEST: B & B Builders & Supply (Principal) Secretary (SEAL) By Witness as to Principal 5728 Sierra Drive (Address) Waterloo, Iowa 50701 ATTEST: tnss�as to Surety 1415 28th Street, Suite 300 (Address) West Des Moines, Iowa 50266 Principal ,gbz 5728 Sierra Drive (s) (Address) Waterloo, Iowa 50701 Merchants Bonding Company (Mutual) By A .uk;f�lNl 2100 Fleur Drive ttorney-in-Fac Abigail R. Mohr (Address) Des Moines, Iowa 50321 NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should execute BOND. If tnis project includes Federal Funds„the,following applies -to the i payment I Ond:i 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 where the project is located. MERCHANT'N BONDING COMPANY. POWER OF ATTORNEY Know All Persons By These Presents, that MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., both being corporations duly organized under the laws of the State of Iowa (herein collectively called the `Companies"), and that the Companies do hereby make, constitute and appoint, individually, John W. Ahrold, Mat DeGroote, John R. Fay, Matthew R. Fay, Karlene K. Kentner, Lauri A. Meneough, Abigail R. Mohr, Jennifer D. Stark of Des Moines and State of Iowa their true and lawful Attomey-in-Fact, with full power and authority hereby conferred in their name, place and stead, to sign, execute, acknowledge and deliver in their behalf as surety any and all bonds, undertakings, recognizances or other written obligations in the nature thereof, subject to the limitation that any such instrument shall not exceed the amount of: FIFTEEN MILLION ($15,000,000.00) DOLLARS and to bind the Companies thereby as fully and to the same extent as if such bond or undertaking was signed by the duly authorized officers of the Companies, and all the acts of said Attorney -in -Fact, pursuant to the authority herein given, are hereby ratified and confirmed. This Power-of-Attomey is made and executed pursuant to and by authority of the following By -Laws adopted by the Board of Directors of the Merchants Bonding Company (Mutual) on April 23, 2011 and adopted by the Board of Directors of Merchants National Bonding, Inc., on October 24, 2011. 'The President, Secretary, Treasurer, or any Assistant Treasurer or any Assistant Secretary or any Vice President shall have power and authority to appoint Attomeys-in-Fact, and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and undertakings, recognizances, contracts of indemnity and other writings obligatory in the nature thereof. The signature of any authorized officer and the seal of the Company may be affixed by facsimile or electronic transmission to any Power of Attomey or Certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship obligations of the Company, and such signature and seal when so used shall have the same force and effect as though manually fixed." In Witness Whereof, the Companies have caused this instrument to be signed and sealed this 6th day of March , 2013 . STATE OF IOWA COUNTY OF POLK ss. ,L.: A• CO' -'dj , 0 . E. --.: 4:: -Q- ` • c .'si ;- it _0 2G03 :.n= .",r ••....... :0-' �....�.! .' MERCHANTS BONDING COMPANY (MUTUAL) MERCHANTS NATIONAL BONDING, INC. By President r-7 On this 6th day of March , 2013 , before me appeared Larry Taylor, to me personally known, who being by me duly swom did say that he is President of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC.; and that the seals affixed to the foregoing instrument is the Corporate Seals of the Companies; and that the said instrument was signed and sealed in behalf of the Companies by authority of their respective Boards of Directors. In Testimony Whereof, I have hereunto set my hand and affixed my Official Seal at the City of Des Moines, Iowa, the day and year first above written. �•MARANDA GREENWALT I 1 Commission Number 770312 My Commission Expires O YA October 28, 2014 STATE OF IOWA COUNTY OF POLK ss. Notary Public, Polk County, Iowa I, William Wamer, Jr., Secretary of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., do hereby certify that the above and foregoing is a true and correct copy of the POWER-OF-ATTORNEY executed by said Companies, which is still in full force and effect and has not been amended or revoked. In Witness Whereof, I have hereunto set my hand and affixed the seal of the Companies on this day of , 2015 "' •• i * 4' SPU ,6 ••s Cl °4t4.;:•70\ �o • O.. c; AJ� 4 e . s • e. f2 L*/��;Ce%u/ = • 'L 1933. C Secretary v14: 2003 .Q= :tib. •- •-y. POA 0014 (11/11) k>33,.....•;,q�,,�. . 