HomeMy WebLinkAboutPERFORMANCE BOND Bond No. 190-019-283
PERFORMANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
That we, CEDAR VALLEY CORPORATION, of Wa Iowa (hereinafter
called the Principal), and Liberty Mutual Insurance Company
Of Boston,MA
(hereinafter called the Surety), are held and firmly bound untolion Twenty-F erroo
(hereinafter called the Obligee), in the penal sum of Five
Thousand Three Hundred-Sixt Two and 36/100 Dollars ($5 024. 362.36�,
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 day of
2021, enter into a written contract with the City of
Waterloo, Iowa, for the construction of F.Y.2008 West Commercial Street Extension,River Road
Relocation,and Storm Water Pump Station,Contract No.720,RM-8155(671)--9D-0,7 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.
PAGE 1 OF 2
FORM OF BOND
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
day of , 20 08.
Cedar Valley Corp.
Principal
By: (..A.A.C),U),,j,
Liberty Mutual Insurance Company -
Surety
Attorney-in-Fact Dianne S.Riley
FORM OF BOND PAGE 2 OF 2
PAGES
•
Bond No. 19C-019-283
PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS: that
Cedar Valley Corp.
(Name of Contractor)
P.O.Box 1740,Waterloo, IA 50704
(Address of Contractor)
a corporation , hereinafter called Principal,
(Corporation,Partnership or Individual)
and Liberty Mutual Insurance Company
(Name of Surety)
175 Berkeley Street, Boston,MA 02117
(Address of Surety)
hereinafter called Surety, are held and firmly bound unto
City of Waterloo
(Name of Owner)
715 Mulberry Street,Waterloo, IA 50701
(Address of Owner)
hereinafter called OWNER, in the penal sum of** Dollars, $(5,024,362.36 )
**Five Million,Twenty Four Thousand,Three Hundred Sixty Two and 36/100
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
20 08 , a copy of which is hereto attached and made a part hereof for the construction of:
F.Y.2008 West Commercial Street Extension, River Road Relocation,and Storm Water Pump Station
Contract No.720, RM-8155(671)-9D-07
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 Six(6) counterparts, each one of
(number)
which shall be deemed an original, this the day of
2008
ATTEST:
Cedar Valley Corp.
/ Principal
d'7
11
r i� Sec
(SEAL) By (s)
P.O.Box 1740
(Address)
Waterloo,IA 50704
/T)?
Witness as to Principal
P.O.Box 1740
(Address)
Waterloo,IA 50704 Liberty Mutual Insurance Company
Surety -
ATTEST: By
Attorney-i -Fact nne S.Ritey_._-_ _
Holmes Murphy&Associates,Inc.
Wi -.. as to Surety Anne Crowner (Address)
Holmes Murphy&Associates,Inc. P.O.Box 9207,Des Moines,IA 50306-9207
(Address)
P.O.Box 9207,Des Moines,IA 50306-9207
NOTE: Date of BOND must not be prior to date of Contract.
If CONTRACTOR is Partnership, all partners should execute BOND.
2297142
THIS POWER OF ATTORNEY IS NOT VALID UNLESS IT IS PRINTED ON RED BACKGROUND.
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, any 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,
execute, seal, acknowledge and deliver as surety any and all undertakings, bonds, recognizances and other surety obligations. Such 'a
N 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 N
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.V . a
C d By the following instrument the chairman or the president has authorized the officer or other official named therein to appoint attorneys-in-fact:
A
.0 C Pursuant to Article XIII, Section 5 of the By-Laws, Garnet W. Elliott, Assistant Secretary of Liberty Mutual Insurance Company, is hereby (73
R authorized to appoint such attorneys-in-fact as may be necessary to act in behalf of the Company to make, execute,seal, acknowledge and — O
V 3 deliver as surety any and all undertakings,bonds,recognizances and other surety obligations. 0 O
d at 0 I—
Q 4) That the By-law and the Authorization set forth above are true copies thereof and are now in full force and effect. W
O— Cc
L > IN WITNESS WHEREOF, this Power of Attorney has been subscribed by an authorized officer or official of the Company and the corporate seal of Q
Liberty Mutual Insurance Company has been affixed thereto in Plymouth Meeting,Pennsylvania this 4th day of March , * O
m O 2008 . Q ch
O i LIBERTY MUTUAL INSURANCE COMPANY d C
43
C• ca Sa Garnet W. Elliott,Assistant Secretary co cmy"„ COMMONWEALTH OF PENNSYLVANIA ss
to
R y COUNTY OF MONTGOMERY .r G o;
• L C
L+� On this 4th day of March , 2008 , before me, a Notary Public, personally came Garnet W. Elliott,to me known, and acknowledged t LD
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 a
ci Power of Attorney and affixed the corporate seal of Liberty Mutual Insurance Company thereto with the authority and at the direction of said corporation.
