HomeMy WebLinkAboutMunicipal Pipe Tool Co., LLC-2/9/2015MAINTENANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That, Municipal Pipe Tool Co., LLC of
Bond No. IAC583357
Hudson. IA
as Principal, and the Merchants Bonding Company (Mutual) as Surety,
are held and firmly bound unto City of Waterloo, Iowa in the
penal sum of Seven Hundred Sixty Nine Thousand Three Hundred Ninety Dollars and 87/100
($ 769,390.87 )
Dollars, lawful money of the United States of America, for the payment of which, well and truly to be made,
the Principal and Surety bind themselves, their and each of their heirs, executors, administrators, successors
and assigns, jointly and severalty, firmly by these presents.
Whereas, the said Principal entered into a certain contract. with City of Waterloo, Iowa
To furnish all the material and labor necessary for the construction of Sanitary Sewer Improvements,
Service Areas No. 15 and 16, Phase I CIP Pipe Lining, City Contract No. 866
in Waterloo, IA In conformity with Certain specifications; and
Whereas, a further condition of said contract is that the said Principal should furnish a bond in
indemnity, guaranteeing to remedy any defects in workmanship or materials that may develop in
said work within a period of Two ( 2 ) years from the date of acceptance of the work
under said contract; and
Whereas, the said Merchants Bonding Company (Mutual) for a valuable consideration,
has agreed to _join with said Principal in such bond or guarantee, indemnifying said
City of Waterloo, Iowa
Now, therefore, the condition of this obligation is such, that if the said Principal shall, at his own cost
and expense, remedy any and all defects that may develop in said work within the period
of Two ( 2 ) years from the date of acceptance of the work under said contract, by
reason of bad workmanship or poor material used in the construction of said work, and shall keep all Work
in continuous good repair during said period, and shall in all other respects, comply with all the terms and
condition of said contract with respect to maintenance and repair of said work, then this obligation to be
null and void; otherwise to be and remain in full force and virtue in law.
In Witness whereof, we have hereunto set our hands and seats this 1st
day of December , 2014.
Municipal Pipe Tool Co., LLC
Principal
By: �� � tom' b� Ct.J L.`t_
Sharon Waschkat
Merchants Bonding Co an (Mutual)
Sure
Chief Operations Officer
Mone K. Young
MERCHANT+S
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,
Dione R. Young
its true and lawful Attomey-in-Fact, with full power and authority hereby conferred to sign, execute and acknowledge, at any place
within the United States, the following surety bond:
Surety Bond #: IAC583357
Principal: Municipal Pipe Tool Co., LLC
Obligee: City of Waterloo, Iowa
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, recagnlzances, 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 23rd day of July, 2014.
STATE OF IOWA
COUNTY OF POLK ss.
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_.f= 2003 1.01
MERCHANTS BONDING COMPANY (MUTUAL)
MERCHANTS NATIONAL BONDING, INC.
President
On this 23rd day of July , 2014 , 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 afr ced 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.
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WENDY WOODY
Commission Number 784654
. My Commission Expires
�owP June 20, 2017
STATE OF IOWA Notary Public, Polk County, towwa
COUNTY OF POLK ss. tY
1, William Warner, 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,
whicr 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 1st day of December , 2014
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