HomeMy WebLinkAboutBID BOND BID BOND
KNOW ALL MEN BY THESE PRESENTS, that we, Aspro, Inc.
as Principal, and North American Specialty Insurance Company
as Surety are Feld and firmly bound unto the CITY OF WATERLOO , Iowa,hereinafter called
"OWNER," In the penal sum Five Percent of Amount Bid------------------------------------------------------------
Dollars ($ ---5%--- _?lawful money of the United States,for the payment
of which sum will and truly be made, we bind ourselves, our heirs, executors, administrators, and
sr.ieressors, jointly and seVarolly, firmly by these presents. ' The condition of this obligation Is such that
whereas the Principal has submitted the accompanying bid dated the 1 Oth day of February
2Q 14 for F.Y. 2014 Asphalt OverlayP rogram-Contract No. 857,Waterloo, [A
NOW,THEREFORE,
(a)if said Bid shall be rejected,or in the alternate,
(b) If said Bid shalt be accepted and the.Principal shall execute and dcAlver a contract in the farm spodfsed
and shall furnish a bond for his faithful performance of said oontract, and for the payment of all persons
performing labor or furnishing materials in ponneetlon therewith;and slholi in all other respocts,perform the
agreement created by the acceptance of said Bid,
Then this obligation shall be void, otherwise the some shall remain In force and effect; it belrxy expressly
understood and agreed that the liability of the Surety for any and all claims hereunder st,a11, in no event,
exceed the penal areount Of this obligation as herein stated.
By virtue of statutory authority,the full amount of this bid Mond shall be forfeited to the Owner in llquldation of
damages sustained in the event that the Principal fails to execute the contract and provide the bond as
proVided in the specifications or by law.
The Surety, for value received, hereby stipulates and agrees that the obligations of said Surety and its bond
shrill be in no way impaired or affected by any a denslon of the time within which the Owner may accept
such Bid or execute such contract;and said Surety does hereby waive notice of any such extension.
IN WITNESS WHEREOF,the Principal and the Surety, have hereunto set their hands and seals;anal such
of them as are corporations, have caused their corporate seals to to hereto affixed and these proscintY to be
aipned by their proper officers this LQjth day of February ,A.D.201 4
Aspro, Inc. (tigQl}
Principal
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North American Specialty Insurance Company(Sea)}
Witness i Surety f ,�
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By
,
Witness C( dy Bennett Attorn -in- Didne R. Young, Attorney-in-fact
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
Schaumburg,Illinois,each does hereby make,constitute and appoint:
JAY D.FREIERMUTH,CRAIG E.HANSEN,BRIAN M.DEIMERLY,SHIRLEY S.BARTENHAGEN,
CINDY BENNETT,ANNE CROWNER,TIM McCULLOH,STACY VENN,LACEY CRAMBLIT and DIONE R.YOUNG
JOINTLY OR SEVERALLY
Its true and lawful Attomey(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: FIFTY MILLION($50,000,000.00)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 International Insurance Company at meetings duly called and held
on the 9th of May,2012:
"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."
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By
By his Payt�C9
S
'EAL :n= Steven P.Anderson,Senior Vice President of Washington International Insurance Company �+l
WTy tff�3 h.=, &Senior Vice President of North American Specialty Insurance Company O= l
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David M.Layman,Vice President of Washington International Insurance Company
&Vice President of North American Specialty Insurance Company
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 this25th day of January 2013
North American Specialty Insurance Company
Washington International Insurance Company
State'sf Illinois
County of Cook ss:
On this 25th day of January 201 before me,a Notary Public personally appeared Steven P.Anderson ,Senior Vice President of
Washington International Insurance Company and Senior Vice President of North American Specialty Insurance Company and David M.Layman,
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 respective companies.
n.
"OFFICIAL S$AL"
DONNA D.SKLENS
Notary Public,State of Miuois Donna D.Sklens,Notary Public
My Commbsion Eligires 10l06d2t 15
I, Jeffrey Goldberg 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 Attorney 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 1 Oth day of February 20 14
Jeffrey Goldberg,Vice President&Assistant Secretary of
Washington International insurance Company&North American Specialty Insurance Company