Project 168 - Bond - Vadnais - 2007-06-14 FAITHFUL PERFORMANCE BOND
BOND NO 505023528
premium: $17 159 00
COSTA MESA SANITARY DISTRICT
FAITHFUL PERFORMANCE BOND
(District Contract)
KNOW ALL MEN BY THESE PRESENTS.
THAT WHEREAS, COSTA MESA SANITARY DISTRICT a California sanitary
district, by minute order of the Board of Directors, adopted on June 14 2007
has awarded to
Vadnais Corporation
NAME OF CONTRACTOR
2130 La Mirada Vista CA 92081
ADDRESS OF CONTRACTOR
hereinafter designated as the "Principal' a Contract for the work described as follows;
Project # 168 Irvine Pumping Station Relocation
JOB NAME AND Jo?ApPRESS
WHEREAS, the said Principal Is required under the terms of said Contract and
District's Operations Code Section 7,05.030, to furnish a bond for the faithful
performance of said Contract, including a one-year guarantee of the work performed.
NOW THEREFORE, WE, the undersigned CONTRACTOR, as Principal and
_ Arch Insurance Company, 135 N Los Robles Ave Ste 825 Pasadena CA 91101
(NAME AND ADDRESS OF SURETY)
duly authorized to transact business under the laws of the State of California, as Surety
are held and firmly bound unto the Costa Mesa Sanitary District, In the penal sum
Of: One Million Seven Hundred Fifteen Thousand Eight Hundred Seventy*Dollars
($ 1,715,875 00 ), said sum being not less than one hundred (100%) percent of
the contract price for the payment of which sum well and truly to be made, we bind
ourselves, our heirs, executors, administrators, and successors, jointly and severally
firmly by these presents. *Five and NO/100
THE CONDITION OF THIS OBLIGATION IS SUCH that, if the above burden
Principal, his. or Its heirs, executors, administrators, successors or assigns, shall in all
things stand to and abide by and well and truly keep and perform all the undertakings,
terms, covenants, conditions and agreements in the said contract and any alteration
thereof made as therein provided, an his or their part, to be kept and performed, at the.
time and in the manner therein specified, and in all respects according to their true
intent an meaning, and shall indemnify and save harmless the Costa Mesa Sanitary
District, its officers and agents, as therein stipulated, then this obligation Shall become
null and void otherwise it shall be and remain in full force and virtue. This obligation
covers a one-year guarantee on work performed after said work has been completed.
1
The one-year period shall commence on the date the Notice of Completion has been
recorded.
In case suit is brought upon this bond, Surety further agrees to pay all court costs
and reasonable attorneys' fees as fixed by the court.
And the said Surety for value received, hereby stipulates and agrees that no
change, extension of time, alteration or addition to the terms of the Contract or to the
work to be performed thereunder or the specifications accompanying the same shall in
any way affect its obligations on this bond, and it does hereby waive notice of any such
change, extension of time, alteration or addition to the terms of the Contract or to the
work or to the specifications.
All signatures shall be properly notarized and a properly authenticated power of
attorney must be submitted
IN WITNESS WHEREOF, we have hereunto set our hands and seals this 25th
day of June 20 07
PRINCIPAL Vadnais Corporation
CONTRAC
By:
Company Represerxtative Jeff Anderson, Vice President
In accordance with the Contract described above, all bonds shall be issued by an
admitted surety insurer and the District reserves the right to Object to any such surety, In
accordance with Code of Civil Procedure Section 995.660.
By signing below Surety certifies that the bonds are issued by admitted Surety
r N Ar•h Insurance Company
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" Pa y Representative Janina Monroe Attorney-in-Fact
' ''PR rVEDAS OFORM,
By e •
Alan R. Burns, District Counsel
Costa Mesa Sanitary District
2
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
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P. 74,7 MARCH 11 2008 t acted, executed the instrument.
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:lz. Though the information below is not required by law,it may prove valuable to persons relying on the document and could prevent J
fraudulent removal and reattachment of this torm to another document.
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