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Home My WebLink AboutKWS Inc-3/14/2011 (2)UNITED FIRE & CASUALTY COMPANY 118 Second Avenue SE, PO Box 73909 Cedar Rapids, Iowa 52407-3909 319-399-5700 (A Stock Company) Bond Number: 54175448 KNOW ALL BY THESE PRESENTS, that K W S INC 1127 LINCOLN STREET, CEDAR FALLS, IA 50613 PERFORMANCE BOND as Principal, hereinafter called Contractor, and UNITED FIRE & CASUALTY COMPANY, a corporation organized under the laws of the State of Iowa, as Surety, hereinafter called Surety, are held and firmly bound unto, CITY OF WATERLOO 715 MUI RFRRY STREFT WATFRLOO IA 50703 as Obligee, hereinafter called Owner, in the amount of One hundred three thousand nine hundred eighty five and 00/100 Dollars ($103.985.00 ), for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns jointly and severally, firmly by these presents. WHEREAS, Contractor has by written agreement dated February 10. 2011 entered into a contract with Owner for TRAFFIC SIGNS ON MULTIPI E ROUTES IN WATFRLOO IOWA ON US 218. MULLAN AVENUF 1ST STRFET FRANKI IN STREET & WASHINGTON STREET. in accordance with drawings and specifications prepared by which contract is by reference made a part hereof, and is hereinafter referred to as the Contract. NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly and faithfully perform said contract, then this obligation shall be null and void; otherwise it shall remain in full force and effect. The Surety hereby waives notice of any alteration or extension of time made by the Owner. Whenever Contractor shall be, and declared by Owner to be in default under the Contract, the Owner having performed Owner's obligations thereunder, the Surety may promptly remedy the default, or shall promptly 1) Complete the Contract in accordance with its terms and conditions, or 2) Obtain a bid or bids for completing the Contract in accordance with its terms and conditions, and upon determination by Surety of the lowest responsible bidder, or, if the Owner elects, upon determination by the Owner and the Surety Signed and sealed this 10th day of March In the presence of: CONT 0002 1000 jointly of the lowest responsible bidder, arrange for a contract between such bidder and Owner, and make available as work progresses (even though there should be a default or a succession of defaults under the contract or contracts of completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the contract price; but not exceeding, including other costs and damages for which the Surety may be liable hereunder, the amount set forth in the first paragraph hereof. The term "balance of the contract price," as used in this paragraph, shall mean the total amount payable by Owner to Contractor under the Contract and any amendments thereto. less the amount properly paid by Owner to Contractor. Any suit under this bond must be instituted before the expiration of two (2) years from the date on which final payment under the contract falls due. No right of action shall accrue on this bond to or for the use of any person or corporation other than the Owner named herein or the heirs, executors, administrators or successors of Owner. ,20 11 KWSINC By By 16hi (PRINCIPAL) VtP (Seal) Scott Poppet UNITED FIRE & CASUALTY COMPANY Home Office — Cedar Rapids, Iowa Certified Copy of Power of Attorney (Original on file at Home Office of Company — See Certification) Bond # 54175448 Obligee 715 MULBERRY ;STREET WATERLOO, IA 50703 KNOW ALL MEN BY THESE PRESENTS, That the UNITED FIRE & CASUALTY COMPANY, a corporation duly organized and existing under the laws of the State of Iowa, and having its principal office in Cedar Rapids, State of Iowa, does make, consti- tute and appoint SCOTT POPPENS, QR MARY KAMMEYER, OR: SUSAN MEYERHOFF, OR RICHARD ARENHOLZ, OR MATTHEW ARENHOLZ, ALL INDIVIDUALLY of 611 ANSBOROUGH AVE, PO BOX 748 WATERLOO, IA 50704 its true and lawful Attorney(s)-in-Fact with power and authority hereby conferred to sign seal and execute in its behalf all law- ful bonds, undertakings and other obligatory instruments of similar nature as follows: $6,000,000.00 and to bind UNITED FIRE & CASUALTY COMPANY thereby as fully and to the same extent as if such instruments were signed by the duly authorized officers of UNITED FIRE & CASUALTY COMPANY and all the acts of saidAttorney, pursuant to the authority hereby given are hereby ratified and confirmed. - The Authority hereby granted shall expire July 9th, 2'011 : unless sooner revoked. This power of Attorney is made and executed pursuant to'and by authority of the following By -Law duly adopted by the Board of Directors of the Company on April 18, 1973. "Article V — Surety Bonds and Undertakings" Section 2, Appointment of Attorney -n -Fact "The President or any Vice president, or any other officer of the Company, may, from time to time, appoint by written certificates attorneys -in -fact to act in behalf of the Company in the execution of policies of insurance, bonds, undertakings and other obligatory instru- ments of like nature. The signature of any officer authorized hereby, and the Corporate seal, may be affixed by facsimile to any power of attorney or special power of attorney or certification of either authorized hereby; such signature and seal, when so used, being adopted by the Company as the original signa- ture of such officer and the original seal of the Company, to be valid and binding upon the company with the same force and effect as though manually affixed. Such attorneys -in -fact, subject to the limitations set forth in their respective certificates of authority shall have full power to bind the Company by their signature and execution of any such instruments and to attach the seal of the Company thereto. The President or any Vice President, the Board of Directors or any other officer of the Company may at any time revoke all power and authority previously given to any attorney-in-fact. IN WITNESS WHEREOF, the UNITED FIRE & CASUALTY COMPANY has caused these �ti�„U,,,,� presents to be signed by its vice president and its corporate seal to be hereto affixed this „44,,` v. 9cr,,' �,� 10th day of March ,2011 . `�9 CORPORATE ° . UNITED FIRE & CASUALTY COMPANY 7-4 -•- zE :SEALY4.. '14t'Aro;``i�r State of .Iowa, County of Linn, ss; On this 10thday of March ,2011 before me personally came Dennis Richmann to me known, who being by me duly sworn, did depose and say: that he resides in Cedar Rapids, State of Iowa; that he is a Vice President of the UNITED FIRE & CASUALTY COMPANY, the corporation described in and which executed the above instrument; that he knows the seal of said corporation; that the seal affixed to the said instrument is such corporate seal; that it was so affixed pursuant to authority given by the Board of Directors of said corporation and that he signed his name thereto pursuant to like authority.and acknowledges same to be the act and deed of said corporation. By V e President Mary A. Jansen Iowa Notarial Seal Commission number 713273 My Commission Expires 10/26/2013 No My Commission expires October 26, 2013_ CERTIFICATION I, David A. Lange, Secretary of UNITED FIRE & CASUALTY COMPANY, do hereby certify that I have compared the foregoing copy of the Power of Attorney and affidavit, and the copy of the Section of the by-laws of said Company as set forth in said Power of Attorney, with the ORIGINALS ON FILE IN THE HOME OFFICE OF SAID COMPANY, and that the same are correct transcripts thereof, and of the whole of the said originals, and that the said Power of Attorney has not been revoked and is now in full force and effect. In testimony whereof I have hereunto subscribed my name and affixed the corporate seal of the said Company this lOth day of March2011 0”"4psrsw�r, QC CORPORATE `��' ,�J BPOA0041 102007