0•. ' • �1� Bond No. IAC584630 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: That we, B & B Builders & Supply of 5728 Sierra Drive, Waterloo, Iowa 50701 (the "Principal"), and Merchants Bonding Company (Mutual) Of 2100 Fleur Drive, Des Moines, Iowa 50321 (the "Surety"), are held and firmly bound unto the City of Waterloo, Iowa (the "Obligee"), in the penal sum of Two Hundred Forty -Nine Thousand Seven Hundred Eighty -Seven and 73/100 Dollars ($ —249,787.73— ), lawful money of the United States, for the payment of said sum_ in connection with a contract (the "Contract") dated on or about v �Q-_ 1, 2-6% for the purpose of F.Y. 2015 Sidewalk Repair Program Zone 5 and Trail Repairs, Contract #878; Waterloo, Iowa . The Contract is incorporated herein by reference as though fully set forth herein. Whenever the Principal shall be and is declared by the Obligee to be in default under the Contract, with the Obligee having performed its obligations in the Contract, then the Surety, acknowledging that time is of the essence, may promptly remedy the default, or shall promptly undertake to: 1. Complete the Contract in accordance with its terms and conditions; or 2. Obtain one or more bids for completing the Contract in accordance with its terms and conditions, and upon determination by the Surety of the lowest responsible bidder, or negotiated proposal, or, if the Obligee elects, upon determination by the Obligee and the Surety jointly of the lowest responsible bidder, or negotiated proposal, arrange for a contract between such party and the Obligee. The Surety will make available as work progresses sufficient funds to pay the cost of completion less the balance of the Contract price. The cost of completion includes responsibilities of the Principal for correction of defective work and completion of the Contract, the Obligee's legal and design professional costs resulting directly from the Principal's default, and liquidated damages or actual damages if no liquidated damages are specified in the Contract. The term "balance of the Contract price" means the total amount payable by the Obligee to the Principal under the Contract and any amendments thereto, Tess the amount properly paid by the Obligee to the Principal; or 3. Determine the amount for which it is liable to the Obligee and pay the Obligee that amount as soon as practicable. In the event this bond is enforced, Principal and Surety agree to indemnify Obligee and hold Obligee harmless from and against any and all costs of enforcement, including but not limited to reasonable attorneys' fees and expenses. Every Surety on this bond shall be deemed and held, any contract to the contrary notwithstanding, to consent to each and all of the following matters, without notice: Performance Bond Page 1 of 2 1. To any extension of time to the Contract in which to perform the Contract. 2. To any change in the plans, specifications, or Contract when such change does not involve an increase of more than twenty percent (20%) of the total Contract price, and shall then be released only as to such excess increase. That no provision of this bond or of any other contract shall be valid which limits to less than one (1) year from the time of the acceptance of the work the right to sue on this bond for defect in workmanship or material not discovered or known to the Obligee at the time such work was accepted. If the Principal performs the Contract, then this bond shall be null and void; otherwise it shall remain in full force and effect. In no event shall the Surety's total obligation exceed the penal amount of this bond Terms used herein shall include, as appropriate, the singular or plural number, or the masculine, feminine or neuter gender. IN WITNESS WHEREOF, the undersigned Principal and Surety have executed this Performance Bond as of PRINCIPAL SURETY B & B Builders & Supply Name By: Title: ire Title: Merchants Bonding Company (Mutual) Name By: Title: Abigail ohr, Attomey-in-Fact [attach Power of Attorney] NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should execute BOND. f this project includes Federal Foods, the -fO104,00- applies to tOO'PaYmPot, 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 where the project is located. Performance Bond Page 2 of 2 Bond No. IAC584630 PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: that B & B Builders & Supply (Name of Contractor) 5728 Sierra Drive, Waterloo, Iowa 50701 (Address of Contractor) a Individual , hereinafter called Principal, (Corporation, Partnership or Individual) and, Merchants Bonding Company (Mutual) (Name of Surety) 2100 Fleur Drive, Des Moines, Iowa 50321 (Address of Surety) hereinafter called Surety, are held and firmly bound unto City of Waterloo (Name of Owner) 220 Clay Street, Cedar Falls, Iowa 50613 (Address of