HomeMy WebLinkAbout840240.tiff r€ ELsyF\ AND l>,'i• E AGENCY
INLAND P.O. Box 80468 ()lidsnsuttance
13
01 - 9th Street Greeley, Cola 80631
INSURANCE COMPANY Lincoln, Nebraska 68501 303 - 356-1133
PERFORMANCE BOND
Approved by The American Institute of Architects
A. I.A.Document No.A-311(February 1970 Edition)
BOND NUMBER 983365
KNOW ALL MEN BY THESE /RESENTS:
That BEST—WAY PAVING CO,
as Principal,
hereinafter called Contractor, and INLAND INSURANCE COMPANY a corporation organized and existing under the laws
of the State of Nebraska,Lincoln, Nebraska. as Surety, hereinafter called Surety, are held and firmly bound unto
BOARD OF WELD COUNTY COMMISSIONERS
as Obligee, hereinafter called Owner, in the amount of TWO Hl;TNDRED...$.EV.ENT.EEN THO.DSAND...TWO...HUN.DRED..AND..
NO/100 Dollars ($.21.z.,2.o.0.,.0.0.--..,..),
for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and
severally, firmly by these presents.
WHEREAS., Contractor has by written agreement dated April 25th, 19 84 entered into a contract with Owner for
PROSPECT VALLEY GRAVEL HAULING AND SPREADING
in accordance with drawings and specifications prepared by (Here Insert full name,title and address)
which contract is by reference made a part
hereof,and is hereinafter referred to as the Contract.
NOW. THEREFORE. THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly and faithfully perform
said Contract,then this obligation shall be null and void;otherwise it shall remain in full force and effect.
The Surety hereby waives notice of any alteration or extension of time made by the Owner.
Whenever Contractor shall be, and declared by Owner to be in default under the Contract, the Owner having performed Owner's obligations
thereunder,the Surety may promptly remedy the default,or shall promptly
(I) Complete the Contract in accordance with its terms and conditions,or
(2)Obtain a bid or bids for completing the Contract in accordance with its terms and conditions, and upon determination by Surety of the low-
est responsible bidder, or, if the Owner elects, upon determination by the Owner and the Surety jointly of the lowest responsible bidder,
arrange for a contract between such bidder and Owner, and make available as Work progresses (even though there should be a default or a
succession of defaults under the contract or contracts of completion arranged under this paragraph) sufficient funds to pay the cost of
completion less the balance of the contract price; but not exceeding, including other costs and damages for which the Surety may be liable
hereunder, the amount set forth in the first paragraph hereof. The term "balance of the contract pr:ce," as used in this paragraph, shall
mean the total amount payable by Owner to Contractor under the Contract and any amendments thereto, less the amount properly paid by
Owner to Contractor.
Any suit under this bond must be instituted before the expiration of two (2) years from the date on which final payment under the
Contract falls due.
No right of action shall accrue on this bond to or for the use of any person or corporation other than the Owner named herein or
the heirs,executors,administrators or successors of the Owner.
Signed and se ed this 30th day of April , 19.84.
In the presence f: i BEST—WAY PAVING
C ,,. . � a'lzrl > -.,rte By r4.erG'�L-f."-- Bil"�,V�( (Seal)
I Ot es .
s) Principal
INLAND INSURANCE COMPANY
�!��
iv a By .1l e. f -as tr . (Seal)
Att rney—inFact , Surety
u a re 611 840240 i /
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INLAND P.O. Box 80468 UNIVERSAL
INSURANCE COMPANY Lincoln, Nebraska 68501 SURETY COMPANY
LABOR AND MATERIAL PAYMENT BOND
Approved by The American Institute of Architects
A. I. A. Document No.A-311 (February 1970 Edition)
KNOW ALL MEN BY THESE PRESENTS:
BOND NUMBER 983365
That BEST—WAY PAVING CO,
as Principal,
•
hereinafter called Principal, and INLAND INSURANCE COMPANY a corporation organized and existing under the laws
of the State of Nebraska.Lincoln, Nebraska,as Surety, hereinafter called Surety, are held and firmly bound unto
'BOARD OF WELD COUNTY COMMISSIONERS
as Obligee, hereinafter called Owner, for the use and benefit of claimants as hereinbelow defined, in the amount of....
