HomeMy WebLinkAboutB & B Builders and Supply-8/16/2010 (2)PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS: that
B & B Builders & Supply
5728 Sierra Drive, Waterloo, Iowa 50701
(Name of Contractor)
(Address of Contractor)
a Individual , hereinafter called Principal,
(Corporation, Partnership or individual)
and Merchants Bonding Company (Mutual)
2100 Fleur Drive, Des Moines, Iowa 50321
(Name of Surety)
(Address of Surety)
hereinafter called Surety, are held and firmly bound unto
City of Waterloo, Iowa
(Name ofOwncr)
(Address of Owner)
hereinafter called OWNER., in the penal sum of One Hundred Eighty Four Thojolltirs, $(184,478.95---)
Four Hundred Seventy Eight & 95/100
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 THIS OBLIGATION is such that whereas, the Principal entered into a
certain contract with the OWNER, dated the / ' day of 4 GJ C .
2010 , a copy of which is hereto attached and made a part hereof for the construction of:
F.Y. 2011 Sidewalk Repair Assessment Program - Zpne 10, Contract No. 781
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 offline, alteration or addition to the terms of the contract or to the WORK or to the
SPECIFICATIONS.
PROVmED. FURTHER, thatno 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 six (6) counterparts, each one of
number
which shall be deemed an original, this the. 1
20 10 .
ATTEST:
(Principst) Seuetary
S )
0 -
Witaeas u to Prtnettel
(Address)
,2"-
5I) 'o
604 Locust Street, Suite 800
(pddrus)
Des Moines, Iowa 50309-3713
B & B Builders & Supply
Priactpd
By aciLn14,4 (s3
5728 Sierra Drive
(Adder)
Waterloo, Iowa 50701
Mers onding p ny Mutual)
Sf-
Dione R. ounQAttorney-
2100 Fleur Drive
.P
esi
en
Des Moines, Iowa 50321
NOTE: Date ofBOND must not bo prior to date of Contract.
If CONTRACTOR is Partnership, all partners should execute BOND.
agent