Owner) hereinafter called OWNER, in the penal sum of Harea E Fi,sekvIaid;oo "Dollars,($ 249,787.73 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 CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the OWNER, dated the day of 2015 , a copy of which is hereto attached and made a part hereof for the construction of: F.Y. 2015 Sidewalk Repair Program - Zone 5 and Trail Repairs Contract No. 878 Waterloo, Iowa NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms, SUBCONTRACTORS, and corporations furnishing materials for or performing labor in the prosecution of the WORK provided for in such contract, and any authorized extension or modification thereof, including all amounts due for materials, lubricants, oil, gasoline, coal and coke, repairs on machinery, equipment and tools, consumed or used in connection with the construction of such WORK, and all insurance premiums on said WORK, and for all labor, performed in such WORK whether by SUBCONTRACTOR or otherwise, then this obligation shall be void; otherwise to remain in full force and effect. PROVIDED, FURTHER, that the said Surety for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the WORK to be performed thereunder or the SPECIFICATIONS accompanying the same shall in any wise affect its obligation on this BOND, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the WORK or to the SPECIFICATIONS. PROVIDED, FURTHER, that no final settlement between the OWNER and the CONTRACTOR shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied. IN WITNESS HEREOF, this instrument is executed in four (4) counterparts, each one of (number) which shall be deemed an original, this the day of 2015 ATTEST: B & B Builders & Supply (Principal) Secretary (SEAL) By Witness as to Principal 5728 Sierra Drive Waterloo, Iowa 50701 (Address) Principal (s) 5728 Sierra Drive (Address) Waterloo, Iowa 50701 lVif2100 Fleur Drive itnes to Surety (Address) 1415 28th Street, Suite 300 (Address) West Des Moines, Iowa 50266 Des Moines, Iowa 50321 NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should 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 where the project is located. MERCHANTS BONDING COMPANY. POWER OF ATTORNEY Know All Persons By These Presents, that MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., both being corporations duly organized under the laws of the State of Iowa (herein collectively called the "Companies"), and that the Companies do hereby make, constitute and appoint, individually, John W. Ahrold, Mat DeGroote, John R. Fay, Matthew R. Fay, Karlene K. Kentner, Lauri A. Meneough, Abigail R. Mohr, Jennifer D. Stark of Des Moines and State of Iowa their true and lawful Attomey-in-Fact, with full power and authority hereby conferred in their name, place and stead, to sign, execute, acknowledge and deliver in their behalf as surety any and all bonds, undertakings, recognizances or other written obligations in the nature thereof, subject to the limitation that any such instrument shall not exceed the amount of: FIFTEEN MILLION ($15,000,000.00) DOLLARS and to bind the Companies thereby as fully and to the same extent as if such bond or undertaking was signed by the duly authorized officers of the Companies, and all the acts of said Attomey-in-Fact, pursuant to the authority herein given, are hereby ratified and confirmed. This Power-of-Attomey is made and executed pursuant to and by authority of the following By -Laws adopted by the Board of Directors of the Merchants Bonding Company (Mutual) on April 23, 2011 and adopted by the Board of Directors of Merchants National Bonding, Inc., on October 24, 2011. 'The President, Secretary, Treasurer, or any Assistant Treasurer or any Assistant Secretary or any Vice President shall have power and authority to appoint Attomeys-in-Fact, and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and undertakings, recognizances, contracts of indemnity and other writings obligatory in the nature thereof. The signature of any authorized officer and the seal of the Company may be affixed by facsimile or electronic transmission to any Power of Attomey or Certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship obligations of the Company, and such signature and seal when so used shall have the same force and effect as though manually fixed." In Witness Whereof, the Companies have caused this instrument to be signed and sealed this 6th day of March , 2013 . ,• P$ tIIq,,"........ '•"'-1Ctt'•• � ?Pu( A ••COMPANY (MUTUAL) •NG Cp 'ts,,,,04,1347,4%.440%'�O�99: MERCHANTS NATIONAL BONDING, : '�,E p .