HomeMy WebLinkAboutAspro Inc-3/14/2011 (2)Bond No. 2140402
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, Aspro, Inc. , Of Waterloo IA
(hereinafter Med the Principal), and North American Specialty Insurance Company
of Manchester , NH •
(hereinafter card the Surely). ere held and firmly bound unto the City of Waterloo
(hereinafter tamed the Obligee), In the penal Sum of Three Million Eight Hundred
Seventy Eight Thousand Two Hundred Eighty One and 87/100
t$ 3,878,281.87), (awful money of the United States, to payment of which sum, well and
truly to be made, the Principal here tinny binds hhnself therreives, his/their heirs,
executors, and adminfsbators, and the said Surety binds himself, his successors,
assigns, executors, and administrators, jointly and severally, firmly by these
presents
THE CONDiTION OF THIS OBLIGATION is such that,
WHEREAS the above bounden Principal did, on the / `Y day of
to r14 1 i , 2011 • enter into a written conte with the City
of Waterloo, Iowa, for the construction of
F.Y. 2011 Asphalt Overlay Program, Contract No. 796 ,
a copy of which contract, together with all of its terms, covenants, condliions, and
stlpulations,;is incorporated herein and made a part hereof as full and completely as
if said cantractwere rued at length herein; and
WHEREAS, the Principal and Surety on this bond hereby agree to pay to all
persons, firms or corporations having contracts directly with the Principal or with
suboont ac Lois; all just claims due them for labor performed or materials furnished it.
the performance of the contract on account of which bond Is given when the same
are not salaried out of the portion of the contract price which the public corporation
is required to retain until completion of the pubfo improvement, but the Principal and
Surety shal'not be liable to said persons, firms, or corporation unless the claims of
said claimants against said porton of the contract price shall have been established
as provided by law.
Now, if the Principal shall in all respects fulfil his said contract according to
the terms and tenor thereof, and shall satisfy al claims and demands htcurred for
the same, and shall fully Indemnify and save harmless the Obligee from all costs
and damages which it may suffer by reason of failure to do so, and shall fully
reimburse and repay the Obligee al outlays and expenses which it may incur in
making good any such default, then the obligation is to be void and of no effect,
otherwise to remain in full force and effect.
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Bond No. 2140402
PAYMENT BOND
KNOW AIL MEN BY THESE PRESENTS: that
Aspro, Inc.
(Mame of c?actos)
P.O. Box 2620, Waterloo, IA 50704
(Address of
a Corporation , hereinafter called Principal,
(Corporation, Partnership or Individual)
and North American Specialty Insurance Company
(Name of Surety)
650 Elm Street, Manchester, NH 03101
(Address of Surety)
hereinafter called Surety, are held and firmly bound unto
City of Waterloo
(Name or Owner)
715 Mulberry Street, Waterloo, IA 50703
(Address of Owner)
hereinafter called OWNER. in the penal sum of -- ' Dollars, $( 3,878,281.87 )
" Three Million Eight Hundred Seventy Eight Thousand Two Hundred Eighty One and 87/100
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 TIDE OBLIGATION is such that whereas, the Principal entered into a
certain contract with the OWNER, dated the / �' day ofe tl
2011. a copy of which is hereto attached and made a part hereof for the construction of:
F.Y. 2011 Asphalt Overlay Program, Contract No. 796
NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms,
SUBCONTRACTORS, and corporations fim ishing materials for or performing labor in the
prosecution of the WORK provided for in such contract, and any authorized extension or
modification thereof; inoluding 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 fill force and effect.
PROVIDED, FURANA, 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 SPBCIFICATtONS accompanying the same shall in
any wise affect its obligation on Ibis 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 6 counterparts, each one of
(number)
which shall be damned an original, this the % i day of in r9 f C
20 11
ATTEST:
Aspro, Inc.
(SEAL) - . By
m rnJj r()
Witness as to?
P.O. Box 2i
(Address)
Waterloo, IA 50703
ATTEST:
Whewes to Surety Cindy Bennett
Principal
(Address)
Waterloo, IA 50703
North American Specialty Insurance Company
Surety
By
Attorney -in -F- Dianne S. Riley, Attomey-in-fact
P.O. Box 9207
(Address)
P.C. Box 9207 Des Moines, IA 50306-9207
(Address)
Des Moines, IA 50306-9207
NOTE: Date of BOND trust not be prior to date of Contract.
If CONTRACTOR is Partnership, all partners should execute BOND.
