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Home My WebLink AboutBID BOND BID BOND KNOW ALL MEN BY THESE PRESENTS,that we, Cedar Valley Corp. as Principal,and Liberty Mutual Insurance Company as Surety are held 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 successors,jointly and severally,firmly by these presents. The condition of this obligation is such that whereas the Principal has submitted the accompanying bid dated the 14th day of July ,2008,for F.Y. 2008 West Commercial St. Extension, River Road Relocation, and Storm Water Pump Station RM-8155(671)--9D-07; Contract No. 720 NOW,THEREFORE, (a)If said Bid shall be rejected,or in the alternate, (b)If said Bid shall be accepted and the Principal shall execute and deliver a contract in the form specified and shall furnish a bond for his faithful performance of said contract, and for the payment of all persons performing labor or furnishing materials in connection therewith,and shall in all other respects perform the agreement created by the acceptance of said Bid, Then this obligation shall be void,otherwise the same shall remain in force and effect;it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall,in no event,exceed the penal amount of this obligation as herein stated. By virtue of statutory authority,the full amount of this bid bond shall be forfeited to the Owner in liquidation 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 shall be in no way impaired or affected by any extension 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, and such of them as are corporations,have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers this 14th day of July ,A.D.2008. Cedar Valley Corp. (Seal) Principal BY William C. Cal derwood, Sr. Vice Presig ) Liberty Mutual Insurance Company (Seal) Witness April M. Smith Surety By Witness Pam Scheel Attorney-. -fact Dianne S. Riley THIS POWER OF ATTORNEY IS NOT VALID UNLESS IT IS PRINTED ON RED BACKGROUND. 2297187 This Power of Attorney limits the acts of those named herein,and they have no authority to bind the Company except in the manner and to the extent herein stated. LIBERTY MUTUAL INSURANCE COMPANY BOSTON,MASSACHUSETTS POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS: That Liberty Mutual Insurance Company (the "Company"), a Massachusetts stock insurance company,pursuant to and by authority of the By-law and Authorization hereinafter set forth,does hereby name,constitute and appoint JANET ALESSIO,CRAIG E.HANSEN,DIANNE S.RILEY,JAY D.FREIERMUTH,BRIAN M.DEIMERLY,CINDY BENNETT, ANNE CROWNER,ALL OF THE CITY OF WEST DES MOINES,STATE OF IOWA , each individually if there be more than one named, its true and lawful attorney-in-fact to make, execute,seal,acknowledge and deliver,for and on its behalf as surety and as its act and deed,army and all undertakings, bonds, recognizances and other surety obligations in the penal sum not exceeding FIFTY MILLION AND 00/100************ ******* DOLLARS($ 50,000,000.00***** )each,and the execution of such undertakings, bonds, recognizances and other surety obligations, in pursuance of these presents, shall be as binding upon the Company as if they had been duly signed by the president and attested by the secretary of the Company in their own proper persons. That this power is made and executed pursuant to and by authority of the following By-law and Authorization: ARTICLE XIII-Execution of Contracts:Section 5.Surety Bonds and Undertakings. Any officer of the Company authorized for that purpose in writing by the chairman or the president, and subject to such limitations as the chairman or the president may prescribe,shall appoint such attorneys-in-fact,as may be necessary to act in behalf of the Company to make, co execute, seal, acknowledge and deliver as surety any and all undertakings, bonds, recognizances and other surety obligations. Such 'G attorneys-in-fact, subject to the limitations set forth in their respective powers of attorney, shall have full power to bind the Company by their ra in O signature and execution of any such instruments and to attach thereto the seal of the Company. When so executed such instruments shall be w O. as binding as if signed by the president and attested by the secretary. _ N = d By the following instrument the chairman or the president has authorized the officer or other official named therein to appoint attorneys-in-fact: .0 O >. .C Pursuant to Article XIII, Section 5 of the By-Laws, Garnet W. Elliott, Assistant Secretary of Liberty Mutual Insurance Company, is hereby g +:E authorized to appoint such attorneys-in-fact as may be necessary to act in behalf of the Company to make, execute,seal, acknowledge and c 52 deliver as surety any and all undertakings,bonds,recognizances and other surety obligations. is 0 O w That the By-law and the Authorization set forth above are true copies thereof and are now in full force and effect. d W C > IN WITNESS WHEREOF, this Power of Attorney has been subscribed by an authorized officer or official of the Company and the corporate seal of — d Liberty 00M8utual Insurance Company has been affixed thereto in Plymouth Meeting,Pennsylvania this 4th day of March , Q 0 co O i LIBERTY MUTUAL INSURANCE COMPANY 0 — a 3al o 2, ByL�—n-- G✓— �G� _ a cEa _ c Garnet W. Elliott,Assistant Secretary N p aj; COMMONWEALTH OF PENNSYLVANIA ss ",. .Q 0)rn COUNTY OF MONTGOMERY w LE, On this 4th day of March , 2008 , before me, a Notary Public, personally came Garnet W. Elliott, to me known, and acknowledged = d O•— that he is an Assistant Secretary of Liberty Mutual Insurance Company; that he knows the seal of said corporation; and that he executed the above .2 3 ais Power of Attorney and affixed the corporate seal of Liberty Mutual Insurance Company thereto with the authority and at the direction of said corporation. To a IN TESTIMONY WHE ,� unto subscribed my name and affixed my notarial seal at Plymouth Meeting, Pennsylvania,on the day and year s 4 a first above written. i , '' t r C —co . co o i s' y\ NWEALT S OF,P NPiwsYEvAMA E N 4-0 ° • M 3 TPc By �) C c9 ,¢ my� �, „ c Montgarna Canty Ter sa�lla,Notary Public v o S Y "' : erntm,P wmviv a A.oV dlcr o'NotaI O CERTIFICATE ,A,' I—1— I,the undersigned,Assistant ecretary of Liberty Mutual Insurance Company,do hereby certify that the original power of attorney of which the foregoing is a full,true and correct copy,is in full force and effect on the date of this certificate;and I do further certify that the officer or official who executed the said power of attorney is an Assistant Secretary specially authorized by the chairman or the president to appoint attorneys-in-fact as provided in Article XIII,Section 5 of the By-laws of Liberty Mutual Insurance Company. This certificate and the above power of attorney may be signed by facsimile or mechanically reproduced signatures under and by authority of the following vote of the board of directors of Liberty Mutual Insurance Company at a meeting duly called and held on the 12th day of March, 1980. VOTED that the facsimile or mechanically reproduced signature of any assistant secretary of the company, wherever appearing upon a certified copy of any power of attorney issued by the company in connection with surety bonds,shall be valid and binding upon the company with the same force and effect as though manually affixed. IN TESTIMONY WHEREOF,I have hereunto subscribed my name and affixed the corporate seal of the said company,this 14th day of July 2008 By /4 . David M.Carey,Assi . nt Secretary