�'-o- I": • izti ,0_ �= 2003 ic) :�• 1933 ::3: . y�. • ,•�ti By 7,& •,.. ..., ll,p1l1lX7'1`,'', �•• •.. STATE OF IOWA COUNTY OF POLK ss. President On this 6th day of March 2013 , before me appeared Larry Taylor, to me personally known, who being by me duly swom did say that he is President of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC.; and that the seals affixed to the foregoing instrument is the Corporate Seals of the Companies; and that the said instrument was signed and sealed in behalf of the Companies by authority of their respective Boards of Directors. In Testimony Whereof, I have hereunto set my hand and affixed my Official Seal at the City of Des Moines, Iowa, the day and year first above written. STATE OF IOWA COUNTY OF POLK ss. MARANDA GREENWALT Commission Number 770312 My Commission Expires '" October 28, 2014 4, Notary Public, Polk County, Iowa I, William Wamer, Jr., Secretary of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., do hereby certify that the above and foregoing is a true and correct copy of the POWER-OF-ATTORNEY executed by said Companies, which is still in full force and effect and has not been amended or revoked. In Witness Whereof, I have hereunto set my hand and affixed the seal of the Companies on this day of , 2015 . ,,,,,,,, quay•••.•.. ,..,,•',,1iWadi ••••1 .***.09.-C-°,1. •., • ii, ' ` = • • Q•:� 1933 c• • Secretary %.1.0 2003 ;�.�= :tib. _ •may: ,s► ,r` •• .4g1111PIgN14`, POA 0014 (11/11) Bond No. IAC584630 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: That we, B & B Builders & Supply of 5728 Sierra Drive, Waterloo, Iowa 50701 (the "Principal"), and Merchants Bonding Company (Mutual) of 2100 Fleur Drive, Des Moines, Iowa 50321 (the "Surety"), are held and firmly bound unto the City of Waterloo, Iowa (the "Obligee"), in the penal sum of Two Hundred Forty -Nine Thousand Seven Hundred Eighty -Seven and 73/100 Dollars ($ —249,787.73— ), lawful money of the United States, for ttte payment of said sum in connection with a contract (the "Contract") dated on or about UA ,,hQ , ► C for the purpose of F.Y. 2015 Sidewalk Repair Program Zone 5 and Trail Repairs, Contract #878; Waterloo, Iowa . The Contract is incorporated herein by reference as though fully set forth herein. Whenever the Principal shall be and is declared by the Obligee to be in default under the Contract, with the Obligee having performed its obligations in the Contract, then the Surety, acknowledging that time is of the essence, may promptly remedy the default, or shall promptly undertake to: 1. Complete the Contract in accordance with its terms and conditions; or 2. Obtain one or more bids for completing the Contract in accordance with its terms and conditions, and upon determination by the Surety of the lowest responsible bidder, or negotiated proposal, or, if the Obligee elects, upon determination by the Obligee and the Surety jointly of the lowest responsible bidder, or negotiated proposal, arrange for a contract between such party and the Obligee. The Surety will make available as work progresses sufficient funds to pay the cost of completion less the balance of the Contract price. The cost of completion includes responsibilities of the Principal for correction of defective work and completion of the Contract, the Obligee's legal and design professional costs resulting directly from the Principal's default, and liquidated damages or actual damages if no liquidated damages are specified in the Contract. The term "balance of the Contract price" means the total amount payable by the Obligee to the Principal under the Contract and any amendments thereto. less the amount properly paid by the Obligee to the Principal; or 3. Determine the amount for which it is liable to the Obligee and pay the Obligee that amount as soon as practicable. In the event this bond is enforced, Principal and Surety agree to indemnify Obligee and hold Obligee harmless from and against any and all costs of enforcement, including but not limited to reasonable attorneys' fees and expenses. Every Surety on this bond shall be deemed and held, any contract to the contrary notwithstanding, to consent to each and all of the following matters, without notice: Performance Bond Page 1 of 2 1. To any extension of time to the Contract in which to perform the Contract. 2. To any change in the plans, specifications, or Contract when such change does not involve an increase of more than twenty percent (20%) of the total Contract price, and shall then be released only as to such excess increase. 