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HomeMy WebLinkAboutPerformance and Payment Bond_Long Painting CompanySECTION 00610 PERFORMANCE BOND Bond No. 107420290 KNOW ALL MEN BY THESE PRESENTS, That Long Painting Company as CONTRACTOR, and Travelers Casualty and Surety Company of America as Surety, are held and firmly bound unto City of Bremerton hereinafter called "OWNER," in the sum of Three Hundred Thirty-seven Thousand Eight Hundred Eighty-one and 47/100 ($337,881.47) dollars, for the payment of which sum, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE CONDITIONS OF THIS OBLIGATION ARE SUCH, that said CONTRACTOR has been awarded and is about to enter into the annexed Agreement with said OWNER to perform the WORK as specified or indicated in the Contract Documents entitled "CITY OF BREMERTON, RESERVOIR 19 — EXTERNAL COATING RE'EPLACEMENT' ; now, therefore, In the event CONTRACTOR fails to timely or properly perform any of the requirements of the Contract Documents at the times and in the manner contained therein, the Surety shall be liable under this bond up to the amount of the bond for the full amount of the OWNERS's expenses to construct or repair all work as well as all loss, cost, expense or damage suffered by the OWNER in excess of the Contract amount due to the CONTRACTOR'S failure to comply with any contract or permit conditions or other applicable laws and regulations. The Surety agrees that within 30 calendar days of receiving notice that the OWNER has declared a CONTRACTOR default and formally terminated the CONTRACTOR'S right to complete the Contract pursuant to its terms and conditions and that the CONTRACTOR has defaulted on all or part of the terms guaranteed by this bond, the Surety shall either: 1. Notify the OWNER in writing of its intent to cure the default itself within a reasonable period of time acceptable to the OWNER. The OWNER agrees to pay the balance of the Contract price to the Surety in accordance with the terns of the Contract, or 2. Tender to the OWNER the demanded stun, up to the amount of the bond. However, if the amount necessary for the OWNER to cure the default is less than the amount tendered, the OWNER will return, without interest, any overpayment to the Surety. PROVIDED, that any alterations in the WORK to be done or the materials to be furnished, or changes in the time of completion, which may be made pursuant to the terms of said Contract Documents, shall not in any way release said CONTRACTOR or said Surety hereunder, nor shall any extensions of time granted under the provisions of said Contract Documents, release either said CONTRACTOR or said Surety, and notice of such alterations or extensions of the Agreement is hereby waived by said Surety. RESERVOIR 19 - EXTERIOR COATING REPLACEMENT PERFORMANCE BOND APRIL 2021 00610-1 The obligation of the Surety shall include reimbursing the City for all costs and expenses, (including, but not limited to fees and charges of engineers, architects, attorneys, and other professionals, and court costs if litigation is commenced) incurred by the OWNER in enforcing the provisions of this Bond. The CONTRACTOR hereby agrees that the CONTRACTOR'S obligation to perform the required work is not limited to the amount of funds held by the Surety. This bond is irrevocable and cannot be canceled by the Surety or the CONTRACTOR. This bond shall remain in full force and effect for a period of one (1) year following final acceptance of the project by the City, and until the bond is released in writing by the OWNER at the written request of the Surety or CONTRACTOR. IN WITNESS WHEREOF, we have hereunder set our hands and seals this 12th day of May , 202L (SEAL) Long Painting Company (CONTRACTOR) By:c6nr (Signature and SEAL) (kn�GA, A4, gilt (SEAL) Travelers Casualty and Surety Company of America (Surety) By: (Signature aid SEAL) Cynthia L. Jay, Atto . y-In-Fact (SEAL AND NOTARIAL ACKNOWLEDGEMENT OF SURETY) Address of Surety to which all notices shall be sent: Address of Surety for service of process: (Must be a physical address) RESERVOIR 19 — EXTERIOR COATING REPLACEMENT APRIL 2021 Travelers Casualty and Surety Company of America 1501 Fourth Ave., Suite 1000 Seattle, WA 98101 Travelers Casualty and Surety Company of America 1501 Fourth Ave., Suite 1000 Seattle, WA 98101 PERFORMANCE BOND 00610-2 SECTION 00620 PAYMENTBOND Bond No 107420290 KNOW ALL MEN BY THESE PRESENTS, That Long