The URL can be used to link to this page

Home My WebLink About1995-094 Pymt Bond - North River I.C.W. GROUP INSURANCE COMPANY OF THE WEST EXPLORER INSURANCE COMPANY INDEPENDENCE CASUALTY AND SURETY COMPANY 10140 Campus Point Drive · San Diego, CA 92121 LABOR & MATERIAL PAYMENT BOND BOND#137 35 48 THIS BOND IS ISSUED SIMULTANEOUSLY WITH PERFORMANCE BOND IN FAVOR OF THE OWNER CONDtTIONED ON THE FULL AND FAITHFUL PERFORMANCE OF THE CONTRACT KNOW AL/ MEN BY THESE PRESENTS: That NORTH RIVER EXCAVATION PIPELINE CONSTRUCTION~ INC. (Here insert full name and address or legal title of Contractor) P.O. BOX 696 GOLD HILL~ OREGON 97525 as Principal, hereinafter called Principal. and CITY OF ASHLAND INSURANCE COMPANY OF TH~ WEST (Here insert full name and address or legal title of Surety) , as Surety. hereinafter called Surety. are held and firmly bound unto (Here insert full name and address or legal title of Owner) as Obiiaee, hereinafter called Owner for the use and benefit of claimants as hereinbeiow defined, in the amount of SI XTY SEVEN THOtYSAND FOUR HUNDRED ~OUR DOLLARS & 50/100 ...................................... (Here insert a sum equal to at least one-half of the contract price) for tho payment whereof Principal and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and sever- ally. firmly by these presents. WHEREAS, Principal has by written agreement dated JULY ].2~ ]-995 entered inlO a contract with Owner for OAK STREE I L. 1 .U. ~ PRUJEC I NU.93-08 in accordance with drawings and specifications prepared by [HE L:L [ Y UP ASHLAND (Here insert full name and address or legal title of Architect) which contract is by reference made a part hereof, and is hereinafter referred to as the Contract. NOW, THEREFORE, THE CONDITION OF THiS OBLIGATION is such that, ti Principal shell promplty make payment lo all claimants as heceinefter defined, for all la- 2. The above named Principal and Surely hereby joinlly end severally agree with the Owner thal every cJaimanf as herein defined, who has riel been paid in full be- fore the explralion of a per~od of ninety (90) days after the date on which the last of such c~aimanFs work or labor was done or pedofmed, or materials were fur* Signed and sealed this 12TH day of 0Nitness) 0Nitness) ICW CAL-131 JULY NORTH RIVER EXCAVATION PIPELINE CONSTRUCTION.,. iNC. ,'! (Principal) (Seal) vINSURA~CE COMPANY OF THE WEST (Sure~) Insurance Company of the West HOME OFFICE; SAN DIEGO, CALIFORNIA POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That INSURANCE COMPANY OF THE WEST. a Cahlornia Corporation. cica· hereby ·ppomt: HOLLY NANSFI ELD This Power of Attorney is granted end is signed ·nd sealed by lacsimile under the authority of the following Resolution adopted by the Board of D~rectors on the 22nd day of November. 1994. which said Resolution has not been emended or rescinded ·nd of which th· followed ~s I l~u· copy; 'RESOLVED. that the Chairman el the Board. the President. an Executive Vice President or · Senior Vice President of the Comp·ny. and each of them. is hereby euthori;;ed to execute Powers of Attorney qualifying the attorney named in the given Power of Attorney to execute IN WITNESS WHEREOF. INSURANCE COMPANY OF THE WEST has caused these presents to be signed by I1~ duly Authorized officers ~is 15th day ~f December ts 94. STATE OF CALIFORNIA SS: COUNTY OF SAN DIEGO December 15th, INSURANCE COMPANY OF THE WEST 1994 before rn· personally appeared .John L. H·nnum. Senior Vice President of INSURANCE COMPANY OF THE WEST. I)~rsonally known to me to be the md~vidual end officer who executed the ~hin mstrument, and acknowledged WITNESS my hand mhd official seal. CERTIFICATE: K::W ~7 IN WITNESS WHEI~EOF. I INSURANCE C~MPANY OF THE WEST E. Hlrned Oav~. VK~ P~ssid·nt I. E. Harned Davis. V~ca President ef INSURANCE COMPANY OF THE WEST. (lo hereby certify thal the original POWER OF ATT(~RNEY. which the foregoing is I true ~)py. II etill in lull force Ind effect. I~d this this carlihcete may be signed by lac. simile ur, dar th· lUthO;ity th· &b~v· quoted resolution. nl~· is Vici President, on this /~,) ~'~ day of hive 17b,.