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Home My WebLink About780552.tiff a s a•e 4 a n _ a' „e L' ==.�..lta a- - ,a •S-_ +'a�'ti r.'•'.i l�ih ,J�I�I� a'f�`" 1 1 1 H 1 FtL-1 V L—'� 1—J H :l_t s a`,� i •:' 7? I( ��. 11ll')'fR WELNRS INDEMNITY COMPANY • II.%It'!To U, CONNECT ICU"f PA l{11* , © I l Wet, el, Bond i 491E766-5 ..',."ti I-_,f-ws�M, 4 { ? PERFORMANCE BOND r, VI F; Approved by The American Institute of Architects, A.I.A. t t• 'fA Document No. A-311 February 1970 Edition Iiii, ,44 w �t - '?1: KNOW ALL MEN BY THESE PRESENTS: 4 sd (v ;t; That _ Professional Design Builders Inc (Here insert full name and address or legal title of Contractor) ,'�1�1 til4 11 :!= 902 Redwood Dr. Loveland, Colo. 80537 •e: O as Principal, hereinafter called Contractor, and THE TRAVELERS INDEMNITY COMPANY, a corporation, 4''3 Al i'p organized and existing under the laws of the State of Connecticut and having its principal place of business in �' h �' Hartford, Connecticut, as Surety, hereinafter called Surety, are held and firmly bound unto— _ •: .: Board of Weld County Commissioners Greeley, Colo. _ _- __ i. .. /I�� (Here insert frill name and address or legal title of Owner) ��,,, qtrcx •4 : Six Hundred Fifty—Seven Thousand ,+4 as Obligee, hereinafter called Owner, in the amount of _— _ -- -. --- :: xt.p qO Six Hundred Twenty-Five and no/100 _Ddlmt ($657 ,625.00 i1 for the payment whereof Contractor and Surety bind themselves,their heirs, executors, administrators,successors A and assigns, jointly and severally, firmly by these presents. S�I! •: August 25, 1978 e't WHEREAS, Contractor has by written agreement dated—— _— —.— --- --- MO 4k .40 \iv expansion of Weld County Library ,1F entered into a contract with Owner for P—_.- - - - - . --- --- -- -_— ylI 41 16 hit I�hlr Boer & Roberts Architects __ ts in accordance with drawings and specifications prepared by --- --- A„Sl. 8th & 8th Bldg. Greeley, Colo. 80631 — c 3 yui��if I (Here insert full name and address or legal title of Architect) i�,.Ji ''d•: which contract is by reference made a part hereof, and is hereinafter referred to as the Contract. a , 44( i} UN, S-1834 REV.4-70 PRINTED IN as.A. '�i6 fir.L._ 780552 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 (1) 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 deter- mination by Surety of the lowest 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 com- pletion 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 price," 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 SEALED this_ 25th day of August _A.D. 19 78 IN THE PRESENCE OF: Professional Design Builders, Inc. (Principal) (Seal) r, n Attest: ��, by: kKle)Secretor President THE TRAVELERS INDEMNITY COMPANY (Surety) (Seal) by Attorney-in-Fact Luther Crenshaw iristrA k TIH H; TRAVEL Fl THE TRAVELERS INDEMNITY COMPANY • HARTFORD, CONNECTICUT frr 'Cr Bond #491E766-5 ['`' IIi LABOR AND MATERIAL PAYMENT BONDY. Approved by The American Institute of Architects THIS BOND IS ISSUED SIMULTANEOUSLY WITH PERFORMANCE BOND IN FAVOR OF THE Ali OWNER CONDITIONED ON THE FULL AND FAITHFUL PERFORMANCE OF THE CONTRACT li i KNOW ALL MEN BY THESE PRESENTS: � 111 That Professional Design Builders, Inc. (Here insert full name and address or legal title of Contractor) '+l'(Jfrr j 902 Redwood Drive Loveland, Colo. 80537 , rt k.:11 as Principal, hereinafter called Principal, and THE TRAVELERS INDEMNITY COMPANY, a corporation, li organized and existing under the laws of Connecticut and having its principal place of business in Hartford, yy A. y Connecticut, as Surety, hereinafter called Surety, are held and firmly bound unto { Ni Board of Weld County Commissioners, Greeley, Co. 1', (Here insert full name and address or legal title of Owner) ' Ow t as Obligee, hereinafter called Owner, for the use and benefit of claimants as hereinbelow defined, in the amount �i Six Hundred Fifty—Seven Thousand, Six HundredAil lir of Twenty—Five and no/l00 Dollars ($_657,625.00 (Here insert a sum equal to at least one-half of the contract price) —)' 'it; 41, ,�+it for the payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. "if. ;i 1111,; WHEREAS, Principal has by written agreement dated August 25, 1978 fri ' + , entered into a contract with Owner for_expansion o f Weld County Library _ A,11,, is frr in accordance with drawings and specifications prepared by Boer & Roberts, Architects, i04�j To 8th & 8th Bldg. , Greeley, Colo. 80631 I,V (Here insert full name and address or legal title of Architect) which contract is by reference made a ��part hereof, and is hereinafter referred to as the Contract. st S-1834 REV.4-70 PRINTED IN us.A. Y � Ili iJ . .444r —"IAA - ASV Thfa, .�- b'f]`G ..'- •• P1t. O ..sa' s. .—cb a- A i,ll 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 per- formance 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 subcontractor of the Prin- cipal 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 ____ 25th .__ _day of August A. D. 19 78 IN THE PRESENCE OF: Professional Design Builders, Inc. Principal (Seal) 1 Attest: cU9? ,% by: , Q,. / G 2w?---, Secretary T le I/resident THE TRAVELERS INDEMNITY COMPANY (Surety) (Seal) by ttorney-tn-Fact Luth r Crenshaw Hello