Painting Company as CONTRACTOR, And Travelers Casualty and Surety Company of America _ as Surety, are held and firmly bound unto City of Bremerton hereinafter called "OWNER," in the sum of Three Hundred Thirty-seven Thousand Eight Hundred Eighty-one and 47/100 ($337,881 ;47) dollars, for the payment of which sum, well and truly to be made, we bind ourselves, our heirs, executors, administrators, successors, and assigns, jointly and severally, firmly by these presents. THE CONDITIONS OF THIS OBLIGATION ARE SUCH, that said CONTRACTOR has been awarded and is about to enter into the annexed CONTRACT with said OWNER to perform the WORK as specified or indicated in the Contract Documents entitled "CITY OF BREMERTON, RESERVOIR 19 — EXTERNAL COATING REPLACEMENT"; now, therefore, If said CONTRACTOR, or subcontractor, fails to pay for any materials, equipment, or other supplies, or for rental of same, used in connection with the performance of work contracted to be done, or for amounts due under applicable State law for any work or labor thereon, said Surety will pay for the same in an amount not exceeding the sum specified above, and, in the event suit is brought upon this bond, reasonable attorney's fees to be fixed by the court. This bond shall inure to the benefit of any persons, companies, or corporations entitled to file claims under applicable State law so as to give a right of action to them or their assigns in any suit brought upon this bond. PROVIDED, that any alterations in the WORK to be done or the materials to be furnished, or changes in the time of completion, which may be made pursuant to the terms of said Contract Documents, shall not in any way release said CONTRACTOR or said Surety thereunder, nor shall any extensions of time granted under the provisions of said Contract Documents release either said CONTRACTOR or said Surety, and notice of such alterations or extensions of the CONTRACT is hereby waived by said Surety. The obligation of the Surety shall include reimbursing the City of all costs and expenses, (including, but not limited to fee and charges of engineers, architects, attorneys, and other professionals, and court costs if litigation is commenced) incurred by the OWNER in enforcing the provisions of this Bond. RESERVOIR 19 - EXTERIOR COATING REPLACEMENT PAYMENT BOND APRIL 2021 00620-1 IN WITNESS WHEREOF, we have hereunder set our hands and seals this _ 12th day of May , 2021. (SEAL) (SEAL) Long Painting Company Travelers Casualty and Surety Company of America (CONTRACTOR) (Surety) y' By: - (Signs ure and S AL) be-r'C-t- N '6V';*lii1 (Signature(a d SEAL) Cynthia L. Jay, Attor ey n-Fact � (SEAL AND NOTARIAL ACKNOWLEDGEMENT OF SURETY) Address of Surety to which all notices shall be sent: Address of Surety for service of process: (Must be a physical address) Travelers Casualty and Surety Company of America 1501 Fourth Ave., Suite 1000 Seattle, WA 98101 Travelers Casualty and Surety Company of America 1501 Fourth Ave., Suite 1000 Seattle, WA 98101 END OF SECTION RESERVOIR 19 — EXTERIOR COATING REPLACEMENT APRIL 2021 PAYMENTBOND 00620-2 Travelers Casualty and Surety Company of America Travelers Casualty and Surety Company TRAVELERS J St. Paul Fire and Marine Insurance Company POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That Travelers Casualty and Surety Company of America, Travelers Casualty and Surety Company, and St Paul Fire and Marine Insurance Company are corporations duly organized under the laws of the State of Connecticut (herein collectively called the "Companies"), and that the Companies do hereby make, constitute and appoint Cynthia L. Jay, of Seattle, Washington, their true and lawful Attorney -in -Fact to sign, execute, seal and acknowledge any and all bonds, recognizances, conditional undertakings and other writings obligatory in the nature thereof on behalf of the Companies in their business of guaranteeing the fidelity of persons, guaranteeing the performance of contracts and executing or guaranteeing bonds and undertakings required or permitted in any actions or proceedings allowed by law IN WITNESS WHEREOF, the Companies have caused this instrument to be signed, and their corporate seals to be hereto affixed, this 3rd day of February, 2017. ww �rJT L r� 2� ,'� 1ShiTpaRO, `t . p i- CoKdk State of Connecticut By t City of Hartford ss Robert L. Raney, SefgbrVice President On this the 3rd day of February, 2017, before me