|
INLAND PO Box 80468 UNIVERSAL
<br /> INSURANCE COMPANY Lincoln,Nebraska 6850! SURETY COMPANY
<br /> PERFORMANCE BOND
<br />•
<br /> Conforms with the American Institute of Architects,AIA Document A311
<br /> BOND NO. 135846
<br /> KNOW ALL MEN BY THESE PRESENTS:
<br /> That Island Landhandlers LLC
<br /> as Principal,hereinafter called Contractor,and Universal Surety Company a corporation organized and existing
<br /> under the laws of the State of Nebraska,Lincoln,Nebraska,as Surety,hereinafter called Surety,are held and firmly bound unto
<br /> the County Board of Supervisors of Hall County, Nebraska
<br /> as Obligee,hereinafter called Owner,in the amount of
<br /> ***One hundred ninety seven thousand sixty five dollars& NOl100**** Dollars (S***197,065.00***
<br /> for the payment whereof Contractor and Surety bind themselves,their heirs,executors,administrators,successors and assigns,jointly and severally,
<br /> firmly by these presents.
<br /> WHEREAS,Contractor has by written agreement dated 1\44eIM b e.f I 2. 2018 ,entered into a contract with Owner for
<br /> 2019 Hall County Gravel Contract for Stockpile A-Hall County Maintenance Yard, Stockpile B-Camp Augustine,
<br /> &Stockpile E-Aida Maintenance Yard
<br /> in accordance with Drawings and Specifications prepared by
<br /> (here insert full name,title and address)
<br /> which contract is by reference made a
<br /> part hereof,and is hereinafter referred to as the Contract.
<br /> NOW,THEREFORE,THE CONDITION OF THIS OBLIGATION is such that,if Contractor shall promptly and faithfully perform
<br /> said Contract,then this obligation shalt be null and void;otherwise it shall remain in full force and effect.
<br /> The Surety hereby waives notice of any alteration or extension of time made by the Owner.
<br /> Whenever Contractor shall be, and declared by Owner to be in default under the Contract, the Owner having performed Owner's
<br /> obligations thereunder,the Surety may promptly remedy the default,or shall promptly
<br /> (I) Complete the Contract in accordance with its terms and conditions,or
<br /> (2) Obtain a bid or bids for completing the Contract in accordance with its terms and conditions,and upon determination by Surety
<br /> of the lowest responsible bidder,or,if the Owner elects,upon determination by the Owner and the Surety jointly of the lowest
<br /> responsible bidder,arrange for a contract between such bidder and Owner,and make available as Work progresses(even though
<br /> there should be a default or a succession of defaults under the contract or contracts of completion arranged under this paragraph)
<br /> sufficient funds to pay the cost of completion less the balance of the contract price,but not exceeding,including other costs and
<br /> damages for which the Surety may be liable hereunder,the amount set forth in the first paragraph hereof. The term"balance of
<br /> the contract price",as used in this paragraph,shall mean the total amount payable by Owner to Contractor under the Contract and
<br /> any amendments thereto,less the amount properly paid by Owner to Contractor.
<br /> 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
<br /> falls due.
<br /> 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,
<br /> executors,administrators or successors of the Owner.
<br /> Signed andsealedthis day of ¢tJr.✓h 6tJ ,2018
<br /> En the presence of: �J Island Landhandlers LLC
<br /> 12)94442./ otp ,l y
<br /> (Witness) By: , ✓.1
<br /> ae ✓,p (Seal)
<br /> Gerald T.Williams-Partner Principal
<br /> Universal Surety Company
<br /> '''�''''���___ I a
<br /> ,.l
<br /> �t •�i 1. By:, �L� (Seal)
<br /> (Witness) -Gary Ro cker-Attorney in fact surety
<br /> U&IB611
<br />
|