HomeMy WebLinkAboutAspro-3/1/2010Bond No. 2108245
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, Aspro, Inc. , of Waterloo IA
(hereinafter called the Principal), and North American Specialty Insurance Company
of Manchester, NH
(hereinafter called the Surety). are held and firmly bound unto the City of Waterloo
(hereinafter called the Obligee), In the penal sum of Two Minion Four Hundred Twenty,
Seven Thousand Six Hundred Fifty Seven and 53/100 Dollars
($2,427,657.51. lawful money of the United States, to payment of which sum, well and
truly to be made, the Principal here firmly binds himseif/themseives, his/their heirs,
executors, and administrators, 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 s day of
h /9i r c i , 281, enter into a written contract with the City
of Waterloo, lowa, for the construction of
F.Y. 2010 Asphalt Overlay Program, Contract No. 771 ,
a copy of which contract, together with all of its terms, covenants, conditions, and
stipulatlons,;is incorporated herein and made a part hereof as full and completely as
if said contract were recited 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
subcontractors, all just claims due them for labor performed or materials furnished in
the performance of the contract on account of which 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
Surety shall not be liable to said persons, firms, or corporation 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 all respects fulfil) 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 ail 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.
FORM OF BOND PAGE 1 OF 2 PAGES
Every Surety an this bond shall be deemed and held, any contract to the
contrary notwithstanding, to consent without notice:
1. To any extension of time to the contract in which to perform the
contract.
2. To any change in the pians, specifications, or contract when such
change does not involve an increase of more than twenty percent
(20%) of the total contract price, and shall hien 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 (1) year from the time of the acceptance
of the work the right`to sue on this bond for defect 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 tr zN ,241q
Aspro, Inc.
Principal
r n
North American Specialty Insurance Company
Surety
Attorney -in -Fact Dia a S. Riley, Attorney-in-fact
FORM OF BOND PAGE 2 OF 2 PAGES
Bond No. 2108245
PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS: that
Aspro, Inc.
(Name of Contractor)
P.O. Box 2620, Waterloo, IA 50704
(Address of Contractor)
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 of Owner)
715 Mulberry Street, Waterloo, IA 50703
(Address of owner)
hereinafter called OWNER, in the penal sum of ** Dollars, $( 2,427,657.53 )
** Two Million Four Hundred Twenty Seven Thousand Six Hundred Fifty Seven and 53/100
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 ,M / c t/
2010 , a copy of which is hereto attached and made a part hereof for the construction of:
F.Y. 2010 Asphalt Overlay Program, Contract No. 771
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 shah in
any wise affect its obligation on this 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 deemed an original, this the
2010
ATTEST:
� 1 rPrITLC_'. ✓ )
ifs (Principal) Secretary
(SEAL)
Witness as to Prin
(r -ht Y)1 ' rr)a'1
P.O. Box 2620
(Address)
Waterloo, IA 50704
ATTEST:
Aspro, Inc.
day of t'tl%G/-,
ByL
Principal
r ^)
P.O. box 2620
(Address)
Waterloo, IA 50704
North American Specialty Insurance Company
Surety
By f�
Attorney-in-Fedt
l, -&L ( L P.O. Box 9207
W tness as to Sure Cindy Bennett (Address)
Des Moines, IA 50306-9207
P.O. Box 9207
(Address)
Des Moines, IA 50306-9207
Dianf S. Riley
NOTE: Date of BOND must 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 Attorney(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
law, 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 Intemational 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."
4'4.4004, GGA. , PZIONAL /`�o�io
4 rc?z By 14'CP°..;�`I'G`�e
�F�
SEAL — : Steven P. Anderson, President & Chief Executive Officer of Washington International Insurance Company
1:-s 1073 qrp & Senior Vice President of North American Specialty Insurance Company a 2-
h 9aptps�4:16 `
///,�rhll l IIP.,U�,
By
David M. Layman, Senior Vice Presidengt International Insurance Company
& Vice President of North American Specialty Insurance Company
ofWashinon Inrn
SEAL
t.
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 •
State of Illinois
County of Du Page
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 companies.
ss:
North American Specialty Insurance Company
Washington International Insurance Company
"OFFICIAL &FAL'
NNA D. SILL ENS
Notary Public, State of Illinois
My Commission Expires 10/06/2011
o%� ,AtkikAz
1✓/l.�t �l./.
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 Attomey given by said North
American Specialty Insurance Company and Washington International Insurance Company, which is still in full force and effect.
IN WITNESS WHEREOF, I have set my hand and affixed the seals of the Companies this / day of h,,^/1e4 C/41 , 20 10
James A. Carpenter, Vice President & Assistant Secretary of Washington International Insurance Company &
North American Specialty Insurance Company