personally appeared Robert L. Raney, who acknowledged himself to be the Senior Vice President of Travelers Casualty and Surety Company of America, Travelers Casualty and Surety Company, and St. Paul Fire and Marine Insurance Company, and that he, as such, being authorized so to do, executed the foregoing instrument for the purposes therein contained by signing on behalf of the corporations by himself as a duly authorized officer In Witness Whereof, I hereunto set my hand and official seal. G Tyr - .1 My Commission expires the 30th day of June, 2021 TAq * ate* i❑� Marie C. Tetreault, Notary Public Cyf. This Power of Attorney is granted under and by the authority of the following resolutions adopted by the Boards of Directors of Travelers Casualty and Surety Company of America, Travelers Casualty and Surety Company, and St Paul Fire and Marine Insurance Company, which resolutions are now in full force and effect, reading as follows: RESOLVED, that the Chairman, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President, any Vice President, any Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any Assistant Secretary may appoint Attomeys-in-Fact and Agents to act for and on behalf of the Company and may give such appointee such authority as his or her certificate of authority may prescribe to sign with the Company's name and seal with the Company's seal bonds, recognizances, contracts of indemnity, and other writings obligatory in the nature of a bond, recognizance, or conditional undertaking, and any of said officers or the Board of Directors at any time may remove any such appointee and revoke the power given him or her; and it is FURTHER RESOLVED, that the Chairman, the President, any Vice Chairman, any Executive Vice President, any Senior Vice President or any Vice President may delegate all or any part of the foregoing authority to one or more officers or employees of this Company, provided that each such delegation is in writing and a copy thereof is filed in the office of the Secretary; and it is FURTHER RESOLVED, that any bond, recognizance, contract of indemnity, or writing obligatory in the nature of a bond, recognizance, or conditional undertaking shall be valid and binding upon the Company when (a) signed by the President, any Vice Chairman, any Executive Vice President, any Senior Vice President or any Vice President, any Second Vice President, the Treasurer, any Assistant Treasurer, the Corporate Secretary or any Assistant Secretary and duly attested and sealed with the Company's seal by a Secretary or Assistant Secretary; or (b) duly executed (under seal, if required) by one or more Attorneys -in -Fact and Agents pursuant to the power prescribed in his or her certificate or their certificates of authority or by one or more Company officers pursuant to a written delegation of authority; and it is FURTHER RESOLVED, that the signature of each of the following officers: President, any Executive Vice President, any Senior Vice President, any Vice President, any Assistant Vice President, any Secretary, any Assistant Secretary, and the seal of the Company may be affixed by facsimile to any Power of Attorney or to any certificate relating thereto appointing Resident Vice Presidents, Resident Assistant Secretaries or Attorneys -in -Fact for purposes only of executing and attesting bonds and undertakings and other writings obligatory in the nature thereof, and any such Power of Attorney or certificate bearing such facsimile signature or facsimile seal shall be valid and binding upon the Company and any such power so executed and certified by such facsimile signature and facsimile seal shall be valid and binding on the Company in the future with respect to any bond or understanding to which it is attached. I, Kevin E. Hughes, the undersigned, Assistant Secretary of Travelers Casualty and Surety Company of America, Travelers Casualty and Surety Company, and St Paul Fire and Marine Insurance Company, do hereby certify that the above and foregoing is a true and correct copy of the Power of Attorney executed by said Companies, which remains in full force and effect Dated this 12th day of May , 2021 *ysr +,y �ylr1F 01D) 11AHlFOip. + Cp�� R Kevin E. Hughes, Assi tant Secretary To verify the authendcity of this Power ofAttorney, please call us at 1-800-421 3880. Please refer to Me above -named Attomey4n-Fact and the details of the bond to which the power is attached.