HomeMy WebLinkAboutPERFORMANCE BOND R �
_THE AMERICAN Ii'STITUTE OF ARCHITECTS
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-Bond No. IAC54702
AlA Document A_312
Performance Bond
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Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable.
CONTRACTOR(Name and Address): SURE I Y(Name and Principal Place of Business):
Air Systems Heating and Cooling, Inc. Merchants Bonding Company (Mutual)
915 Center Street 2100 Fleur Drive
Cedar Falls, IA 50613 Des Moines, IA 50321-1158
OWNER(Name and Address):
City of Waterloo
715 Mulberry St.
Waterloo, IA 50703
CONTSTRUCTION CONTRACT
Date: May 19, 2008 •
Amount: $19,730.00
Description (Name and Location): 2008 Riverfront Stadium Kitchen Hood & Exhaust Fan Renovation
80ND
Date(Not earlier than Construction Contract Date): May 19, 2008
Amount: $19,730.00
Modifications to this Bond: None E See Page 3
CONTRACTOR AS PRINCIPAL SURE I Y
Company: (Corporate Seal) Company: (Corporate Seal)
Air Systems Heating and Cooling, Inc. Merchants Bonding Company (Mutual)
f p �
Signature: 1 ► �/�- Signature: W` ---
Name and Title: •Name and Title: Janet Willard, Attorney-In-Fact
(Any additional signatures appear on page 3)
(FOR INFORMATION ONLY—Name,Address and Telephone)
AGENT or BROKER: OWNER'S REPRESENTATIVE(Architect, Engineer or other
Pedersen Dowie Clabby McCausland Insurance party): Gilmor & Doyle, Ltd.
P.O. Box 2957 214 E. 4th St.
Waterloo, IA 50704 Waterloo, IA 50703
Au 00CLMENT A.31 PERFORN1ANC_ 30`•0 ANC) PY' NT 30NO • OECE'•BER '984 ED. • AlA
,'�->�2-7 98'�rHE ANIER:CAN 4�ST- „'E CF ARC,-^IT_r 5. '733 `�5w YORK -EVE., v',V r VASHINC CN. O.C. 2CCC6
1 The Contractor and.the Surety,jointly and severally, bind -.1 After investigation, determine the amount for
themselves, their heirs, executors, administrators, succes- — which it may be liable to the Owner and,as soon as
sors and assigns to the Owner for the performance of the practible after the amount is determined, tender
Construction Contract, which is incorporated herein by payment therefor to the Ownej; or
reference. 4.
_ .2 Deny liability in whole or in part and notify the
Owner
citing_ If the Contractorperforms the Construction Contract,the
citing reasons therefor.
Surety and the Contractor shall have no obligation under this 5 If the Surety does not proceed as provided in Paragraph 4
Bond, except to participate in conferences as provided in _ with reasonable promptness, the Surety shall be deemed to
Subparagraph 3.1. be in default on this Bond fifteen days after receipt of an .
additional written notice from the Owner to the Surety
3 If there is no Owner Default,the Surety's obligation under demanding that the Surety perform its obligations under this
this Bond shall arise after: Bond,and the Owner shall be entitled to enforce any remedy
available to the Owner. If the Surety proceeds as provided in
3.1 The Owner has notified the Contractor and the Subparagraph 4.4, and the Owner refuses the payment
- Surety at its address described in Paragraph 10 below that tendered or the Surety has denied liability,in whole orin part,
the Owner is considering declaring a Contractor Default without further notice the Owner shall be entitled to enforce
and has requested and attempted to arrange a conference any remedy available to the Owner.
with the Contractor and the Surety to be held not later
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than fifteen days after receipt of such notice to discuss 6 After the Owner has terminated the Contractor's right to
methods of performing the Construction Contract. If the complete the Construction Contract,and if the Surety elects •
Owner,the Contractor and the Surety agree,the Contrac- to act under Subparagraph 4.1, 4.2, or 4.3 above, then the
tor shall be allowed a reasonable time to perform the responsibilities of the Surety to the Owner shall not be
Construction Contract, but such an agreement shall not greater than those of the Contractor under the Construction
waive the Owner's right,if any,subsequently to declare a Contract,and the responsibilities of the Owner to the Surety
Contractor Default; and shall not be greater than those'bf the Owner under the
3.2 The Owner has declared a Contractor Default and Construction Contract. To the limit of the amount of this
formally terminated the Contractor's right to complete the Bond, but subject to commitment by the Owner of the
contract. Such Contractor Default shall not be declared Balance of the Contract Price to mitigation of costs and
. earlier than twenty days after the Contractor and the damages on the Construction Contract, the Surety is ob-
Surety have received notice as provided in Subparagraph ligated without duplication for:
3.1; and
. 6.1 The responsibilities of the Contractor for correction
3.3 The Owner has agreed to pay the Balance of the of defective work and completion of the Construction
Contract Price to the Surety in accordance with the terms Contract;
of the Construction Contract or to a contractor selected to
perform the Construction Contract in accordance with the 6.2 Additional legal,design professional and delay costs
terms the contrail with the Owner. resulting from the Contractor's Default, and resulting
from the actions or failure to act of the Surety under
4 When the Owner has satisfied the conditions of Para- Paragraph 4; and
graph 3,the Surety shall promptly and at the Surety's expense
6.3 Liquidated damages,or if no liquidated damages are
take one of the following actions:
specified in the Construction Contract, actual damages
4.1 Arrange for the Contractor, with consent of the caused by delayed performance or non-performance of
Owner; to perform and complete the Construction Con- the Contractor.
