00601 - Performance Bond - Surfside

Description

Construction Performance Bond Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. CONTRACTOR (Name and Address): SURETY (Name and Principal Place of Business): OWNER (Name and Address): TOWN OF SURFSIDE 9293 Harding Avenue Surfside, Florida 33154 CONSTRUCTION CONTRACT Date: Amount: $ Description (Name and Location): Surfside Seawall Replacement BOND Date (Not earlier than Construction Contract Date): Amount: $ Modifications to this Bond Form: CONTRACTOR AS PRINCIPAL Company (Corp. Seal) SURETY Company Signature: Name and Title: CONTRACTOR AS PRINCIPAL Company (Corp. Seal) Signature: Name and Title: (Corp. Seal) SURETY Company Signature: Name and Title: Signature: Name and Title: 00601-1 EJCDC No. 1910-28A (1984 Edition) Prepared through the joint efforts of the Surety Association of America, Engineers' Joint Contract Documents Committee, The Associated General Contractors of America, American Institute of Architects, American Subcontractors Association, and the Associated Specialty Contractors. (Corp. Seal) 1. The Contractor and the Surety, jointly and severally, bind themselves, their heirs, executors, administrators, successors and assigns to the Owner for the performance of the Construction Contract, which is incorporated herein by reference. 2. If the Contractor performs the Construction Contract, the Surety and the Contractor shall have no obligation under this Bond, except to participate in conferences as provided in Subparagraph 3.1. 3. If there is no Owner Default, the Surety’s obligation under this Bond shall arise after: 3.1. The Owner has notified the Contractor and the Surety at its address described in Paragraph 10 below, that the Owner is considering declaring a Contractor Default and has requested and attempted to arrange a conference with the Contractor and the Surety to be held not later than fifteen days after receipt of such notice to discuss methods of performing the Construction Contract. If the Owner, the Contractor and the Surety agree, the Contractor shall be allowed a reasonable time to perform the Construction Contract, but such an agreement shall not waive the Owner’s right, if any, subsequently to declare a Contractor Default: and 3.2. The Owner has declared a Contractor Default and formally terminated the Contractor’s right to complete the contract.