HomeMy WebLinkAboutTimothy Rose Contracting, Inc.March 30, 2012
Timothy Rose Contracting, Inc.
1360 SW Old Dixie Hwy
Vero Beach, FL 32962
RE: Release of Payment & Performance Bond for Powerline Road Extension Project
in the amount of $1,143,887.39 — Bond # 478779P
To Whom It May Concern:
In accordance with a request from City of Sebastian Administrative Services Director, Debra
Krueger and assurance that all required work has been completed, I am releasing bond
#478779P. The Payment & Performance Bonds were issued by Developers Surety and
Indemnity Company in the amount of $1,143,887.39 to the City of Sebastian for the project
"Powerline Road Extension (Main Street -Through CR512) Project", within the City of Sebastian,
dated April 27, 2011.
Since'
Sally A. Mt. MC
City Clerk
Attachment: Original Bond #478779P
Copy of Contractor Certificate of Project Completion
cc. City Manager
City Attorney
Administrative Services Director
Public Works Director
14019 INSCO INSURANCE SERVICES, INC.
[nscghlco Underwriting Managers for:
(9 o o up Developers Surety and Indemnity Company
Indemnity Company,� of California
17780 Fitch, Suite 200 • Irvine, California 92614 • (800) 782-1546
PAYMENT BOND — PUBLIC WORK
(Florida Statute § 255.05)
Bond. 478779P
$13,535.71 (Premium is for
contract term and is subject to adjustment
based on final Contract Price)
KNOW ALL MEN BY THESE PRESENTS: that
Timothy Rose Contracting, Inc.
1360 SW Old Dixie Hwy., Vero Beach, FL 32962
772-564-7800
(Insert full legal name, principal business address, and phone number of Contractor)
as Principal ("Contractor") and
Developers Surety and Indemnity Company
100 2nd Avenue South, Ste 704 South, St. Petersburg, FL 33701
727-822-5610
(Insert full legal name, principal business address, and phone number of Surety)
as Surety ("Surety") are held and firmly bound unto
City of Sebastian
1225 Main Street, Sebastian, FL 32958
772-589-5330
(Insert full legal name, principal business address, and phone number of Owner)
as Obligee ("Owner") in the amount of One Million One Hundred Forty Three Thousand Eight
Hundred Eighty Seven Dollars and 39/100 Dollars ($1,143,887.39 )
(the "Penal Sum of the Bond"), lawful money of the United States of America, and for the payment whereof
Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly
and severally, firmly by these presents.
WHEREAS, Contractor has by written agreement dated �1.P 20//
entered into a contract with Owner (the "Contract") for
Powerline Road Extension (Main Street -Through CR 512)
Sebastian, FL
(Insert full legal name, address, contract number and description of Project)
NOW THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly
make payments to all Claimants as defined herein who furnish labor, services or materials for the prosecution
of the work provided for in the Contract, then this obligation shall be null and void; otherwise it shall
remain in full force and effect in accordance with the terms and conditions set forth below.
ID -1729 (FL) (12/07) • Page 1 of 4
1. Statutory Bond. This Bond is issued pursuant to Florida Statute §255.05, and not as a common
law bond, and incorporates herein by reference the notice and time limitation provisions set forth in that
statute (including, but not limited to, Florida Statute §255.05(2) and (10)).
2. Definitions. The following terms, as used herein, are defined as follows:
2.1 Claimant. An individual or entity defined in Florida Statute §713.01, who furnishes labor,
services or materials for the prosecution of the work provided for in the Contract.
2.2 Final Furnishing. The last date that the Claimant furnishes labor, services, or materials for
the prosecution of the work provided for in the Contract. Such date may not be measured by other
standards, such as the issuance of a certificate of occupancy or the issuance of a certificate of final
completion, and does not include correction of deficiencies in the Claimant's previously performed
work or materials supplied.
