HomeMy WebLinkAboutEcinc-3/1/2010Bond #773132P
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, Ecinc , of Cedar Rapids, Iowa (hereinafter
called the Principal), and Developers Surety and Indemnity Company
of Irvine, CA (hereinafter called the Surety), are held and
firmly bound unto the City of Waterloo (hereinafter called the Obligee), in the penal
sum ONE HUNDRED EIGHTY-FOUR THOUSAND NINE HUNDRED NINETY-
FIVE AND NO/100 1 Dollars ($184,995.00), lawful money of the United
States, to payment of which sum, well and truly to be made, the Principal here firmly
binds himself/themselves, 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 19th day of
February , 2010, enter into a written contract with the City
of Waterloo, Iowa, for the construction of F.Y. 2010 ARCH GATE REPLACEMENT
DRY RUN CREEK, CONTRACT NO. 778, a copy of which contract, together with all
of its terms, covenants, conditions, and stipulations, 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 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 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 on 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 plans, specifications, or contract when such
change does not involve an increase of more than twenty percent
(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 (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
19thday of February 2010
Ecinc
Developers Surety and Indemnity Company
Surety
ins K. Peters P.
--in-Fact
FORM OF BOND PAGE 2 OF 2 PAGES
POWER OF ATTORNEY FOR
DEVELOPERS SURETY AND INDEMNITY COMPANY
PO BOX 19725, IRVINE, CA 92623 (949) 263-3300
www.InscoDico.com
KNOW ALL MEN BY THESE PRESENTS, that except as expressly limited, DEVELOPERS SURETY AND INDEMNITY COMPANY does hereby make, constitute
and appoint:
***Amy J. Barton, Robert L. Kollsmith, Michelle R. Gruis, Jacqueline K. Peters, Laura A. Crosby, Ver Jean L.
King, Yukiko Collins, Dee Ann L. Swanson, Vachelle R. Johnston, jointly or severally***
as its true and lawful Attorney(s)-in-Fact, to make. execute, deliver and acknowledge, for and on behalf of said corporation as surety, bonds, undertakings and contracts
of suretyship giving and granting unto said Attomey(s)-in-Fact full power and authority to do and to perform every act necessary. requisite or proper to be done in
connection therewith as the corporation could do, but reserving to the corporation full power of substitution and revocation, and all of the acts of said Attomey(s)-in-
Fact, pursuant to these presents, are hereby ratified and confirmed.
This Power of Attomey is granted and is signed by facsimile under and by authority of the following resolution adopted by the Board of Directors of DEVELOPERS
SURETY AND INDEMNITY COMPANY effective as of November I, 2000:
RESOLVED. that the Chairman of the Board, the President and any Vice President of the corporation be, and that each of them hereby is, authorized to execute
Powers of Attorney, qualifying the Attomey(s)-in-Fact named in the Powers of Attomey to execute, on behalf of the corporation, bonds, undertakings and contracts of
suretyship; and that the Secretary or any Assistant Secretary of the corporation be, and each of them hereby is, authorized to attest the execution of any such Power of
Attorney;
RESOLVED. FURTHER, that the signatures of such officers niay 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 shall be valid and binding upon the corporation when so affixed and in the future with
respect to any bond, undertaking or contract of suretyship to which it is attached.
1N WITNESS WHEREOF, DEVELOPERS SURETY AND INDEMNITY COMPANY has caused these presents to be signed by its respective Executive Vice President
and attested by its Secretary this I st day of December. 2005.
By:
David H. Rhodes, Executive Vice -President
By:
Walter A. Crowell, Secretary
STATE OF CALIFORNIA
COUNTY OF ORANGE
On December 1, 2005 before me, Gina L. Garner, Notary Public (here insert name and title of the officer), personally appeared David H. Rhodes and Walter
A. Crowell, personally known to me (or proved to nie on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument
and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s),
or the entity upon behalf of which the person(s) actedexecuted the instrument.
WITNESS my hand and official seal.
Signature (� C
(SEAL)
CERTIFICATE
GINA L. GARNER
COMM. # 1569561
NOTARY PUBLIC CAUFORNIA
ORANGE COUNTY
The undersigned, as Assistant Secretary, of DEVELOPERS SURETY AND INDEMNITY COMPANY, does hereby certify that the foregoing Power of
Attomey remains in full force and has not been revoked, and furthermore, that the provisions of the resolution of the respective Boards of Directors of said corporation
set forth in the Power of Attorney, is in force as of the date of this Certificate.