TWO HUNDRED SEVENTEEN THOUSAND TWO HUNDRED AND NO/100 Dollars($217,200.00----
for the payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and
severally,firmly by these presents.
WHEREAS,Principal has by written agreement dated April 25th, 19.84 entered into a contract with Owner for
PROSPECT VALLEY GRAVEL HAULING AND SPREADING
in accordance with drawings and specifications prepared by (Here insert full name,title and address)
which contract is by reference made a part
hereof,and is hereinafter referred to as the Contract.
NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION is such that if the Principal shall promptly make payment to all
claimants as hereinafter defined, for all labor and material used or reasonably required for use in the performance of the Contract, then this
obligation shall be void; otherwise it shall remain in full force and effect, subject, however, to the following conditions:
(1) A claimant is defined as one having a direct contract with the Principal or with a sub-contractor of the Principal for labor, material,
or both, used or reasonably required for use in the performance of the contract, labor and material being construed to include that
part of water, gas, power, light, heat, oil, gasoline, telephone service or rental of equipment directly applicable to the Contract.
(2) The above-named Principal and Surety hereby jointly and severally agree with the Owner that every claimant as herein defined, who
has not been paid in full before the expiration of a period of ninety (90) days after the date on which the last of such claimant's
work or labor was done or performed, or materials were furnished by such claimant, may sue on this bond for the use of such
claimant, prosecute the suit to final judgment for such sum or sums as may be justly due claimant, and have execution thereon. The
Owner shall not be liable for the payment of any costs or expenses of any such suit.
(3) No suit or action shall be commenced hereunder by any claimant,
(a) Unless claimant, other than one having a direct contract with the Principal, shall have given written notice to any two of the
following: The Principal, the Owner, or the Surety above named, within ninety(90)days after such claimant did or performed the
last of the work or labor, or furnished the last of the materials for which said claim is made, stating with substantial accuracy
the amount claimed and the name of the party to whom the materials were furnished, or for whom the work or labor was done or
performed. Such notice shall be served by mailing the same by registered mail or certified mail, postage prepaid, in an envelope
addressed to the Principal, Owner or Surety, at any place where an office is regularly maintained for the transaction of business,
or served in any manner in which legal process may be served in the state in which the aforesaid project is located, save that
such service need not be made by a public officer.
(b) After the expiration of one (1) year following the date on which Principal ceased work on said Contract, it being understood,
however, that if any limitation embodied in this bond is prohibited by any law controlling the construction hereof such limitation
shall be deemed to be amended so as to be equal to the minimum period of limitation permitted by such law.
(c) Other than in a state court of competent jurisdiction in and for the county or other political subdivision of the state in which the
project, or any part thereof, is situated, or in the United States District Court for the district in which the project, or any part
thereof, is situated,and not elsewhere.
(4) The amount of this bond shall be reduced by and to the extent of any payment or payments made in good faith hereunder, inclusive
of the payment by Surety of mechanics' liens which may be filed of record against said improvement, whether or not claim for the
amount of such lien be presented under and against this bond.
Signed and sealed this
30th day of April , 19 84
BEST—WAY PAVING CO.
_ /9 �1/-r
wt - By —e""`—e—c---• L'Z L C` 1".' (Seal)
/
(wan ) Principal
INLAND INSURANCE COMPANY
,-4_ �(f'l<�:........_ By .... . /.. (Seal)
// (Witness) Attorn y-in-Fact Surety
This bend is Issued simultaneously with performance bend in favor of the Owner conditioned on the full and faithful performance of the con et.