3. That no provision of this bond or of any other contract shall be valid which limits to less than one (1) year from the time of the acceptance of the work the right to sue on this bond for defect in workmanship or material not discovered or known to the Obligee at the time such work was accepted. If the Principal performs the Contract, then this bond shall be null and void; otherwise it shall remain in full force and effect. In no event shall the Surety's total obligation exceed the penal amount of this bond. Terms used herein shall include, as appropriate, the singular or plural number, or the masculine, feminine or neuter gender. IN WITNESS WHEREOF, the undersigned Principal and Surety have executed this Performance Bond as of PRINCIPAL B & B Builders & Supply Name Title: tivA SURETY Merchants Bonding Company (Mutual) Name By: Title: Abigail Mohr, Attomey-in-Fact [attach Power of Attorney] NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should execute BOND. If this project includes -Federal Funds, the followingapplies to the payment 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 where the project is located. Performance Bond Page 2 of 2 Bond No. IAC584630 PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: that B & B Builders & Supply (Name of Contractor) 5728 Sierra Drive, Waterloo, Iowa 50701 (Address of Contractor) Individual , hereinafter called Principal, (Corporation, Partnership or Individual) and, Merchants Bonding Company (Mutual) (Name of Surety) 2100 Fleur Drive, Des Moines, Iowa 50321 (Address of Surety) hereinafter called Surety, are held and firmly bound unto City of Waterloo (Name of Owner) 220 Clay Street, Cedar Falls, Iowa 50613 (Address of Owner) hereinafter called OWNER, in the penal sum of TwoHundred d rEtForty -gsleh‘V and 731100 tEZ enDollars,($ 249,787.73 ) 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 CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the OWNER, dated the day of 2015 , a copy of which is hereto attached and made a part hereof for the construction of F.Y. 2015 Sidewalk Repair Program - Zone 5 and Trail Repairs Contract No. 878 Waterloo, Iowa NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms, SUBCONTRACTORS, and corporations furnishing materials for or performing labor in the prosecution of the WORK provided for in such contract, and any authorized extension or modification thereof, including all amounts due for materials, lubricants, oil, gasoline, coal and coke, repairs on machinery, equipment and tools, consumed or used in connection with the construction of such WORK, and all insurance premiums on said WORK, and for all labor, performed in such WORK whether by SUBCONTRACTOR or otherwise, then this obligation shall be void; otherwise to remain in full force and effect. PROVIDED, FURTHER, that the said Surety for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the WORK to be performed thereunder or the SPECIFICATIONS accompanying the same shall in any wise affect its obligation on this BOND, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the WORK or to the SPECIFICATIONS. PROVIDED, FURTHER, that no final settlement between the OWNER and the CONTRACTOR shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied. IN WITNESS HEREOF, this instrument is executed in four (4) counterparts, each one of (number) which shall be deemed an original, this the day of 2015 . ATTEST: (Principal) Secretary (SEAL) Witness as to Principal 5728 Sierra Drive B & B Builders & Supply BY /21 Principal 5728 Sierra Drive (s) (Address) Waterloo, Iowa 50701 (Address) Waterloo, Iowa 50701 Merchants Bonding Company (Mutual) ATTEST: WitnesastoSu 1415 28th Street, Suite 300 (Address) West Des Moines, Iowa 50266 By ura orney-i -Fac Abigail R. Mohr 2100 Fleur Driv (Address) Des Moines, Iowa 50321 NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should execute BOND. P , Owing alaiD I.Pvt 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 where the project is located. MERCHANTS BONDING COMPANY, POWER OF ATTORNEY Know All Persons By These Presents, that MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., both being corporations duly organized under the laws of the State of Iowa (herein collectively called the "Companies"), and that the Companies do hereby make, constitute and appoint, individually, John W. Ahrold, Mat DeGroote, John R. Fay, Matthew R. Fay, Karlene K. Kentner, Lauri A. Meneough, Abigail R. Mohr, Jennifer D. Stark of Des Moines and State of Iowa their true and lawful Attomey-in-Fact, with full power and authority hereby conferred in their name, place and stead, to sign, execute, acknowledge and deliver in their behalf as surety any and all bonds, undertakings, recognizances or other written obligations in the nature thereof, subject to the limitation that any such instrument shall not exceed the amount of: FIFTEEN MILLION ($15,000,000.00) DOLLARS and to bind the Companies thereby as fully and to the same extent as if such bond or undertaking was signed by the duly authorized officers of the Companies, and all the acts of said Attomey-in-Fact, pursuant to the authority herein given, are hereby ratified and confirmed. This Power-of-Attomey is made and executed pursuant to and by authority of the following By -Laws adopted by the Board of Directors of the Merchants Bonding Company (Mutual) on April 23, 2011 and adopted by the Board of Directors of Merchants National Bonding, Inc., on October 24, 2011. 