This Certificate is executed in the City of Irvine, California, the 1 1'day of Fe,6 e' t. , a (::l 0
By
Albert Hillebrand, Assistant Secretary
ID -1438 (DSI) (Rev. 12/05)
PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS: that
Ecinc
Bond #773132P
(Name of Contractor)
6805 Boulder Dr NW, Cedar Rapids, IA 52405
(Address of Contractor)
a Corporation , hereinafter called Principal,
(Corporation, Partnership or Individual)
and Developers Surety and Indemnity Company
(Name of Surety)
17780 Fitch, Irvine, CA 92614
(Address of Surety)
hereinafter called Surety, are held and firmly bound unto
City of Waterloo, Iowa
(Name of Owner)
City Hall, 715 Mulberry Street, Waterloo, IA 50703
(Address of Owner)
One hundred eighty-four thousand nine hundred
hereinafter called OWNER, in the penal sum of ninety-five & no/icdaollars, $(184, 995.00
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 19th day of February
2010 , a copy of which is hereto attached and made a part hereof for the construction of:
F.Y. 2010 Arch Gate Replacement Dry Run creek, Contract No. 778
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 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 s ix counterparts, each one of
(number)
which shall be deemed an original, this the 19 t h
2010
ATTEST:
(Principal) Secretary
(SEAL)
Witness as to Principal
(Address)
day of February
By (s)
6805 Boulder Dr NW
(Address)
Cedar Rapids, IA 52405
Developers Surety and Indemnity Company
ATTEST: By
Witness as to Surety
L/1 I J LSE
(Address)
Ct iak (CIS Jai 5a yo 1
Surety
n" e Peter "A
l.
Attorney-in-Fact
17780 Fitch
(Address)
Irvine, CA 92614
NOTE: Date of BOND must not be prior to date of Contract.
If CONTRACTOR is Partnership, all partners should execute BOND.
POWER OF ATTORNEY FOR
DEVELOPERS SURETY AND INDEMNITY COMPANY
PO BOX 19725, IRVINE, CA 92623 (949) 263-3300
www.InscoDico.com
KNOW ALL MEN BY THESE PRESENTS, that except as expressly limited, DEVELOPERS SURETY AND INDEMNITY COMPANY does hereby make, constitute
and appoint:
***Amy J. Barton, Robert L. Kollsmith, Michelle R. Gruis, Jacqueline K. Peters, Laura A. Crosby, Ver Jean L.
King, Yukiko Collins, Dee Ann L. Swanson, Vachelle R. Johnston, jointly or severally***
as its true and lawful Attomey(s)-in-Fact, to make, execute, deliver and acknowledge, for and on behalf of said corporation as surety, bonds, undertakings and contracts
of suretyship giving and granting unto said Attorney(s)-in-Fact full power and authority to do and to perform every act necessary, requisite or proper to be done in
connection therewith as the corporation could do, but reserving to the corporation full power of substitution and revocation, and all of the acts of said Attomey(s)-in-
Fact, pursuant to these presents, are hereby ratified and confirmed.
This Power ofAttomey is granted and is signed by facsimile under and by authority of the following resolution adopted by the Board of Directors of DEVELOPERS
SURETY AND INDEMNITY COMPANY effective as of November 1, 2000:
RESOLVED, that the Chairman of the Board, the President and any Vice President of the corporation be, and that each of them hereby is, authorized to execute
Powers of Attorney, qualifying the Attomey(s)-in-Fact named in the Powers of Attorney to execute, on behalf of the corporation, bonds, undertakings and contracts of
suretyship; and that the Secretary or any Assistant Secretary of the corporation be, and each of them hereby is, authorized to attest the execution of any such Power of
Attomey;
RESOLVED, FURTHER that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile,
and any such Power ofAttomey or certificate bearing such facsimile signatures shall be valid and binding upon the corporation when so affixed and in the future with
respect to any bond, undertaking or contract of suretyship to which it is attached.
IN WITNESS WHEREOF, DEVELOPERS SURETY AND INDEMNITY COMPANY has caused these presents to be signed by its respective Executive Vice President
and attested by its Secretary this 1st day of December, 2005.
By:
David H. Rhodes, Executive Vice -President
By:
Walter A. Crowell, Secretary
STATE OF CALIFORNIA
COUNTY OF ORANGE
On December 1, 2005 before me, Gina L. Garner, Notary Public (here insert name and title of the officer), personally appeared David H. Rhodes and Walter
A. Crowell, personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument
and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s),
or the entity upon behalf of which the person(s) acted, executed the instrument.
WITNESS my hand and official seal.
Signature 679'1—a2 -
(SEAL)
CERTIFICATE
GINA L. GARNER
COMM. # 1569561
NOTARY PUBLIC CALIFORNIA
ORANGE COUNTY
Comm. expires y 13, _ `�'
The undersigned, as Assistant Secretary, of DEVELOPERS SURETY AND INDEMNITY COMPANY, does hereby certify that the foregoing Power of
Attorney remains in full force and has not been revoked, and furthermore, that the provisions of the resolution of the respective Boards of Directors of said corporation
set forth in the Power ofAttomey, is in force as of the date of this Certificate.
This Certificate is executed in the City of Irvine, Califomia, the 14+k day of F-tit)r v t ry , D01
By
Albert Hillebrand, Assistant Secretary
ID -1438 (DSI) (Rev. 12/05)