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THE AMERICAN INSTITUTE OF ARCHITECTS
AlA Document A312
BOND NO. 0007412
Performance Bond
Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable.
CONTRACTOR (Name and Address):
Clark Nickles, Inc.
1501 Tunnel Mill Road
Charlestown, IN 47111
SURETY (Name and Principal Place of Business):
COMPANION PROPERTY AND CASUALTY INSURANCE COMPANY
1301 HIGHTOWER TRAIL, SUITE 210
ATLANTA, GA 30350
OWNER (Name and Address):
City of Jeffersonville, IN
500 Quartern'laster Ct.
Jeffersonville, IN 47130
CONSTRUCTION CONTRACT
Date:
Amount: $ 474,086.00
Description (Name and Location): Winn Dixie Ditch Storm Drain Rehabilitation Project
BOND
Date (Not earlier than Construction Contract Date): 02/09/10
Amount: $ 474,086.00
Mgdifications to this Bond:
IXI None
D See Page 3
SURETY
Company: (Corporate Seal)
COMPANION PROPERTY AND CASUALTY
INSURANCE COMPANY
Signature: n.')/;vJJ
Name and Title: ./:..[~ C. Heaner
ATTORNEY IN-FACT
CONTRACTOR AS PRINCIPAL
Company: (Corporate Seal)
Clark Nickles, Inc.
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Signature~.>'(~';' ", ik- U;; (/ / J' "'-' t //7 l=-d?
Name and Title:
(Any additional signatures appear on page 3)
(FOR INFORMA nON ONL Y - Name, Address and Telephone:
AGENT9r BROKER: OWNER'S REPRESENTATIVE (Architect, Engineer or
WesseL Insurance Agency other party):
41 01 Cane Run Road
LOuisville, KY 40216
AlA DOCUMENT A312. PERFORMANCE BOND AND PAYMENT BOND. DECEMBER 1984 ED. . AlA @
THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVE., N.W WAsHINGTON, DC 20006
THIRD PRINTING. MARCH 1987
A312-1984 1
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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.
which it may be liable to the Owner and, as
soon as practicable after the amount is
determined, tender payment therefor to the
Owner; or
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.
.2 Deny liability in whole or in part and notify
the Owner citing reasons therefor.
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 reason-
able 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
5 If the Surety does not proceed as provided in Paragraph 4
with reasonable promptness, the Surety shall be deemed to be
in default of this Bond fifteen days after receipt of an additional
written notice from the Owner to the Surety demanding that the
Surety perform its obligations under this Bond, and the Owner
shall be entitled to enforce any remedy available to the Owner.
If the Surety proceeds as provided in Subparagraph 4.4, and
the Owner refuses the payment tendered or the Surety has
denied liability, in whole or in part, without further notice the
Owner shall be entitled to enforce any remedy available to the
Owner.
3 If there is no Owner Default, the Surety's obligation under this
bond shall arise after:
3.2 The Owner has declared a Contractor Default and
formally terminated the Contractor's right to complete the
contract, Such Contractor Default shall not be declared earlier
than twenty days after the Contractor and the Surety have
received notice as provided in Subparagraph 3.1; and
6 After the Owner has terminated the Contractor's right to
complete the Construction Contract, and if the Surety elects to
act under Subparagraph 4.1, 4.2, or 4.3 above, then the
responsibilities of the Surety to the Owner shall not be greater
than those of the Contractor under the Construction Contract,
and the responsibilities of the Owner to the Surety shall not be
greater than those of the Owner under the Construction
Contract. To the limit of the amount of this Bond, but subject to
commitment by the Owner of the Balance of the Contract Price
to mitigation or costs and damages on the Construction
Contract, the Surety is obligated without duplication for:
3.3 The Owner has agreed to pay the Balance of the Contract
Price to the Surety in accordance with the terms of the
Construction Contract or to a contractor selected to perform
the Construction Contract in accordance with the terms of the
contract with the Owner.
6.1 The responsibilities of the Contractor for correc-
tion of defective work and completion of the Construc-
tion Contract;
4 When the Owner has satisfied the conditions of Paragraph 3, the
Surety shall promptly and at the Surety's expense take one of the
following actions.