U & 10612
INLAND INSURANCE COMPANY
LINCOLN, NEBRASKA
Ai en POWER OF ATTORNEY
'jaunty „MI 4HeIt eyi� ltljese . resents:
That the INLAND INSURANCE COMPANY, a corporation of the State of Nebraska, having its principal office in the City of Lincoln, Nebraska, pursuant to the
following By-Law, which was adopted by the Board of Directors of the said Company on July 23, 1981, to-wit:
"Article V-Section 6. RESIDENT OFFICERS AND ATTORNEYS-IN-FACT.The President or any Vice-President, acting with any Secretary or Assistant Secretary,
shall have the authority to appoint Resident Vice-Presidents and Attorneys-In-Fact, with the power and authority to sign, execute,acknowledge and deliver on its
behalf,as Surety:Any and all undertakings of suretyship and to affix thereto the corporate seal of the corporation.The President or any Vice-President,acting with
any Secretary or Assistant Secretary, shall also have the authority to remove and revoke the authority of any such appointee at any time."
does hereby make, constitute and appoint
Norman D. Noe or Gladys L. Conrady or Lawrence E. Lutgen or
Betty L. Harmon or Albert H. Turner, Jr. , Greeley, Colorado
its true and lawful Attorney(s)-In-Fact, to make, execute, seal and deliver for and on its behalf, as Surety:
Any and all undertakings of suretyship
And the execution of such bonds or undertakings in pursuance of these presents,shall be as binding upon said Company,as fully and amply,to all intents and
purposes, as if they had been duly executed and acknowledged by the regularly elected officers of the Company at its offices in Lincoln, Nebraska, in their own
persons.
The following Resolution was adopted at the Regular Meeting of the Board of Directors of the Inland Insurance Company, held on July 23, 1981:
"RESOLVED, That the signatures of officers of the Company and the seal of the Company may be affixed by facsimile to any Power of Attorney executed in
accordance with Article V-Section 6 of the Company By-Laws; and that any such Power of Attorney bearing such facsimile signatures, including the facsimile
signature of a certifying Assistant Secretary and facsimile seal shall be valid and binding upon the Company with respect to any bond, undertaking or contract of
suretyship to which it is attached."
All authority hereby conferred shall remain in full force and effect until terminated by the Company.
IN WITNESS WHEREOF, INLAND INSURANCE COMPANY has caused these presents to be signed by its Vice-President and its corporate seal to be hereunto
affixed this 4th day of October , 19 83
INLAND INSURANCE COMPANY „ ««•
o.ruN�oran.'
SEAT.
By \\.-..//
Vice-President
State of Nebraska
ss. •
County of Lancaster)
On this 4th day of October ,1983 ,before me personally came W. H. Bennett to
me known,who being by me duly sworn,did depose and say that(s)he resides in the County of Lancaster,State of Nebraska;that(s)he is the Vice-President of the
INLAND INSURANCE COMPANY,the corporation described in and which executed the above instrument;that(s)he knows the seal of the said corporation;that the
seal affixed to the said instrument is such corporate seal;that it was so affixed by order of the Board of Directors of said corporation;that(s)he signed(his)(her)
name by like order;and that By-Law,Article V-Section 6,adopted by the Board of Directors of said Company,referred to in the preceding instrument,is now in force.
Gerald d Ferns
GENERAL NOTA0.1A1.
L SEAL
STATE OF NEBRASKA
•
My Commission Expires 8/22/85 Notary Public
I, Celia Tomaszewski ,Assistant Secretary of INLAND INSURANCE COMPANY,do hereby certify that the above and
foregoing is a true and correct copy of a Power of Attorney executed by said INLAND INSURANCE COMPANY, which is still in full force and effect.
Signed and sealed at the City of Lincoln, Nebraska this 30th day day of April , 19 84 .
O�CfINPofPiE
'l�t'i[1Ji
/ Ass istayj/Secretary
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