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HomeMy WebLinkAboutRider to be attached to and form a part of performanceThe Guarantee Company of North America USA RIDER TO BE ATTACHED TO AND FORM A PART OF PERFORMANCE BOND NO. 75066312 Wherein Brazos Valley Services is named as Principal and The Guarantee Company of North America USA as Surety in favor of City of College Station as Obligee, in the amount of $ 746,921.04 effective FAhniary 4 9810 for Constnictian of Utility I hies. Streets. and Drainage Imorovements for Sonnma Phase 3 WHEREAS, when this bond was executed City of College Station was named as Obligee, and WHEREAS, it Is now desired that certain other parties be added as Obligees. NOW, THEREFORE, it is hereby understood and agreed that the following shall be considered as additional Obligees under this bond: BCS Development Comoanv The foregoing, however, is subject to the following further provisions: (1) Rev. 11.11.2003 The Surety shall not be liable under this bond to the Obligees, or any of them, unless the said Obligees, or any of them, shall make payment to the Principal strictly in accordance with the term of said contract as to payments, and shall promptly perform all other obligations to be performed to by the first named obligee under said contract at the time and in the manner therein set forth. (2) The Principal and the Surety shall not be liable to any one or to all of the Obligees in the aggregate in excess of the penal sum of the bond, to wit: $ 746.921.04 Signed, and sealed this 4th day of February 2010 (Princi B The Guarantee C By: Services John Schuler, • orney in - Fac SA Project No. 11 IF: STATE OF TEXAS TI IE COUNTY OF BRAZOS PERFORMANC E BOND 5 5 KNOW AIL MEN BY THESE PRESENTS: THAT WE, Brazos Valley Services , as Principal, hereinafter called "Contractor" and the other subscriber hereto The Guarantee Company of North America USA, as Surety, do hereby acknowledge ourselvtRu�l� acityczd fly bound to the City of College Station, a municipal corporation, in thc sum of h Hundred Twenty One and (5746.921.041 for the payment of which sum, well and truly to be made to the City of Collegc lion and its successors, the said Contractor and Surety do bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally. THE CONDITIONS OF THIS OBLIGATION ARE SUCH THAT: Bond No. 75066312 PERFORMANCE BOND WHEREAS, the Contractor has on or about this day executed a Contract in writing with the City of College Station for Sonoma Phase 3 Utilities, Drainage and Streets Improvements all of such work to bc done as set out in full in said Contract Documents therein referred to and adopted by the City Council, all of which arc made a part of this instrument as fully and completely as if set out in full herein. NOW THEREFORE, if the said Contractor shall faithfully and strictly perform Contract in all its terms, provisions, and stipulations in accordance with its true meaning and effect, and in accordance with the Contract Documents referred to therein and shall comply stricdy with each and every provision of the Contract, including all warranties and indemnities therein and with this bond, then this obligation shall become null and void and shall have no further force and effect otherwise the same is to remain in full force and effect. It is further understood and agreed that the Surety does hereby relieve the City of College Station or its representatives from the exercise of any diligence whatever in securing compliance on the part of the Contractor with the terms of the Contract, including the making of payments thereunder and, having fully considered it's Principal's competence to perform the Contract in the underwriting of this Performance Bond, the Surety hereby waives any notice to it of any default, or delay by thc Contractor in the performance of his Contract and agrees that it, the Surety, shall be bound to take notice of and shall bc held to have knowledge of all acts or omissions of the Contractor in all matters pertaining to the Contract. The Surety understands and agrees that the provision in the Contract that the City of College Station shall retain certain amounts due the Contractor until the expiration of thirty days from thc acceptance of the Work is intended for the City's benefit, and the City of College Station shall have the right to pay or withhold such retained amounts or any other amount owing under the Contract without changing or affecting the liability of the Surety hereon in any degree. It is further expressly agreed by Surety that the City of College Station or its representatives are at liberty at any time, without notice to the Surety, to make any change in the Contract Documents and in the Work to be done thereunder, as provided in the Contract, and in the terms and conditions thereof, or to make any change in, addition to, or deduction from the work to be done thereunder; and that such changes, if made, shall not in any way vitiate the obligation in this bond and undertaking or release the Surety therefrom. Council Approved -02/12/03 Rotted 09/27/04(x1 It is further expressly agreed and understood that the Contractor and Surety will fully indemnify and save harmless the City of College Station from any liability, loss, cost, expense, or damage arising out of or in connection with the work done by the Contractor under the Contract. In the event that the City of College Station shall bring any suit or other proceeding at law on the Contract or this bond or both, the Contractor and Surety agree to par to the City the actual amounts of attorney's fees incurred by the City in connection with such suit. This bond and all obligations created hereunder shall be performable in Brazos County, Texas. This bond is given in compliance with the provisions of Chapter 2253 of the 'Texas Government Code, as amended, which is incorporated herein by this reference. However, all of the express provisions hereof shat! be applicable whether or not within the scope of said statute. Notices required or permitted hereunder shall be in writing and shall be deemed delivered when actually received or, if earlier, on the third day following deposit in a United State Petal Service post office or receptacle, with proper postage affixed (certified mail, return receipt requested), addressed to the respective other party at the address prescribed in the Contract Documents, or at such other address as the receiving party may hereafter prescribe by written notice to the sending party. IN WITNESS THEREOF, the said Contractor and Surety have signed and scaled this instrument on the respective dates written below their signatures and have attached current Power of Attorney. ATTEST, SEAL (if a corporation) WITNESS: (if not a corporation) By: Na rt4e(2 t Title: Al-TEST/WITNESS int1 J By: J411, Name: Amy Lewis Tide: Bond Assoc. Date: February 4, 2010 REVIEWED: Commit Am , nvd - 02/12/71 Revised 09/27iO4(ul (SEAL) 644 ,q 440 City Attorney's Office Brazos Valley Services (Name of Contracto By: (4 1AS Cttirlv�^— z _/ y/ > The Guarantee Company of North America USA (Full Natne of Surety) Name: Title: Date: 101 E. Park Blvd., Ste. 817 (Address of Surety for Notice) Plano, TX 75074 Na e: John W. Schuler - 7'i e: Attomey-in-Fact Date: February 4, 2010 11H1 FOREGOING BOND IS ACCEPTED ON BEHALF OF THE CITY OF C )LLI:GE STATION, TEXAS: