HomeMy WebLinkAboutBID BOND BID BOND
KNOW ALL MEN BY THESE PRESENTS,that we, B &B Builders&Supply
as Principal, and Merchants Bonding Company (Mutual)
as Surety are held and firmly bound unto the CiTY OF WATERLOO , Iowa,hereinafter called
"OWNER." In the penal sum ---Five Percent of Amount of 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 accompanyingbid dated the day of
March , 2009 for F.Y. 2009 Sidewalk Repair Program -
Zone 9 and Trail fPepairs, Contract No. /52, City of VVaterloo, Iowa __..
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 torberhereto affixed and
March
these presents to be signed by their proper officers this 16th day of
A.D. 2009 my .c:X L
B&B Builders &Supply (SeeA)
Principal /7
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By
(Title)
a A ' m 4. Merchants Bonding Com an Mutual) (Seal)
Wi. e' 1 Sufety �
itness Attorney—in a '*Iowa Resident Agent
Barry A. Mc
Merchants Bonding Company
(Mutual)
POWER OF ATTORNEY
Know At Persons By These Presents,that the MERCHANTS BONDING COMPANY(MUTUAL),a corporation duly organized under
the laws of the State of Iowa,and having its principal office in the City of Des Moines,County of Polk,State of Iowa,hath made,
constituted and appointed,and does by these presents make,constitute and appoint
Terry A.Schultz,Dione R.Young,Barry A.McGee,John W.Ahrold,John R.Fay,Jennifer Stark,
Karlene Kentner,Matt Fay
of Des Moines and State of Iowa its true and lawful Attorney-in-Fad,with full power
and authority hereby conferred in its name,place and stead,to sign,execute,acknowledge and deliver in its behalf as surety any
and all bonds,undertakings,recognizances or other written obligations in the nature thereof,subject to the limitation that any such
instrument shall not exceed the amount of:
TWO MILLION FIVE HUNDRED THOUSAND($2,500,000.00)DOLLARS
and to bind the MERCHANTS BONDING COMPANY(MUTUAL)thereby as fully and to the same extent as if such bond or
undertaking was signed by the duly authorized officers of the MERCHANTS BONDING COMPANY(MUTUAL),and all the acts of
said Attorney-in-Fact,pursuant to the authority herein given,are hereby ratified and confirmed.
This Power-of-Attorney is made and executed pursuant to and by authority of the following Amended Substituted and Restated By-
Laws adopted by the Board of Directors of the MERCHANTS BONDING COMPANY(MUTUAL)on November 16,2002.
ARTICLE II,SECTION 8-The Chairman of the Board or President or any Vice President or Secretary shall have power and
authority to appoint Attorneys-in-Fact,and to authorize them to execute on behalf of the Company,and attach the Seal of the
Company thereto,bonds and undertakings,recognizances,contracts of indemnity and other writings obligatory in the nature
thereof.
ARTICLE II,SECTION 9-The signature of any authorized officer and the Seal of the Company may be affixed by facsimile
to any Power of Attorney or Certification thereof authorizing the execution and delivery of any bond, undertaking,
recognizance, or other suretyship obligations of the Company, and such signature and seal when so used shall have the
same force and effect as though manually fixed.
In Witness Whereof,MERCHANTS BONDING COMPANY(MUTUAL)has caused these presents to be signed by its President and
its corporate seal to be hereto affixed,this 16th day of January,2006.
.•41.• ..� d• t.. MERCHANTS BONDING COMPANY(MUTUAL)
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••a�• 1933 o•c• 7/;
• By
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STATE OF IOWA ••• 's •• President
COUNTY OF POLK ss.
On this 16th day of January,2006,before me appeared Larry Taylor,to me personally known,who being by me duly sworn did say that
he is President of the MERCHANTS BONDING COMPANY(MUTUAL),the corporation described in the foregoing instrument,and that the
Seal affixed to the said instrument is the Corporate Seal of the said Corporation and that the said instrument was signed and sealed in behalf
of said Corporation by authority of its Board of Directors.
In Testimony Whereof,I have hereunto set my hand and affixed my Official Seat at the City of Des Moines,Iowa,the day and year first
above written.
c CINDY SMYTHemt
Commission Number 17350d
My Commission Expires
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March 16,2008 Notary Public,Polk County,Iowa
STATE OF IOWA
COUNTY OF POLK ss.
1, William Warner,Jr.,Secretary of the MERCHANTS BONDING COMPANY(MUTUAL),do hereby certify that the above and foregoing
is a true and correct copy of the POWER-OF-ATTORNEY executed by said MERCHANTS BONDING COMPANY(MUTUAL),which is
still in full force and effect and has not been amended or revoked.
In Witness Whereof,I have hereunto set my hand and affixed the seal of the Company on this 16th day of March ,2009,
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