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HomeMy WebLinkAbout26-05-ITB Payment and Performance BOND3120260009069 RECORDED IN THE RECORDS OF RYAN L. BUTLER, CLERK OF CIRCUIT COURT INDIAN RIVER CO FL BK: 3841 PG: 214, 2/27/2026 10:19 AM Bond #: 542700/6 PERFORMANCE BOND BY THIS BOND, We Titan Construction Management LLC as Principal, hereinafter called Contractor, and United Fire & Casualty Company , as Surety, are bound to the City of Sebastian, Florida, as Obligee, hereinafter called City, in the amount of Seven Hundred Fifty Six Thousand Two Hundred Fifrty 001700 Dollars ($ 756,250.00 ) for the payment whereof Contractor and Surety bind themselves, their heirs, executors, Elkcam Waterway in the City of Sebastian (Section 25, administrators, successors and assigns, jointly and severally. Township 31S, Range 38E) WHEREAS, Contractor has by written agreement entered into a Contract, 26-05- ITB, Concha and Stonecrop Sheet Pilina Repair, awarded the 111h day of Februarv, 2026, with City which Contract Documents are by reference incorporated herein and made a part hereof, and specifically include provision for liquidated damages, and other damages identified, and for the purposes of this Bond are hereafter referred to as the "Contract"; THE CONDITION OF THIS BOND is that if Contractor: 1. Performs the Contract between Contractor and City for Concha and Stonecrop Sheet Piling Repairs, the Contract being made a part of this Bond by reference, at the times and in the manner prescribed in the Contract; and 2. Pays City all losses, liquidated damages, expenses, costs, and attorney's fees, including appellate proceedings, that City sustains as a result of default by Contractor under the Contract; and 3. Performs the guarantee of all Work and materials furnished under the Contract for the time specified in the Contract; then THIS BOND IS VOID, OTHERWISE IT REMAINS IN FULL FORCE AND EFFECT. 4. Whenever Contractor shall be, and declared by City to be, in default under the Contract, City having performed City obligations hereunder, the Surety may promptly remedy the default, or shall promptly: 4.1. Complete the Project in accordance with the terms and conditions of the Contract Documents; or 4.2 Obtain a bid or bids for completing the Project in accordance with the terms and conditions of the Contract, and upon determination by Surety of the lowest responsible Bidder, or, if City elects, upon determination by City and Surety BK: 3841 PG: 215 jointly of the lowest responsible Bidder, arrange for a contract between such Bidder and City, and make available as Work progresses (even though there should be a default or a succession of defaults under the Contract or Contracts of completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the Contract Price; but not exceeding, including other costs and damages for which the Surety may be liable hereunder, the amount set forth in the first paragraph hereof. The term "balance of the Contract Price," as used in this paragraph, shall mean the total amount payable by City to Contractor under the Contract and any amendments thereto, less the amount properly paid by City to Contractor. No right of action shall accrue on this bond to or for the use of any person or corporation other than City named herein. The Surety hereby waives notice of and agrees that any changes in or under the Contract Documents and compliance or noncompliance with any formalities connected with the Contract and that any changes do not affect Surety's obligation to perform under this Bond. The Surety hereby waives notice of any change, including changes of time, to the Construction Contract or to related subcontracts, purchase orders, and other obligations, Signed and sealed this 16th day of February 2026. BK: 3841 PG: 216 WITNESS: ,N (Secretary) (CORPORATE SEAL) IN THE PRESENCE OF: (Notary required for Contractor's Signature) STATE OF COUNTY OF CONTRACTOR: Titan Construction Management LLC (Name of)go oration) By: 1 tom! y (Signature) Sl (Print Name and Title) INSURANCE COMPANY: United Fire 8 Casu 1. Company By: }« =o 2— (Kgj-nt—in—d'Attorney-iri-Factyeith A. Miller Address: 118 Second Ave., SE (Street) Cedar Rapids, IA, 52401 (City/State/Zip Code) Phone: (412)529-9033 The foregoing instrument was acknowledged before me, by means of hysical presence or online notarization, this f day of n d (year) by r, 3 who is personally known to me or who has produced as identification and who did (did not) take an oath. .14 C. (Signature of Notary Public) ri l S (Name of Notary — Typed, printed or stamped) /45/ (Notary Seal / Serial Number) l kv o (Date) r�Y IRENE C TIRIKOS Notary public • State of Florida " Commission x HH 517830 My Comm, Expires Apr 21, 2028 9onced through National Notary Assn. BK: 3841 PG: 217 PAYMENT BOND BY THIS BOND, We Titan Construction Manaqement LLC , as Principal, hereinafter called Contractor, and United Fire & Casualty Company , as Surety, are bound to the City of Sebastian, Florida, as Obligee, hereinafter called City, in the amount of Seven Hundred Fifty StxThousand Two Hundred FifriyOW100 Dollars ($ 756 250.00 ) for the payment whereof Contractor and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally. WHEREAS, Contractor has by written agreement entered into Contract No. 26- 05-ITB, for Concha and Stonecrov Sheet Pilinq, awarded the 11t" day of February, 2026, with City which Contract are by reference incorporated herein and made a part hereof, and specifically include provision for liquidated damages, and other damages identified, and for the purposes of this Bond are hereafter referred to as the "Contract"; THE CONDITION OF THIS BOND is that if Contractor: 1. Pays City all losses, liquidated damages, expenses, costs, and attorney's fees including appellate proceedings, that City sustains because of default by Contractor under the Contract; and 2. Promptly makes payments to all claimants as defined by Florida Statute 255.05(1) for all labor, materials and supplies used directly or indirectly by Contractor in the performance of the Contract; THEN CONTRACTOR'S OBLIGATION SHALL BE VOID; OTHERWISE, IT SHALL REMAIN IN FULL FORCE AND EFFECT SUBJECT, HOWEVER, TO THE FOLLOWING CONDITIONS: 2.1. A claimant, except a laborer, who is not in privity with Contractor and who has not received payment for its labor, materials, or supplies shall, within forty-five (45) days after beginning to furnish labor, materials, or supplies for the prosecution of the Work, furnish to Contractor a notice that he intends to look to the bond for protection. 2.2. A claimant who is not in privity with Contractor and who has not received payment for its labor, materials, or supplies shall, within ninety (90) days after performance of the labor or after complete delivery of the materials or supplies, deliver to Contractor and to the Surety, written notice of the BK: 3841 PG: 218 performance of the labor or delivery of the materials or supplies and of the nonpayment. 2.3. No action for the labor, materials, or supplies may be instituted against Contractor or the Surety unless the notices stated under the preceding conditions (2.1) and (2.2) have been given. 2.4. Any action under this Bond must be instituted in accordance with the longer of the applicable Notice and Time Limitations provisions prescribed in Section 255.05(2), or Section 95-11, Florida Statutes. The Surety hereby waives notice of and agrees that any changes in or under the Contract Documents and compliance or noncompliance with any formalities connected with the Contract or the changes does not affect the Surety's obligation under this Bond. Signed and sealed this 16th day of February , 2026. BK: 3841 PG: 219 WITNESS: (Secretary), (CORPORATE SEAL) IN THE PRESENCE OF: ¢Jf n 1-41 (Notary required for Contractor's Signature) STATE OF COUNTY OF CONTRACTOR: Titan Construction Management LLC (Name of Corporation) By: (Signature) ® qP �W (Print Name and Title) INSURANCE COMPANY: United Fire ,&�Casualtyompany (Agent and Attorney-in-Fact)Keith A. Miller Address: 118 Second Ave., SE (Street) Cedar Rapids, IA, 52401 __ (City/State/Zip Code) Phone: (412)529-9033 The foregoing instrument