3. Conditions Precedent. The Surety's obligation under this Bond shall arise only after the following
conditions precedent, set forth herein are satisfied:
3.1 Claimants in Privity. Claimants, who have a direct contract with the Contractor, shall:
1. Ninety (90) DU Notice of Non Pavm,�ent,. Deliver to the Contractor and the Surety
written notice of the performance of the labor or delivery of the materials or supplies
and of the nonpayment at any time during the progress of the work or thereafter, but
not later than 90 days after the final furnishing of the labor, services, or materials by
the Claimant, or with respect to rental equipment, not later than 90 days after the date
that the rental equipment was last on the job site available for use. Any Notice of
Non Payment which includes sums for retainage must specify the portion of the
amount claimed for retainage; and
2. Statute of Limitation. Institute action against the Surety on the Bond within one (1)
year after the final furnishing of the labor, services, or materials by the Claimant.
3.2 Claimants Not in Privity. Claimants, who do not have a direct Contract with the
Contractor, shall:
1. Notice to Contractor. Before commencing or not later than 45 days after
commencing to furnish labor, services, or materials for the prosecution of the work,
furnish the Contractor with a written notice that he or she intends to look to the Bond
for protection; and
2. Ninety (90) Day Notice of Non Payment. Deliver to the Contractor and the Surety
written notice of the performance of the labor or delivery of the materials or supplies
and of the nonpayment at any time during the progress of the work or thereafter but
not before 45 days after the first furnishing of labor, services, or materials, and not
later than 90 days after the final furnishing of the labor, services, or materials by the
Claimant, or with respect to rental equipment, not later than 90 days after the date
ID -1729 (FL) (12/07) • Page 2 of 4
that the rental equipment was last on the job site available for use. Any Notice of Non
Payment which includes sums for retainage must specify the portion of the amount
claimed for retainage; and
3. Statute of Limitation. Institute action against the Surety on the Bond within one (1)
year after the final furnishing of the labor, services, or materials by the Claimant.
4. Limitation of Liability. This obligation shall be null and void if the Contractor or Surety promptly
makes payment, directly or indirectly, for all sums due. In no event shall the Surety's total obligation
exceed the penal sum of this Bond, and the amount of this Bond shall be credited for any payments made
by the Surety.
5. Trust Funds. Amounts owed by the Owner to the Contractor under the Contract shall be used for
the performance of the Contract and to satisfy claims, if any, under any Performance Bond and/or this Bond.
By the Contractor furnishing and the Owner accepting this Bond, each agrees that all funds earned by the
Contractor in the performance of the Contract are dedicated to satisfy obligations of the Contractor and the
Surety under this Bond.
6. No Third Parr Beneficiary C, laims. The Surety shall only be liable for the obligation of the
Contractor to pay for labor, services, materials fiunished for use in the prosecution of the Contract. No right of
action shall accrue on this Bond to those not within the description of Claimants as defined in Section 2.1.
7. Att, rn sY ' Fees. The prevailing party in any action under this Bond shall be entitled to recover its
reasonable attorneys' fees and costs incurred in connection with the action, and any subsequent appeals.
The parties waive trial by jury as to any such litigation arising under this Agreement.
8. Priority of Bond. This Bond shall govern the liability of the Surety. In the event of any conflicts
between any contract, purchase order, invoice or other writings and this Bond, this Bond shall control.
9. Venue. No suit or action shall be commenced by a Claimant under this Bond other than in a court
of competent jurisdiction in the location in which the work or part of the work is located.
10. Construction of Bond. The provisions of this Bond shall be applied and interpreted in a manner
consistent with each other and with the applicable statutory authorities. If for any reason any provision of
this Bond is legally unenforceable or invalid, such provision shall be deemed severed from this Bond and
the remaining provisions shall be carried out with the same force and effect as if the severed portion had
not been a part hereof.
[THIS SECTION INTENTIONALLY LEFT BLANK]
ID -1729 (FL) (12/07) • Page 3 of 4
11. Notice. Notice to the Surety, the Owner or the Contractor shall be mailed or delivered to the address
shown on the signature page. '
CONTRACTOR AS PRINCIPAL
Timothy Rose Contracting, Inc.