'The President, Secretary, Treasurer, or any Assistant Treasurer or any Assistant Secretary or any Vice President shall have power and authority to appoint Attomeys-in-Fact, and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and undertakings, recognizances, contracts of indemnity and other writings obligatory in the nature thereof. The signature of any authorized officer and the seal of the Company may be affixed by facsimile or electronic transmission to any Power of Attomey or Certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship obligations of the Company, and such signature and seal when so used shall have the same force and effect as though manually fixed." In Witness Whereof, the Companies have caused this instrument to be signed and sealed this 6th day of March , 2013 . STATE OF IOWA COUNTY OF POLK ss. .°40 ,CO,J�A• 2,ORP0,9 •.q' ' a • 1933 • ▪ • MERCHANTS BONDING COMPANY (MUTUAL) MERCHANTS NATIONAL BONDING, INC. By President On this 6th day of March , 2013 , before me appeared Larry Taylor, to me personally known, who being by me duly swom did say that he is President of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC.; and that the seals affixed to the foregoing instrument is the Corporate Seals of the Companies; and that the said instrument was signed and sealed in behalf of the Companies by authority of their respective Boards of Directors. In Testimony Whereof, I have hereunto set my hand and affixed my Official Seal at the City of Des Moines, Iowa, the day and year first above written. STATE OF IOWA COUNTY OF POLK ss. MARANDA GREENWALT Rf• Commission Number 770312 My Commission Expires O'"A October 28, 2014 4u� 01 I Notary Public, Polk County, Iowa I, William Wamer, Jr., Secretary of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., do hereby certify that the above and foregoing is a true and correct copy of the POWER-OF-ATTORNEY executed by said Companies, which is still in full force and effect and has not been amended or revoked. In Witness Whereof, I have hereunto set my hand this day of , 0}2k015 . =. = 2003 •'n POA 0014 (11/11) .t"" and affixed the seal of the Companies on •c. 1933 : e' • Secretary Bond No. IAC584630 PERFORMANCE BOND KNOW ALL MEN BY THESE PRESENTS: That we, B & B Builders & Supply of 5728 Sierra Drive, Waterloo, Iowa 50701 (the "Principal"), and Merchants Bonding Company (Mutual) of 2100 Fleur Drive, Des Moines, Iowa 50321 (the "Surety"), are held and firmly bound unto the City of Waterloo, Iowa (the "Obligee"), in the penal sum of Two Hundred Forty -Nine Thousand Seven Hundred Eighty -Seven and 73/100 Dollars ($ —249 787.73— ), lawful money of the United States, for the payment of said sum in connection with a contract (the "Contract") dated on or about Ju r . 1, ?sols- for the purpose of F.Y. 2015 Sidewalk Repair Program Zone 5 and Trail Repairs, Contract #878; Waterloo, Iowa . The Contract is incorporated herein by reference as though fully set forth herein. Whenever the Principal shall be and is declared by the Obligee to be in default under the Contract, with the Obligee having performed its obligations in the Contract, then the Surety, acknowledging that time is of the essence, may promptly remedy the default, or shall promptly undertake to: 1. Complete the Contract in accordance with its terms and conditions: or 2. Obtain one or more bids for completing the Contract in accordance with its terms and conditions, and upon determination by the Surety of the lowest responsible bidder, or negotiated proposal, or, if the Obligee elects, upon determination by the Obligee and the Surety jointly of the lowest responsible bidder, or negotiated proposal, arrange for a contract between such party and the Obligee. The Surety will make available as work progresses sufficient funds to pay the cost of completion less the balance of the Contract price. The cost of completion includes responsibilities of the Principal for correction of defective work and completion of the Contract, the Obligee's legal and design