was acknowledged before me, by means of physical presence or online notarization, this , day of v (year) by who is personally known to me or who has produced V, as identification and who did (did not) take an oath. (Signature of Notary Public) �f_ pUO (Name of Notary — Typed, printed or stamped) /4 / (Notary Seal / Serial Number) (Date) f,Af,a�y i�yi� f�t,,: A'ar3 1 ,/,•' IRENE C TIRIKOS Notary Public • State of Florida Commission 4 HH 517830 My Comm. Expires Apr 21, 2028 Bonded through National Notary Assn. BK: 3841 PG: 220 UNITED FIRL-' & CASUALTY CONIPANY, CEDAR RAPIDS, IA Inquiries: Surety I)epartinent UNITED FIRE & INDEMNITY COMPANY, WEBSTER, TX 118 Second Ave SE, ufg1m FINANCIAL, PACIFIC INSURANCE COMPANY, LOS ANGELES, CA Cedar Rapids, IA S2401 INSURANCE CERTIFIED COPY OF PO�VLR OF A'I"tORNL'.Y (original on file at IIonle Office of Company — See Certification) KN01V ALL PERSONS BY TtIESE PRESENTS, That United Fire & Casualty Company, a corporation duly organized and existing under the laws of the Slate of Iowa; United Fire & Ind.ennlity Company, a corporation duly organized and existing tinder the laws of the State of 'texas; and Financial Pacific Insurance Company, a corporation duly organized and existing under the laws of the State of Califoniia (herein Collectively called the Compaties), and having their Corporate headquarters in Cedar Rapids, State of Iowa, sloes make, constitute alid appoint KEITH A. MILLER, JAMES KLINGENSMITH, MONICA BONILLA, BRIAN M. BATTAGLIA, OLIVIA PACHECO, CHRISTOPHER A. HOWARD, EACH INDIVIDUALLY their true and lawful Attorney(s)-iti-Fact with power and authority hereby conferred to sign, seal and execute in its behalf all lawful bonds, undertakings and other obligatory instruments of similar nature provided that no single obligation shall exceed. $ 25 , 000 , 000.00 and to bind the Companies thereby as fully and to the same extent as if such iristnulnents were signed by the duly authorized officers of the Companies and all of the acts of said Attorney, pursuant to the authority hereby given and hereby ratified and confi.rmed.. 'the Authority licreby granted. shall expire the9th day of May, 2027 unless sooner revoked by United Fire & Casualty Coupally, United Fite & Indemnity Company, and Financial Pacific Insurance Company. 'Iliis Power of Attoniey is made and executed pursuant to and by authority of the followbrg bylaw duly adopted by the Boards of Directors of United Fire & Casually Company, United Fire & Indemnity Company, and Financial Pacific Insurance Company. "Article Vll — Surety Bonds and Undertakings" Section 2, Appointment of Attontey-in-Fact. "The President or any Vice President, or any other officer of the Companies may, from time to tine, appoint by written certifleates attorneys-im-fact to act in behalf of the Companies in the execution of policies of insurance, bonds, undertakings and other obligatory instruments of like nature. 7 he signature of any officer authotized hereby, and the Corporate seal, may be affixed by faesunile to any power o f attomcy or special power of attorney or certification of either authorized hereby; such signature aid seal, when so used, being adopted by the Companies as the original signature of such officer and the original seal of the Companies, to be valid mid binding upon the Companies with the same force and effect as though manually affixed_ Such attorneys -in -fact, subject to the limitations set of forth in their respective certificates of authority shall have full power to bind Elie Companies by their signature and execution of any such instruments and to attach the seal the Companies thereto_ The President or any Vice President, the Board of I)irectors or any other officer of lire Companies may at any time revoke all powerand authority previously given to any attoney-in-first. IN GVITNLSS WHEREOF, the COMPANIES have each caused these presents to be signed by its plFlri;�' „l`\slr7SVq''rr,, vice president and its corporate seal to be hereto affixed this 'f� t` L� ,1PO..... ! 