tract; or
7 The Surety shall not be liable to the Owner or others for
4.2 Undertake to perform and complete the Construc- obligations of the Contractor that are unrelated to the
tion Contract itself, through its agents or through inde- Construction Contract,and the Balance of the Contract Price
pendent contractors; or shall not be reduced or set off on account of any such
unrelated obligations. No right of action shall accrue on this
4.3 Obtain bids or negotiated proposals from qualified Bond to any person or entity other than the Owner or its
contractors acceptable to the Owner for a contract for heirs,executors,administrators or successors.
performance and completion of the Construction Con-
tract,arrange for a contract to be prepared for execution 8 The Surety hereby waives notice of any change,including
by the Owner and the contractor selected with the Own- changes of time, to the Construction Contract or to related
er's concurrence, to be secured with performance and
payment bonds executed by a qualified surety equivalent subcontracts,purchase orders and other obligations.
to the bonds issued on the Construction Contract,and pay 9 Any proceeding, legal or equitable, under this Bond may
to the Owner the amount of damages as described in
Paragraph 6 in excess of the Balance of the Contract Price be instituted in any court of competent jurisdiction in the
incurred by the Owner resulting from the Contractor's location in which the work or part of the work is located and
default; or shall be instituted within two years after Contractor Default or
within two years after the Contractor ceased working or
4.4 Waive its right to perform and complete,arrange for within two years after the Surety refuses or fails to perform its
completion, or obtain a new contractor and with rea- obligations under this Bond, whichever occurs first. If the
sonable promptness under the circumstances: provisions of this Paragraph are void or prohibited by law,the
AlA DOCUMENT A312 • pCRFCR,' ANCE 30NO .AND PAYMENT 30NO • DECEE.'NBER 1984 ED. • .AlA v
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THE AMERiCAN INSTITUTE OF ARCHITECTS. 1733 NEW YORK -WE., N.`+v. WASHINGTON, O.C. ?CCCE, A312-1984
minimum period of limitation available to sureties as a struction Contract after all proper adjustments have been
defense in the jursidiction of the suit shall be applicable. made, including allowance to the Contractor of any
amounts received or to be received by the Owner in
10 Notice to the Surety,the Owner or the Contractor shall settlement of insurance or other cl4ims for damages to
be mailed or delivered to the address shown on the signature which the Contractor is entitled, reduced by all valid and
page. proper payments made to or on behalf of the Contractor
under the Construction Contract.
- 11 When this Bond has been furnished to comply with a 12.2 Construction Contract: The agreement between
statutory or other legal requirement in the location where the the Owner and the Contractor identified on the signature
construction was to be performed,any provision in this Bond page, including all Contract Documents and changes
conflicting with said statutory or legal requirement shall be thereto.
deemed deleted herefrom and provisions conforming to -
such statutory or other legal requirement shall be deemed 12.3 Contractor Default: Failure of the Contractor;
incorporated herein. The intent is that this_Bond shall be which has neither been remedied nor waived,to perform
construed as a statutory bond and not as a common law or otherwise to comply with the terms of the Construction
bond. Contract.
12.4 Owner Default: Failure of the Owner, which has
12 DEFINITIONS neither been remedied nor waived,to pay the Contractor
12.1 Balance of the Contract Price: The total amount as required by the Construction Contract or to perform
payable by the Owner to the Contractor under the Con- and complete or comply with the other terms thereof.
MODIFICATIONS TO THIS BOND ARE AS FOLLOWS:
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(Space is provided below for additional•signatures of added parties, other than those appearing on the cover page.)
CONTRACTOR AS PRINCIPAL SURETY =
Company: (Corporate Seal) Company: ;(-.orporate Seal);
Air Systems Heating and Cooling, Inc. Merchants Bonding Company Mutual).
Signature: VAA ` C�' �� � �f Signature: t\N
Name and Title: Name and Title: Janet Willard, Attorney—In—Fact
Address: 915 Center St. Address:
Cedar Falls, IA 50613 Pedersen Dowie Clabby McCausland Insurance
3977. .ti ivarci ty A3.zo T•Tat-.erloe7--I--A. 50704
AU DOCUMENT A312 . PERFOR.', ,cE BOND .AND PAYMENT SOND • CECEMBER 1984 EC. • AIA
A31 2-1984 3 THE AMERICAN INSTITUTE OF ARCHITECTS. '. 35 NEW YORK AVE., V W., WASHINGTCN. D C. 2CCo6