- ` O
IN TESTIMONY WHV +¢ e; unto subscribed my name and affixed my notarial seal at Plymouth Meeting, Pennsylvania,on the day and year t er
ct first above written tN4. < *"N
co
iii a Pi o " §. #r COMMONWEALTH NNSYLVANiA y/;//► /1'��� E M
O 3 F Ter Pul ,N k By /Q',,2�i�c�t ov C a0
Z V Hrmol s r-,�ery Co
Ter sa Pastella,NotaryPublic v o
% a r»�is� a E.,„.Kw,
:tea' °' ,4 tsr,p,,,04nia Auoaaa Jan a eNotario O(O
CERTIFICATE ,_ . F'
I,the undersigned,Assistan�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 day of
, 2008
ail By4.& ,,t4.-,, ,, David M.Carey,Assecretary
ACORD CERTIFICATE OF LIABILITY INSURANCE OP DATE(MM/DD/YYYY)
JACKS-1 07/25/08
PRODUCER THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION
ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE
AHROLD FAY ROSENBERG, INC. HOLDER.THIS CERTIFICATE DOES NOT AMEND,EXTEND OR
604 Locust St., Ste. 800 ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW.
Des Moines IA 50309-3713
Phone: 515-309-6200 Fax:515-309-6225 INSURERS AFFORDING COVERAGE NAIC#
INSURED INSURER A: Cincinnati Insurance Company I 10677
INSURER B:
Jackson Enterprises Corp.Cedar Valley Corp. INSURER C:
2637 Wagner Road INSURER D:
Waterloo IA 50703 -
INSURER E:
COVERAGES
THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED.NOTWITHSTANDING
ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR
MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,EXCLUSIONS AND CONDITIONS OF SUCH
POLICIES.AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
iNSHy�UU'u POLICY EFFECTIVE POLICY EXPIRATION
LTR INSRd TYPE OF INSURANCE POLICY NUMBER DATE(MIWDD/YY) DATE(MM/DD/YY) LIMITS
GENERAL LIABILITY �EACH OCCURRENCE $ 1,000,000
A X XI COMMERCIAL GENERAL LIABILITY CPP0894610 12/01/07 12/01/08 PRE ISES(Ea toccurence) $ 100,000
CLAIMS MADE X I OCCUR MED EXP(Any one person) $ 5,0 0 0
X 50 ft cxci delete PERSONAL&ADV INJURY $ 1,000,000
I I GENERAL AGGREGATE $2,0 0 0,0 0 0
GEN'L AGGREGATE LIMIT APPLIES PER: PRODUCTS-COMP/OP AGG j$ 2,0 00,00 0
POLICY X JEC r 7 LOC I I
AUTOMOBILE LIABILITY
COMBINED SINGLE LIMIT $ 1 000,000
A X 1 ANY AUTO CPA0894610 12/01/07 12/01/08 (Ea accident)
ALL OWNED AUTOS BODILY INJURY
SCHEDULED AUTOS (Per person)
X HIRED AUTOS
BODILY INJURY
X NON-OWNED AUTOS (Per accident)
PROPERTY DAMAGE
(Per accident) $
GARAGE LIABILITY AUTO ONLY-EA ACCIDENT $
ANY AUTO
OTHER THAN EA ACC $
AUTO ONLY: AGG $
EXCESS/UMBRELLA LIABILITY
EACH OCCURRENCE $ 10,000,000
A X OCCUR f CLAIMS MADE CPP0894610 12/01/07 12/01/08 AGGREGATE $ 10,000,000
DEDUCTIBLE
RETENTION $ $
WORKERS COMPENSATION AND X TORY LIMITS OER
EMPLOYERS'LIABILITY
A WC1918723 12/01/07 12/01/08 E.L.EACH ACCIDENT $ 100,000
ANY PROPRIETOR/PARTNER/EXECUTIVE
OFFICER/MEMBER EXCLUDED?
E.L.DISEASE-EA EMPLOYEE $ 100,000
If yes,describe under
SPECIAL PROVISIONS below E.L.DISEASE-POLICY LIMIT $ 50 0,0 0 0
OTHER
DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES/EXCLUSIONS ADDED BY ENDORSEMENT/SPECIAL PROVISIONS
City of Waterloo, Wayne Claassen Engineering and Surveying, Inc., & the
Cedar Valley Tech Works are additional insured on the general liability
policy in regards to F.Y. 2008 West Commercial Street Extension River Road
Relocation, and Storm Water Pump Station(Base Bid & Alternates 2&3)
CERTIFICATE HOLDER CANCELLATION
WATER-1 SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION
DATE THEREOF,THE ISSUING INSURER WILL ENDEAVOR TO MAIL 10 DAYS WRITTEN
NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT,BUT FAILURE TO DO SO SHALL
City of Waterloo
715 City
Mulberry St. IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSURER,ITS AGENTS OR
Waterloo IA 50703 REPRESENTATIVES.
AUTHOR D R SENTAW
ACORD 25(2001/08) @ ACORD CORPORATION 1988
IMPORTANT
If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must be endorsed. A statement
on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s).
If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may
require an endorsement. A statement on this certificate does not confer rights to the certificate
holder in lieu of such endorsement(s).
DISCLAIMER
The Certificate of Insurance on the reverse side of this form does not constitute a contract between
the issuing insurer(s), authorized representative or producer, and the certificate holder, nor does it
affirmatively or negatively amend, extend or alter the coverage afforded by the policies listed thereon.
ACORD 25(2001/08)