HomeMy WebLinkAboutMAINTENANCE BOND MAINTENANCE BOND
Bond No. IAC57216
KNOW ALL MEN BY THESE PRESENTS:
That B & B Builders & Supply as Principal
and Merchants Bonding Company(Mutual) _as Surety
are held and firmly bound unto the City of Waterloo , Iowa,
as Obligee in the penal sum of
---Forty Nine Thousand Two Hundred Fifty Two & 82/100--- Dollars
($_ ---49,252.82--- ), to the payment which, well and truly to be made, the Principal
and Surety bind themselves, their and each of their heirs, executors, administrator,
successors and assigns, Jointly and severally, firmly by these presents.
WHEREAS, the Principal has entered into a certain written contract with
the City of Waterloo,Iowa , dated the day of
Tt 2009 for the construction of F.Y. 2009 Sidewalk Repair Program -Zone 9 and
Trail Repairs Contract No. 752..City of Waterloo, Iowa
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WHEREAS, a condition of said contract is that the said Principal should furnish a bond of
Indemnity, guaranteeing to remedy any defects In workmanship or materials that may
develop in said work within a period of two(2)year(s) from the date of acceptance of
the work under said contract.
NOW, THEREFORE, THE CONDITION OF THE ABOVE OBLIGATION IS SUCH, that, if the
above bounden Principal does and shall, at his own cost and expense, remedy any
and all defects that may develop in said work, within the period of two(2)year(s) from
the date of the acceptance of the work under said contract, by reason of bad
workmanship or poor material used in the performance of said contract, then this
obligation shall be void, otherwise of full force and effect.
PROVIDED, HOWEVER, this bond is executed by the Surety, upon the express condition
that no right of action shall accrue upon or by reason hereof, to or for the use or benefit
of any one other than the Obligee named herein; and the obligation of the Surety Is
and shall be construed strictly as one of suretyship only.
SEALED, with our seals and dated this 19th _ day of August , XS 2009
Appr v d kto o B &B Builders & Supply
Principal (Seal)
8 69 By: - r, � ,,�ti
y Attorney D t
Merchants Bonding Company(Mutual)
Surety E (Seal)
Byllione K. Young,Attorney-in-Fact
and Iowa Resident Agent
Merchants Bonding Company
(Mutual)
POWER OF ATTORNEY
Know All Persons By These Presents,that the MERCHANTS BONDING COMPANY(MUTUAL),a corporation duly c rganized under
the laws of the State of Iowa,and having its principal office in the City of Des Moines,County of Polk,State of loNa,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-Fac,with full power
and authority hereby conferred in its name, place and stead, to sign, execute,acknowledge and deliver in its beh jlf as surety any
and all bonds,undertakings, recognizances or other written obligations in the nature thereof, subject to the limitati,n 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 Attomey-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.
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STATE OF IOWA •• • 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 Seal at the City of Des Moines,Iowa,the day and year first
above written.
IN
CINDY SMYTH aidi
�; CommissionNumber 173504ewMy Commission Expires
March 16,2005 Notary Public,Polk County,Iowa
STATE OF IOWA
COUNTY OF POLK ss.
I, 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(MUT JAL),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 19th day of Augut: ,2009.
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