professional costs resulting directly from the Principal's default, and liquidated damages or actual damages if no liquidated damages are specified in the Contract. The term "balance of the Contract price" means the total amount payable by the Obligee to the Principal under the Contract and any amendments thereto, less the amount properly paid by the Obligee to the Principal; or 3. Determine the amount for which it is liable to the Obligee and pay the Obligee that amount as soon as practicable. In the event this bond is enforced, Principal and Surety agree to indemnify Obligee and hold Obligee harmless from and against any and all costs of enforcement, including but not limited to reasonable attorneys' fees and expenses. Every Surety on this bond shall be deemed and held, any contract to the contrary notwithstanding, to consent to each and all of the following matters, without notice: Performance Bond Page 1 of 2 1. To any extension of time to the Contract in which to perform the Contract. 2. To any change in the plans, specifications, or Contract when such change does not involve an increase of more than twenty percent (20%) of the total Contract price, and shall then be released only as to such excess increase. 3. That no provision of this bond or of any other contract shall be valid which limits to less than one (1) year from the time of the acceptance of the work the right to sue on this bond for defect in workmanship or material not discovered or known to the Obligee at the time such work was accepted. If the Principal performs the Contract, then this bond shall be null and void; otherwise it shall remain in full force and effect. In no event shall the Surety's total obligation exceed the penal amount of this bond. Terms used herein shall include, as appropriate, the singular or plural number, or the masculine, feminine or neuter gender. IN WITNESS WHEREOF, the undersigned Principal and Surety have executed this Performance Bond as of PRINCIPAL SURETY B & B Builders & Supply Merchants Bonding Company (Mutual) Name Name By /41e-exi-464,c,%,-- Title: 69.a•«)1 By: Title: Abigail - Mohr, Attomey-in-Fact [attach Power of Attorney] NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should execute BOND_ If this project includes Federal Funds, the fallowing applies to the payment 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 where the project is located. Performance Bond Page 2 of 2 Bond No. IAC584630 PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS: that B & B Builders & Supply (Name of Contractor) 5728 Sierra Drive, Waterloo, Iowa 50701 (Address of Contractor) a Individual , hereinafter called Principal, (Corporation, Partnership or Individual) and, Merchants Bonding Company (Mutual) (Name of Surety) 2100 Fleur Drive, Des Moines, Iowa 50321 (Address of Surety) hereinafter called Surety, are held and firmly bound unto Ci of Waterloo (Name of Owner) 220 Clay Street, Cedar Falls, Iowa 50613 (Address of Owner) hereinafter called OWNER, in thepenal sum of Two Hundred Forty-MneThousand Seven ($249,787.73 Hundred Eighty -Seven and 73/100 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 CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the OWNER, dated the day of 2015 , a copy of which is hereto attached and made a part hereof for the construction of: F.Y. 2015 Sidewalk Repair Program - Zone 5 and Trail Repairs Contract No. 878 Waterloo, Iowa NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms, SUBCONTRACTORS, and corporations furnishing materials for or performing labor in the prosecution of the WORK provided for in such contract, and any authorized extension or modification thereof, including all amounts due for materials, lubricants, oil, gasoline, coal and coke, repairs on machinery, equipment and tools, consumed or used in connection with the construction of such WORK, and all insurance premiums on said WORK, and for all labor, performed in such WORK whether by SUBCONTRACTOR or otherwise, then this obligation shall be void; otherwise to remain in full force and effect. PROVIDED, FURTHER, that the said Surety for value received hereby stipulates and agrees that no change, extension of time, alteration or addition to the terms of the contract or to the WORK to be performed thereunder or the SPECIFICATIONS accompanying the same shall in any wise affect its obligation on this BOND, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract or to the WORK or to the SPECIFICATIONS. PROVIDED, FURTHER, that no final settlement between the OWNER and the CONTRACTOR shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied. IN WITNESS HEREOF, this instrument is