Bond - Miramontes - 1997-10-09 _aNOBEL INSURANCE COMPANY
SUITE 402
2296 HENDERSON MILL ROAD
ATLANTA, GEORGIA 30345
PERFORMANCE BOND
EXECU Ell IN TRIPLICATE
BOND NUMBER STDO-645427
KNOW ALL MEN BY THESE PRESENTS,That we, Miramontes Construction Co , Inc
hereinafter called Principal, and NOBEL INSURANCE COMPANY, a corporation organized and
existing under the laws of the State of Texas, as Surety hereinafter called Surety are held and
firmly bound unto Costa Mesa Sanitary District
ONE HUNDRED THIRTY SIX THOUSAND SEVEN
hereinafter called Obligee,in the penal sum of HUNDRED EIGHTY FOUR AND NO/I00
Dollars ($ 136 784 00******) for the payment whereof Principal and Surety bind themselves,
their heirs, executors, administrators, successors and assigns, jointly and severally firmly by
these presents.
WHEREAS, Principal has by written agreement dated October 9 19 97
entered into a contract with the Obligee for Project Nos 1112100-140 & 1112100-145
Reconstructing Various Sewer Lines
in accordance with the drawings and specifications prepared by
NOW THEREFORE,THE CONDITION OF THIS OBLIGATION is such,that if the Principal shall
promptly and faithfully perform the work called for under said Contract, then this obligation
shall be null and void, otherwise it shall remain in full force and effect.
Whenever Principal shall be, and be declared by Obligee to be in default under the Contract, the
Obligee having performed Obligee's obligations hereunder, the Surety may
(1) Promptly remedy the default subject to the provisions of paragraph(5)herein;or
(2) Complete the work under the contract in accordance with its terms and conditions subject
to the provisions of paragraph (5)herein;or
(3) Give reasonable notice to Obligee to arrange for completion of Principal's work under the
contract subject to the provisions of paragraph(5)herein;or
(4) Obtain a bid or bids for submission to the Obligee for completing the work called for under
the Contract and upon determination by the Obligee and Surety of the lowest responsible
bondable bidder arrange for a contract between such bidder with corporate Surety and
Obligee, and then pay the Obligee the bidder s price less the balance of the contract
amount;subject to the provisions of paragraph (5)herein;
(5) The balance of the contract amount, as defined below shall be credited against the
reasonable cost of completing performance of the work under the Contract. If completed
by the Obligee, and the reasonable cost exceeds the balance of the contract amount, the
Surety shall pay to the Obligee such excess, but in no event shall the aggregate liability of
the Surety exceed the penal sum amount of this bond. If the Surety arranges completion or
remedies the default, that portion of the balance of the contract amount as may be required
to complete the contract or remedy the default and to reimburse the Surety for its outlay
shall be paid to the Surety at the times and in the manner as said sums would have been
payable to Principal had there been no default under the contract. If the Surety tenders a
completing contractor to the Obligee, and the completion cost of the completing
contractors contract exceeds the balance of the contract amount, the Surety shall pay to the
Obligee such excess, but in no event shall the aggregate liability of the Surety exceed the
penal sum amount of this bond. The term 'balance of the contract price as used in this
paragraph,shall mean the total amount payable by Obligee to Principal under the Contract
and any amendments thereto, less the amount properly paid by Obligee under the
Contract.
Under no circumstances shall the Surety's obligation under this bond exceed the penal sum
amount of this Performance Bond.
Surety waives minor, but not major, changes and alterations in the contract and work to be
performed. However, Surety's obligation hereunder shall be void if the contract amount is
increased by ten percent(10%)or more of the original contract amount without written consent of
the Surety
Any suit under this bond must be instituted before the expiration of one(1)year from the date on
which the Principal last performed work at the job site where the Contract is being performed.
No right of action shall accrue on this bond to or for the use of any person or corporation other
than the Obligee named herein or the heirs, executors, administrators or successors of Obligee,
and this instrument may not be transferred or assigned without the written consent of the Surety
Signed and Sealed this 4th day of November 19 97 in the presence of:
Niramontes Construction Co Inc
Principal
BY:t Mi. ) ( (Seal)TitleVj a res
NOBEL INSURANCE COMPANY
BY ' ( /ti
Attorney-In-Fact Matthew R. Dobyns
CALIFORNIA ALL-PURPOSE ACKNOWLEDGMENT
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Slate of California
County of Los Angeles
On 11/4/97 before me, Yvette C Morales Notary Public
Al
Date Name nd Morales
of l (e 9. 'Jan Doe Notary Public') I
personally appeared Miriam Miramontes
Name(s)of Sign rls)
Cxpersonally known to me-OR-❑proved to me on the basis of satisfactory evidence to be the person(s)
e whose name(s) is/are subscribed to the within instrument i
t and acknowledged to me that heishe/they executed the
t 1 same in his/her/their authorized ca aci ies and that b
YVETTE C. MORALES P HC ), by
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his/her/their signature(s) on the instrument the person(s),
It o .fie;414,II NOTARY PUBLIC CALIFQRNIA +, or the entity upon behalf of which the persons) acted,
IF m `':> if� LOS ANGELES COUNTY " executed the instrument.
Ir 141Y COMM. EXPIRES OCT. 17, 2000 F
• WITNESS my hand and official seal.
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Signatur of Notary Public
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Though the information below is not required by law,it may s
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Title or Type of Document: Performance Bond iif
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Document Date: 11/4/97 Number of Pages: 2
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C Partner—I- Limited C General C Partner— Limited C General
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State of California
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County of Orange
g On 11-4-97 before me, Mary Angel —Notary Public
0 DATE NAME,TITLE OF OFFICER E G "JANE DOE,NOTARY PUBLIC-
0 personally appeared Matthew R. Dobyns 0
NAME(S)OF SIGNER(S)
ti ar personally known to me OR ❑ proved to me on the basis of satisfactory evidence
to be the person(s) whose name(%) ism
subscribed to the within instrument and ac
0 knowledged to me that h executed
the same in histardlimat authorized 1
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0 ORANGE COUNTY '
0 WITNESS my hand and official seal. 0
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SIGN TER:OF NOTARY
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0 Though the data below is not required by law it may prove valuable to persons relying on the document and could prevent k
fraudulent reattachment of this form.
0 CAPACITY CLAIMED BY SIGNER DESCRIPTION OF ATTACHED DOCUMENT
1� ❑ INDIVIDUAL 0
111 ❑ CORPORATE OFFICER 1
p TITLE OR TYPE OF DOCUMENT
1 TITLE(S)
0 ❑ PARTNER(S) ❑ LIMITED 1
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kDATE OF DOCUMENT
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kSIGNER IS REPRESENTING: l
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®1993 NATIONAL NOTARY ASSOCIATION 8236 Remmet Ave. P O.Bo 7184 Canoga Park,CA 91 30 9-71 84