(Insert full legal name of Principal) (Corporate Seal)
(Signature of Authorized Representative of Principal)
Timothy Rose President
(Insert full name and title of signatory)
SURETY
Developers Surety and Indemnity Company
ert full legal name of Surety) (Corporate Seal)
(Signature of Authorized Representative of Surety)
Robert Barra Attorney In Fact
(Insert full name and title of signatory)
ID -1729 (FL) (12/07) • Page 4 of 4
CTH19 lNSCO INSURANCE SERVICES, INC.
'r1sCQalcoUnderwriting Managers for:
(9n(gup Developers Surety and Indemnity Company
Indemnity Company of California
17780 Fitch, Suite 200 • Irvine, California 92614 • (800) 782-1546
PERFORMANCE BOND — PUBLIC WORK
(Florida Statute §255.05)
Bond. 478779P
$ 13,535.71 (Premium is for
contract term and is subject to adjustment
based on final Contract Price)
KNOW ALL MEN BY THESE PRESENTS: that
Timothy Rose Contracting, Inc.
1360 SW Old Dixie Hwy., Vero Beach, FL 32962
772-564-7800
(Insert full legal name and address of Contractor)
as Principal ("Contractor") and
Developers Suretv and Indemnitv Comvan
100 2nd Avenue South, Ste 704 South, St. Petersburg, FL 33701
727-822-5610
(Insert full legal name and address of Surety)
as Surety ("Surety") are held and firmly bound unto
City of Sebastian
1225 Main Street, Sebastian, FL 32958
772-589-5330
(Insert full legal name and address of Owner)
as Obligee ("Owner") in the amount of One Million One Hundred Forty Three Thousand Eight
Hundred Eighty Seven Dollars and 39/100 Dollars ($ 1,143,887.39 )
(the "Penal Sum of the Bond'), lawful money of the United States of America, and for the payment whereof
Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly
and severally, firmly by these presents.
WHEREAS, Contractor has by written agreement dated
entered into a contract with Owner (the "Contract") for
Powerline Road Extension (Main Street - Through CR 512)
Sebastian, FL
(Insert full name and address and description of Project)
20
which Contract is. hereby referenced for the purpose of identifying the scope of work to be performed in the
event the conditions of this Bond are triggered.
NOW THEREFORE, THE CONDITION OF THIS OBLIGATION is such that, if Contractor shall promptly
and faithfully perform said Contract, then this obligation shall be null and void; otherwise it shall remain in
full force and effect in accordance with the terms and conditions set forth below.
ID -1728 (FL) (12/47) a Page 1 of 4
1. If the Contractor performs the Contract, the Surety and the Contractor shall have no obligation
under this Bond except to participate in conferences as provided in Section 2.1.
2. If there is no Owner Default as defined in Section 2.43 the Surety's obligation under this Bond shall
arise only after the following conditions precedent; set forth in Sections 2.1 through 2.3, are satisfied:
2.1 The Owner has notified the Contractor and the Surety at its address described in Section 10
below that the Owner is considering declaring a Contractor Default as defined in Section 2.5 and
has requested and attempted to arrange a conference with the Contractor and the Surety to be held
not later than fifteen (15) days after receipt of such notice to discuss methods of performing the
Contract. If the Owner, the Contractor and the Surety agree, the Contractor shall be allowed a reasonable
time to perform the Contract, but such an agreement shall not waive the Owner's right, if any,
subsequently to declare a Contractor Default; and
2.2 The Owner has declared a Contractor Default and formally terminated the Contractor's right
to complete the Contract and notify the Surety in writing of such Contractor Default and termination.
Such Contractor Default and termination shall not be declared earlier than twenty (20) days after the
Contractor and the Surety have received notice as provided in Section 2.1; and
2.3 The Owner has agreed to pay the Balance of the Contract Price as defined in Section 5 to
the Surety or to a contractor selected to perform the Contract, the timing of which shall be governed
in accordance with the terms of the Contract or other mutually agreed upon arrangement.
