HomeMy WebLinkAboutVoltmer Inc-9/7/2010` 1 - Bond No. S38 92 43
PUBLIC CONTRACTOR'S BOND
(Iowa)
Know All Men by these Presents:
Proposal ID No. 07-8155-707
County: Black Hawk
That we, Voltmer, Inc.
of Decorah, Iowa (hereinafter called the Principal) and
Employers Mutual Casualty Company
Des Moines, Iowa
of
(hereinafter called the surety) are held and firmly bound unto
the City of Waterloo, Waterloo, Iowa
(hereinafter called the Obligee) in the penal sum of
—Two Hundred Eighty Nine Thousand Nine Hundred Ninety Nine & 65/100—Dollars ($289,999.65 )
lawful money of the United States, to the payment of which sum, well and truly to be made, the Principal
herein firmly binds himself (themselves) their heirs, executors, and administrators, and the said Surety
binds themselves, their 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 day of pg 201
Penter into a written contract with
the City of Waterloo, Iowa
to construct IDOT Traffic Signals Project No. CS -TSF -8155(707)-85-07, US 63 and Ridgeway
Avenue, Waterloo, Black Hawk County, Iowa, per Proposal submitted June 15, 2010
Copy of which contract, together with all of its terms, covenants, conditions, and stipulations is Incorp-
orated herein and made a part hereof as fully and completely as if said contract were recited at length
herein and
Whereas, the principal and sureties on this bond hereby agree to pay to all persons, firms or corporations having con -
rads directly with the principal or with subcontractors all Just claims due them for labor performed or materials
furnished, in the performance of the contract on account of which this bond is given, when the same are not satisfied
out of the portion of the contract price which the public corporation is required to retain until completion of the public
Improvement, but the principal and sureties shall not be liable to said persons firms or corporations unless the claims of
said claimants against said portion of the contract price shall have been established as provided by law.
Now if the principal shall in nil respects fulfill his said contract according to the terms and tenor thereof, and shall
satisfy all claims and demands incurred 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 all
outlive 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 rennin in fait force and effect. •
Every surety on this bond shall be deemed and held, any contract notwithstanding, to consent without notice:
1. To any extension of time to the contractor in which to perform the contract.
2. To any change In the plans specifications or conract, when such change does not involve an increase of more than
twenty per cent (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 year from the
time of the acceptance of the work the right to sue on this bond for defects in workmanship or material not discovered
or known to the Obligee at the time such work was accepted.
IN WITNESS WHEREOF, we have hereunto set our hands and seals this day
of , 2010
By --
M f:'� i8e' twirl
Emplo, ; Mutual Cas, alty C. 'pany
By
Barry A. McGee
Principal.
Surety.
ttorney-in-`=„ct
d Agent -S ='tt of Iowa
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