|
LABOR AND MATERIAL PAYMENT BOND
<br /> NOW,THEREFORE,THE CONDITION OF THIS OBLIGATION is such that if Principal shall promptly make payment to all
<br /> claimants as hereinafter defined, for all labor and material used or reasonably required for use in the performance of the
<br /> Contract,then this obligation shall be void,otherwise it shall remain in full force and effect,subject,however,to the following
<br /> conditions:
<br /> 1. A claimant is defined as one having a direct and the name of the party to whom the materials were
<br /> contract with the Principal or with a Subcontractor of the fumished, or for whom the work or labor was done or
<br /> Principal for labor, material, or both, used or reasonably performed. Such notice shall be served by mailing the
<br /> required for use in the performance of the Contract, labor same by registered mail or certified mail, postage prepaid,
<br /> and material being construed to include that part of water, in an envelope addressed to the Principal,Owner or Surety,
<br /> gas, power, light, heat, oil, gasoline, telephone service or at any place where an office is regularly maintained for the
<br /> rental of equipment directly applicable to the Contract transaction of business, or served in any manner in which
<br /> 2. The above named Principal and Surety hereby jointly legal process may be served in the state in which the
<br /> and severally agree with the Owner that every claimant as aforesaid project is located,save that such service need not
<br /> herein defined, who has not been paid in full before the be made by a public officer.
<br /> expiration of a period of ninety(90) days after the date on b) After the expiration of one(1)year following the date on
<br /> which the last of such claimants work or labor was done or which principal ceased Work on said Contract, it being
<br /> perforated, or materials were fumished by such claimant, understood, however,that if any limitation embodied in this
<br /> may sue on this bond for the use of such claimant, bond is prohibited by any law controlling the construction
<br /> prosecute the suit to final judgment for such sum or sums hereof such limitation shall be deemed to be amended so
<br /> as may be justly due claimant,and have execution thereon. as to be equal to the minimum period of limitation permitted
<br /> The owner shall not be liable for the payment of any costs by such law.
<br /> or expenses of any such suit
<br /> 3. No suit or action shall be commenced hereunder b and f Othoar ��nn state he political ti competent jurisdiction in
<br /> any claimant y in which the Pro political subdivision of the state
<br /> Project or any part thereof, is situated, or in
<br /> a) Unless claimant, other than one having a direct the United States District Court for the district in which the
<br /> contract with the Principal,shall have given written notice to ProJect,or any part thereof, is situated,and not elsewhere.
<br /> any two of the following: the Principal, the Owner, or the 4. The amount of this bond shall be reduced by and
<br /> Surety above named, within ninety (90) days after such to the extent of any payment or payments made in good
<br /> claimant did or performed the last of the work or labor, or faith hereunder, inclusive of the payment by Surety or
<br /> fumished the last of the materials for which said claim is mechanics' liens which may be filed of r said
<br /> made, stating with substantial accuracy the amount improvement,whether or not claim for •t�f
<br /> claimed lien be presented under and againstp
<br /> Signed and sealed this 19th day of October, 2010. :�r:4
<br /> ,2
<br /> s a
<br /> ATTEST: + LLO '' z4 . '•:!� O�`�t• as
<br /> ,rll"spll► rlando Construction, LLC , CAR .. s
<br /> of follow
<br /> R�
<br /> URG Go
<br /> WITNESS: Developers Surety and Indemnity Company
<br /> By, Le !• AND SIIIC
<br /> Debra S. Ritter 11Nifraso loft o f
<br /> 1936 !o Q
<br /> 0w�n„.•��a gar (Wa t,
<br /> Ange a M.Y u t (Tine)Aft rney-in-Fact
<br /> µy11„I,.,,g11N
<br /> AIA DOCUMENT A311 • PERFORMANCE BOND AND LA8OR AND MATERIAL PAYMENT BOND • AIA O
<br /> FEBRUARY 1970 ED. • THE AMERICAN INSTITUTE OFARCHITECTS,IM N.Y.AVE.,N.W.WASHINGTON,D.C.20006
<br /> 2
<br />
|