2.4 Owner Default: A material breach of the Contract by 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.
2.5 Contractor Default: A material breach of the Contract by the Contractor, which has neither
been cured, reinedied or waived, warranting the Owner to terminate the Contractor, provided that
the Owner has complied with the default provisions of the Contract.
3. When the Owner has satisfied the conditions precedent of Section 2, the Surety shall promptly and
at the Surety's expense take one of the following actions:
3.1 Arrange for the Contractor, with consent of the Owner, to perform and complete the
Construction Contract; or
3.2 Undertake to perform and complete the Contract itself, through its agents or through
independent contractors; or
3.3 Obtain bids or negotiated proposals from qualified contractors acceptable to the Owner for
a contract for performance and completion of the Contract, and 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 Contract; or
ID -1728 (FL) (12/07) • Page 2 of 4
3.4 Waive its rights to perform and complete, arrange for completion, or obtain a new contractor
and with reasonable promptness under the circumstances:
1. After investigation, determine the amount for 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. Deny liability, in whole or in part, and notify the Owner citing the'reasons therefor.
4. If the Surety does not proceed as provided in Section 3 with reasonable promptness, the Surety shall
be deemed to be in default on this Bond fifteen (15) days after receipt of an additional written notice from
the Owner to the Surety demanding that the Surety perform its obligation under this Bond, and then the
Owner shall be entitled to enforce any remedy available to the Owner. Such fifteen (15) day notice shall
constitute a condition precedent under this Bond. If the Surety proceeds as provided in Section 3.4, and the
Owner refuses the payment tendered or the Surety has denied liability, in whole or in part, without fiirther
notice the Owner shall be entitled to enforce any remedy available to the Owner.
5. After the Owner has terminated the Contractor's right to complete the Contract, and if the Surety
elects to act under Section 3.1, 3.2 or 3.3 above, then the responsibilites of the Surety to the Owner shall
be to perform the scope of work under the Contract and shall not exceed the Penal Sum of the Bond. In the
event the Owner completes the scope of work under the Contract, the Surety's liability shall be limited to
the reasonable cost of completion less the Balance of the Contract Price, subject to the Penal Sum of the
Bond. The term "Balance of the Contract Price" shall mean the total amount payable by Owner to
Contractor under the Contract as if there was no default, including any amendments thereto, less the amount
validly and properly paid by Owner to Contractor.
6. The Surety shall only be liable to the Owner for obligations of the Contractor that are directly related
to the construction of the Contract. 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.
7. The prevailing party in any action under -this Bond shall be entitled to recover its reasonable
attorneys' fees and costs incurred in connection with the action, and any subsequent appeals. The parties
waive trial by jury as to any such litigation arising under this Agreement.
8. This Bond shall govern the liability of the Surety. In the event of any conflicts between the Contract
and this Bond, this Bond shall control.
9. Any proceedings, legal or equitable, under this Bond shall 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 obligation under this Bond, whichever occurs first. If the
provisions of this Paragraph are void or prohibited by law, the minimum period of limitation available to
sureties as defense in the jurisdiction of the suit shall be applicable.
10. Notice to the Surety, the Owner or the Contractor shall be mailed or delivered to the address shown
on the signature page.
ID -1728 (FL) (12/07) • Page 3 of 4
11. This Bond shall be construed.as a statutory bond in accordance with Florida Statute §255.05, and
not as a common law bond. When this Bond has been furnished 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 here from and provisions
conforming to such statutory or other legal requirement shall be deemed incorporated herein.
CONTRACTOR AS PRINCIPAL
Timothy Rose Contracting, Inc.