executed in four (4) counterparts, each one of (number) which shall be deemed an original, this the day of 2015 . ATTEST: (Principal) Secretary (SEAL) Witness as to Principal 5728 Sierra Drive (Address) B & B Builders & Supply Principal By IlLf (s) 5728 Sierra Drive (Address) Waterloo, Iowa 50701 Waterloo, Iowa 50701 Merchants Bonding Company (Mutual) fr,y 2100 Fleur Drive Wit ess -s to Surety (Address) 1415 28th Street, Suite 300 (Address) West Des Moines, Iowa 50266 Des Moines, Iowa 50321 NOTE: Date of BOND must not be prior to date of Contract. If CONTRACTOR is Partnership, all partners should execute BOND. If this project includes Federal Funds, the following applies to the payment 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 where the project is located. MERCHANTS BONDING COMPANY POWER OF ATTORNEY Know All Persons By These Presents, that MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., both being corporations duly organized under the laws of the State of Iowa (herein collectively called the "Companies"), and that the Companies do hereby make, constitute and appoint, individually, John W. Ahrold, Mat DeGroote, John R. Fay, Matthew R. Fay, Karlene K. Kentner, Lauri A. Meneough, Abigail R. Mohr, Jennifer D. Stark of Des Moines and State of Iowa their true and lawful Attomey-in-Fact, with full power and authority hereby conferred in their name, place and stead, to sign, execute, acknowledge and deliver in their behalf as surety any and all bonds, undertakings, recognizances or other written obligations in the nature thereof, subject to the limitation that any such instrument shall not exceed the amount of: FIFTEEN MILLION ($15,000,000.00) DOLLARS and to bind the Companies thereby as fully and to the same extent as if such bond or undertaking was signed by the duly authorized officers of the Companies, and all the acts of said Attorney -in -Fact, pursuant to the authority herein given, are hereby ratified and confirmed. This Power-of-Attomey is made and executed pursuant to and by authority of the following By -Laws adopted by the Board of Directors of the Merchants Bonding Company (Mutual) on April 23, 2011 and adopted by the Board of Directors of Merchants National Bonding, Inc., on October 24, 2011. 'The President, Secretary, Treasurer, or any Assistant Treasurer or any Assistant Secretary or any Vice President shall have power and authority to appoint Attomeys-in-Fact, and to authorize them to execute on behalf of the Company, and attach the seal of the Company thereto, bonds and undertakings, recognizances, contracts of indemnity and other writings obligatory in the nature thereof. The signature of any authorized officer and the seal of the Company may be affixed by facsimile or electronic transmission to any Power of Attorney or Certification thereof authorizing the execution and delivery of any bond, undertaking, recognizance, or other suretyship obligations of the Company, and such signature and seal when so used shall have the same force and effect as though manually fixed." In Witness Whereof, the Companies have caused this instrument to be signed and sealed this 6th day of March , 2013 . STATE OF IOWA COUNTY OF POLK ss. ,ow,444h," yi'4p O/pq:C10 -�` -a- v= 2003 0 4"0w41400,'` • ONO C0�••• �O�P -o- 11" • • :a. 1933 •'c' • a•• MERCHANTS BONDING COMPANY (MUTUAL) MERCHANTS NATIONAL BONDING, INC. By President On this 6th day of March , 2013 , before me appeared Larry Taylor, to me personally known, who being by me duly swom did say that he is President of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC.; and that the seals affixed to the foregoing instrument is the Corporate Seals of the Companies; and that the said instrument was signed and sealed in behalf of the Companies by authority of their respective Boards of Directors. In Testimony Whereof, I have hereunto set my hand and affixed my Official Seal at the City of Des Moines, Iowa, the day and year first above written. STATE OF IOWA COUNTY OF POLK ss. MARANDA GREENWALT Commission Number 770312 My Commission Expires ovo. October 28, 2014 Notary Public, Polk County, lowa I, William Wamer, Jr., Secretary of the MERCHANTS BONDING COMPANY (MUTUAL) and MERCHANTS NATIONAL BONDING, INC., do hereby certify that the above and foregoing is a true and correct copy of the POWER-OF-ATTORNEY executed by said Companies, which is still in full force and effect and has not been amended or revoked. In Witness Whereof, I have hereunto set my hand and affixed the seal of the Companies on this day of , 2015 . ,,,,.•44414,114 POA 0014 (11/11) • p040 C0�••• . • • it.'wPOq..09. • • .• - • 19 - �• 3'Secretary • .y :c•