6.2 Additional legal, design professional and delay
costs resulting from the Contractor's Default, and re-
sulting from the actions or failure to act of the Surety
under Paragraph 4; and
4.1 Arrange for the Contractor, with consent of the Owner, to
perform and complete the Construction Contract; or
6.3 Liquidated damages, or if no liquidated damages
are specified in the Construction Contract, actual dam-
ages caused by delayed performance or non-perfor-
mance of the Contractor.
4.2 Undertake to perform and complete the Construction
Contract itself, through its agents or through independent
contractors; or
4.3 Obtain bids or negotiated proposals from qualified
contractors acceptable to the owner for a contract for
performance and completion of the Construction Contract,
arrange for a contract to be prepared for execution by the
Owner and the contractor selected with the Owner's
concurrence, to be secured with performance and payment
bonds executed by a qualified surety equivalent to the bonds
issued on the Construction Contract, and pay to the Owner the
amount of damages as described in Paragraph 6 in excess of
the Balance of the Contract Price incurred by the Owner
resulting from the Contractor's default; or
7. The Surety shall not be liable to the Owner or others for
obligations of the Contractor that are unrelated to the
Construction Contract, and the Balance of the Contract Price
shall not be red uced or set off on account of any such
unrelated obligations. No right of action shall accrue on this
Bond to any person or entity other than the Owner or its heirs,
executors, administrators, or successors.
8. The Surety hereby waives notice of any change, includ- ing
changes of time, to the Construction Contract or to related
subcontracts, purchase orders and other obligations.
.1 After investigation, determine the amount for
9. Any proceeding, legal or equitable, under this Bond may be
instituted in any court of competent jurisdiction in the location
in which the work or part of the work is located and shall be
instituted within two years after Contractor Default or within two
years after the Contractor ceased working or within two years
after the Surety refuses or fails to perform its obligations under
this Bond, whichever occurs first. If the provisions of this
Paragraph are void or prohibited by law, the minimum period of
4.4 Waive its right to perform and complete, arrange for
completion, or obtain a new contractor and with reasonable
promptness under the circumstances:
AlA DOCUMENT A312. PERFORMANCE BOND AND PAYMENT BOND. DECEMBER 1984 ED. . AlA @
THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVE., N.W. WASHINGTON, DC 20006
THIRD PRINTING. MARCH 1987
A312-1984 2
..
10 Notice to the Surety, the Owner or the Contractor shall
be mailed or delivered to the address shown on the
signature page.
received by the Owner in settlement of insurance or
other claims for damages to which the Contractor is
entitled, reduced by all valid and proper payments
made to or on behalf of the Contractor under the
Construction Contract.
limitation available to sureties as a defense in the jurisdiction
of the suit shall be applicable.
11 When this Bond has .been fumished to comply with a
statutory or other legal requirement in the location where
the construction was to be performed, any provision in this
Bond conflicting with said statutory or legal requirement
shall be deemed deleted herefrom and provisions
conforming to such statutory or other legal requirement
shall be deemed incorporated herein. The intent is that this
Bond shall be construed as a statutory bond and not as a
common law bond.
12.2 Construction Contract: The agreement
between the Owner and the Contractor identified on
the signature page, including all Contract
Documents and changes thereto.
12.3 Contractor Default: Failure of the Contractor,
which has neither been remedied nor waived, to per-
form or otherwise to comply with the terms of the
Construction Contract.
12.1 Balance of the Contract Price: The total
amount payable by the Owner to the Contractor
under the Construction Contract after all proper
adjustments have been made, including allowance
to the Contractor of any amounts received or to be
12.4 Owner Default: Failure of the Owner, which
has neither been remedied nor waived, to pay the
Contractor as required by the Construction Contract
or to perform and complete or comply with the other
terms thereof.
12 DEFINITIONS
MODIFICATIONS TO THIS BOND ARE AS FOLLOWS:
(Space is provided below for additional signatures of added parties, other than those appearing on the cover page.)
CONTRACTOR AS PRINCIPAL
Company:
(Corporate Seal)
SURETY
Company:
(Corporate Seal)
Signature:
Name and Title:
Address:
Signature:
Name and Title:
Address:
AlA DOCUMENT A312. PERFORMANCE BOND AND PAYMENT BOND. DECEMBER 1984 ED.. AIA@
THE AMERICAN INSTITUTE OF ARCHITECTS, 1735 NEW YORK AVE., NW. WASHINGTON, DC 20006
THIRD PRINTING. MARCH 1987
A312-1984 3