(Insert full legal name of Principal) (Corporate Seal)
(Signature of Authorized Representative of Principal)
Timothy Rose President
(Insert full name and title of signatory)
SURETY
and Indemnity Company
full legal name of Surety) (Corporate Seal)
of Authorized Representative of Surety)
Robert Barra Attorney In Fact
(Insert full name and title of signatory)
1D-1728 (FL) (12/07) • Page 4 of 4
478779P
POWER OF ATTORNEY FOR
DEVELOPERS SURETY AND INDEMNITY COMPANY
Ij0 Box 19725, IRVINE, CA 92623 (949) 263.3300
KNOW ALL BY THESE PRESENTS that except as expressly limited, DEVELOPERS SURETY AND INDEMNITY COMPANY, does hereby make, constitute and appoint:
***Robert Barra***
as its true and lawful Attomey(*ln-Fact, to make, execute, deliver and acknowledge, for and on behalf of said corporation, as surety, bonds, undertakings and contracts of suretyship
giving and granting unto said Attomey(s}In-Fact full power and authority to do and to perform every act necessary. requisite or proper to be done In connection therewith as each of said
corporation could do, but reserving to each of said corporation full power of substitution and revocation, and all of the ads of said Attomey(sym-Fact. pursuant to these presents, are
hereby ratified and confirmed.
This Power of Attorney is granted and Is signed by facsimile under and by authority of the following resolution adopted by the Board of Directors of DEVELOPERS SURETY AND INDEM-
NITY COMPANY, effective as of January 1st, 2008.
RESOLVED, that a combination of any two of the Chairman of .tire BoardrPre41dent, any Executive Vice=President, Senior Vice -President or vie -President of the corpo•
radon be, and that each of them hereby is, authorized to execute this Power of Attorney; gVafifymg the attomey(s) named In the Power of Attomey to execute, on behalf of the corporation,
bonds, undertakings and contracts of suretysttlp; and that the Secretary or any Assistant Secretary of the corporation be, and each of them hereby is, authoozed to attest the execution of
any such Power of Attorney;
RESOLVED, FURTHER, that the signatures of such officers may be affixed to any such Power of Attorney or to any certificate relating thereto by facsimile, and any such
Power of Attorney or certificate bearing such facsimile signatures shall be valid and binding upon the corporation when so affixed and in the future with respect to any bond, undertaking
or contract of suretyship to which it is attached.
IN WITNESS WHEREOF, DEVELOPERS SURETY AND INDEMNITY COMPANY has caused these presents to be signed by its officers and attested by its Secretary or Assistant Secre-
tary this January 1st, 2008.
Bir
,14 ANDAr
Daniel Young, Vice -President ?••'�� �''poR,�'••• Fey
:y ,
_ = o0
su+: 10 z�
By:
Stephen T. Pate, Senior Vice -President
State of California '''.,,.....
County of Orange
On August 13th. 2008 before me, Jenny TT Nguyen, Notary Public
Date Here Insert Name and Title of the Officer
personally appeared Daniel Young and Stephen T Pate
Name(s) of Signer(s)
' ?• '- • tea,: ; .. ' _ 1 •
wtto�provea W me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to
the within Instrument and acknowledged to me that hefsheNrey executed the same In his/her/their authorized
JENNYTf NGL"M capaciitypes), and that by hisfherRhe€r signatures) on the Instrument the person(s), or the entity upon behalf of
COMM. # 1701640 which the person(s) acted, executed the instrument.
NOTARY PUBLIC CAMI certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is
ORANGE COLOW true and correct.
My oarnm. expires Fd.106 2M
' WITNESS my hand and official seal.
Place Notary Seal Above Signature
J 1T Ng n. Lary Public
CERTIFICATE
The undersigned, as Secretary orAssistant Secretary of DEVELOPERS SURETY AND INDEMNITY COMPANY does hereby certify that the foregoing Power of Attorney
remains in full force and has not been revoked and, furthermore, that the provisions of the resolution of the Board of Directors of said corporation set forth In the Power of Attorney are In
force as of the date of this Certificate.
This Certificate is executed In the City of Irvine, California, this 1 5day of April 2011
By: �
Gregg Ok ' tan" Secretary
ID-1438(Rev11109)