NAS SURETY GROUP
NORTH AMERICAN SPECIALTY INSURANCE COMPANY
WASHINGTON INTERNATIONAL INSURANCE COMPANY
GENERAL POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, THAT North American Specialty Insurance Company, a corporation duly organized and existing under
laws of the State of New Hampshire, and having its principal office in the City of Manchester, New Hampshire, and Washington International
Insurance Company, a corporation organized and existing under the laws of the State of New Hampshire and having its principal office in the City of
Itasca, Illinois, each does hereby make, constitute and appoint:
JAY D. FREIERMUTH, CRAIG E. HANSEN, CLIFFORD W. AUGSPURGER, DIANNE S. RILEY, BRIAN M. DEIMERLY,
CINDY BENNETT, ANNE CROWNER, TIMOTHY J. McCULLOH, STEPHANIE R. FINNEY, STACY LYNN VENN,
and ANGELA MARIE GROSS JOINTLY OR SEVERALLY
Its true and lawful Attomey(s)-in-Fact, to make, execute, seal and deliver, for and on its behalf and as its act and deed, bonds or other writings
obligatory in the nature of a bond on behalf of each of said Companies, as surety, on contracts of suretyship as are or may be required or permitted by
Taw, regulation, contract or otherwise, provided that no bond or undertaking or contract or suretyship executed under this authority shall exceed the
amount of: TWENTY-FIVE MILLION ($25,000,000.00) DOLLARS
This Power of Attorney is granted and is signed by facsimile under and by the authority of the following Resolutions adopted by the Boards of
Directors of both North American Specialty Insurance Company and Washington International Insurance Company at meetings duly called and held
on the 24th of March, 2000:
"RESOLVED, that any two of the Presidents, any Managing Director, any Senior Vice President, any Vice President, any Assistant Vice President,
the Secretary or any Assistant Secretary be, and each or any of them hereby is authorized to execute a Power of Attorney qualifying the attorney named
in the given Power of Attorney to execute on behalf of the Company bonds, undertakings and all contracts of surety, and that each or any of them
hereby is authorized to attest to the execution of any such Power of Attorney and to attach therein the seal of the Company; and it is
FURTHER RESOLVED, that the signature of such officers and the seal of the Company may be affixed to any such Power of Attorney or to any
certificate relating thereto by facsimile, and any such Power of Attorney or certificate bearing such facsimile signatures or facsimile seal shall be
binding upon the Company when so affixed and in the future with regard to any bond, undertaking or contract of surety to which it is attached."
�oQF.Gti^�"''G{iP'��4�i
5 G
By SFAL : n c Steven P. Anderson, President & Chief Executive Officer of Washington International Insurance Company
les epi � - & Senior Vice President of North American Specialty Insurance Company41/441/11111110
BY
David M. Layman, Senior Vice Presideafof Washington international Insurance Company
& Vice President of North American Specialty Insurance Company
IN WITNESS WHEREOF, North American Specialty Insurance Company and Washington International Insurance Company have caused their
official seals to be hereunto affixed, and these presents to be signed by their authorized officers this 30th day of September , 2008 .
North American Specialty Insurance Company
Washington International Insurance Company
State of Illinois
County of Du Page as'
On this 30th day of September 20 08 , before me, a Notary Public personally appeared Steven P. Anderson , President and CEO of
Washington International Insurance Company and Senior Vice President of North American Specialty Insurance Company and David M. Layman ,
Senior Vice President of Washington International Insurance Company and Vice President of North American Specialty Insurance Company,
personally known to me, who being by me duly sworn, acknowledged that they signed the above Power of Attorney as officers of and
acknowledged said instrument to be the voluntary act and deed of their resnective comnanies.
OFFICIAL SEAT:
D. WINS
Notary Public, State of Illinois
y Commission Expires 10/0672011
Donna D. Sklens, Notary Public
I, James A. Carpenter , the duly elected Assistant Secretary of North American Specialty Insurance Company and Washington
International Insurance Company, do hereby certify that the above and foregoing is a true and correct copy of a Power of Attorney given by said North
American Specialty Insurance Company and Washington International Insurance Company, which is still in full force and effect.
Y
IN WITNESS WHEREOF, I have set my hand and affixed the seals of the Companies this / y day of 01,,i)A°t L , 20 11
James A Carpenter, Vice President & Assistant Secretary of Washington International Insurance Company &
North American Specialty Insurance Company