1 9th day Of May, 2025 ?F conroaaTE y =w coAroaAre °s= _ °airzalFd Q' UNITED FIRE &. CASUALTY COMPANY 5z ?; UNITED FIRE & INDEMNITY COMPANY srnt 5 - zy.,oitlFot+t`P,e2' FINANCIAL PACIFIC INSURANCECOMPANY � ��k A'113Y,5 +\\ ,',f�lgsT jpltf�\�++++ Jr�rifryrptnl,lutvM" \`„` State of Iowa, County of Linn, ss: Vice President On 9th day of May, 2025, before me personally came Kyanna M. Saylor to nie known, who being by Elie duly swonl, did depose and say; that she resides in Cedar Rapids, State of Iowa; that she is a Vice President of United Fire & Casualty Company, a Vice President of United Fire & Indemnity Company, and a Vice President of Financial Pacific Insurance Company the corporations described ill and which executed the above insuument; that she knows the seal of said cotpoi'alions; that the seal affixed to the said instiUnicnl is such corporate seal; that it was so affixed pursuant to authority given by Elie Board of Directors of said corporations and that she signed her name thereto ptrsuant to like authority, and acknowledges same to be the act and deed of said corporations. plat Judith A. Jones Iowa Notarial Seal • Commission number 173041 0wP, My Commission Expires 04/23/2027 Notary Public My commission expires: 04i2M2027 1, Mary A. Bertsch, Assistant Secretary of United Fire & Casualty Company and Assistant Secretary of United Fire & Indemnity Company, and Assistant Secretary of Financial Pacific Insurance Company, do hereby certify that I have compared the foregoing copy of the Power of Attortiey and affidavit, and the copy of the Section of the bylaws and resolutions of' said Corporations as set forth in said Power of Attonrey, with the ORIGINALS ON FILE IN THE HOME OFFICE OF SAID CORPORATIONS, and that the SamC aft: COITCCt tralISCripts thereof, and of the whole of the said originals, and that the said Power of Altoniey has not been revoked and is now bi full force and effect. In testialotiy whereof I have hereunto subscribed my name and. affixed the cotporate seal of the said Cotl)oralious this 16th dayof February 2026 Cp O � y coar'O817E j F •— 7 SEAL BPOA0045 122017 `Y�nou;A��fl� o,+•�``��F\G}�+Sbg4%i ?� C6aPt_'n ATF. 3� i Y:_ lY2 SEAL c }9El6 ;'y 5 , �1 iln 11il-, ,1111,j 1111tU1+d`+`+, By:� A Z4-,-Ju Assistant Secretary, OF&C & OF&I & FPIC BK: 3841 PG: 221 UNITED FIRE AND CASUALTY COMPANY P.O Box 73909, Cedar Rapids, IA. 52407 Statement of Financial Condition As Of December 31. 2024 ASSETS Bonds S899,971,509 Stocks 369,710,724 Real Estate and Equipment 39,924,087 Other Invested Assets 230,6€4,762 Cash in Hanks and Offices and Short Tenn Investments 99,082,543 Preiiums in Course of Collection (less than 90 days old) 409,343,102 Reinsurance and Other Accounts Receivable 49,430,269 Deposits and Other Non invested Assets 72,386,260 Total Admitted Assets $2,170,463,256 LIABILITIES, SURPLUS AND OTHER FUNDS Reserve for Unearned Premiums $345,904,551 Reserve for Claims and Claim Expense 990,363,710 Reserve for Takes and Expense 104.829.259 Total Liabilities $1,447,097,519 Capital Stock and Paid In Capital $286,754,635 Surplus Notes 50,000,000 Sill -Pitts 386,611,102 Surplus as regards Stockholders 723.365.737 Total 2 170.463.256 Securities carried at $8,941,380 in the above statement are deposited as required by law. Securities carried oil tine basis prescribed by the National Association of Insurance Commissioners. On the basis of December 31, 2024, inarket quotations for all bonds and stocks owned, ilia Company's total admitted assets would be S2,170,463,256 and surplus as regards shareholders $723,365,737. 1, Adam M. Vogt,'freasurer of United Fire and Casualty Company, do hereby certify that the foregoing statement is a correct exhibit of the assets and liabilities of the said Company on the 31"day of December, 2024. 7'reasu er State of Iowa City of Cedar Rapids If SS: Subscribed and sworn to, before me, a Notary Public of the State of Iowa in the City of Cedar Rapids, this _a'day of March, 2025. A'orapy Pith c r.... t Q& .... INS ELISSA . Number Commission umber 811695 . My Commission Expires 190 ., 07/16/2027 ..., ........... ................ .............