~crib·d /ny 19(/~. I.C.W. GROUP INSURANCE COMPANY OF THE WEST EXPLORER INSURANCE COMPANY INDEPENDENCE CASUALTY AND SURETY COMPANY 10140 CAMPUS POINT DRIVE SANDIEGO, CA. 92121 PERFORMANCE BOND KNOW ALL MEN BY THESE pRESENTS: THAT NORTH RIVER EXCAVATION PIPELINE CONSTRUCTION, INC, AS PRINCIPAL, HEREINAFTER CALLED CONTRACTOIL AND INSURANCE COMPANY OF THE WEST · AS SURETY, 1 IEREINAFFER CALLED SURETY, ARE HELD AND FIRMLY BOUND UNTO CITY OF ASHLAND AS OBLIGEE, HEREINAFTER CALLED OWNER, IN THE AMOUNT OF DOLLARS (~7,404.S0), FOR THE PAYMENT WHEREOF CONTRACTOR AND SURETY BIND THEMSELVES, THEIR HEIRS, EXECUTORS, ADMINISTRATORS, SUCCESSORS AND ASSIGNS, JOINTLY AND SEVERALLY, FIRMLY BY THESE PRESENTS. WIfEREAS, CONTRACTOR HAS BY WRITTEN AGREEMENT DATED JULY 12,1995 ENTERED INTO A CONTRACT WITH OWNER FOR OAK STREET L.I.D., PROJECT NO. 93-08 IN ACCORDANCE WITH DRAWINGS AND SPECIFICATIONS PREPARED BY THE CITY OF ASHLAND WHICH CONTRACT iS BY REFERENCE MADE A PART HEREOF, AND IS HEREINAFTER REFERRED TO AS THE CONTRACT~ NOW, TIlEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH THAT, IF CONTRACTOR SHALL PROMPTLY AND FAIT11FULLY PERFORM SAID CONTRACT, TItEN THIS OBLIGATION SHALL BE NULL AND VOID; OTHERWISE IT SHALL REMAIN IN FULL FORCE AND EFFECT. THE SURETY IIEREBY WAIVES NOTICE OF ANY ALTERATION OR EXTENSION OF TIME MADE BY THE OWNER. WHENEVER CONTRACTOR SHALL BE, AND DECLARED BY OWNER TO BE IN DEFAULT UNDER THE CONTRACT, THE OWNER HAVING PERFORMED OWNER'S OBLIOATIONS THEREUNDER, THE SURETy MAY PROMPTLY REMEDY THE DEFAULT, OR SHALL PROMPTLY 1.) COMPLETE THE CONTRACT IN ACCORDANCE WITH 1TS TERMS AND CONDITIONS, OR 2.) OBTAIN A BID OR BIDS FOR COMPLETING THE CONTRACT IN ACCORDANCE WITH ITS TERMS AND CONDITIONS, AND UPON DETERMINATION BY SURETY OF THE LOWEST RESPONSIBLE BIDDER, OR, IF THE OWNER ELECTS, UPON DETERMINATION BY THE OWNER AND THE SURETY JOINTLY OF THE LOWEST RESPONSIBLE BIDDER, ARRANGE FOE A CONTRACT BETWEEN SUCH BIDDER AND OWNER, AND MAKE AVAILABLE AS WORK PROGRESSES (EVEN THOUGH THERE SttOULD BE A DEFAULT OR A SUCCESSION OF DEFAULTS UNDER THE CONTRACT OR CONTRACTS OF COMPl .ETLON 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 ,MqD DAMAGES FOR WHICH THE SURETY MAY BE LIABLE HEREUNDER, THE AMOUNT SET FORTtt IN THE FIRST PARAGRAPH HEREOF. THE TERM MBALANCE OF THE CONTRACT PRICE," AS USED IN THIS pARAGRAPH, SHALL MEAN THE TOTAL AMOUNT PAYABLE BY OWNER TO CONTRACTOR UNDER THE CONTRACT AND ANY AMENDMENTS THERETO, LESS THE AMOUNT PROPERLY PAID BY OWNER TO CONTRACTOR. ANy SUIT UNDER THIS BOND MUST BE INSTITUTED BEFORE THE EXPIRATION OF TWO (2) YEARS FROM THE DATE ON WHICII FINAL PAYMENT UNDER THE CONTRACT FALLS DUE. NO RIGHT OF ACTION SHALL ACCRUE ON Tills BOND TO OR FOR THE USE OF ANY PERSON OR CORPORATION OTHER THAN TIlE OWNER NAMED HEREIN OR TIlE HEIRS, EXECUTORS, ADMINISTRATORS OR SUCCESSORS OF OWNER. SIGNED AND SEALED THIS 12TII ICW CAL-130 DAY OF JULY A.D.1995 NORTll RIVER EXCAVATION PIPELINE CONSTRUCTION, I[ .N~ .... , (PRINCIPAL) ( (TITLE) ~.~ INSURANCE COMPANY OF TIlE ~VEST (St T . MOLLY ~D 'ATT O RN EY-'~-~ACT Insurance Company of the West HOME OFFICE: SAN DIEGO. CALIFORNIA POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That INSURANCE COMPANY OF THE WEST, · Cahfornia Corporahon. close ttereby appear: MOLLY ](ANSFI This Power of Attorney is granted and ii aigned end sealed by lacsimile under the authority of the foflowing Resolution adopted by the Board el D~ractors on the 22nd day o! November, 1994, which said Resolulion has not been emended or rescinded and of which the Iollow~ng ~s i b'ua copy: 'RESOLVED, that the Chairmen of the Board. the President. an Executive Vice President or · Senior Vice President of the Company. and each of them, is hereby authorized to execute Powers of Attorney qualifying the attorney named in the given Power of Attorney to execute on behalf of the Company, I~elify and aurety bonds, undertakings, or other contracts of suretyship of a similar'nature; lad to attach th·rile the aeal et lee Company; provided however, that the absence of the seal shall not affect the validity of the instrument. FURTHER RESOLVED. that the lags·tufas of such ofhcers and the lail of the Company, and the aignstures of lay witnesses, the aignatures and aeal of any ~tary. ;'nd the signatures of any ofliceTs ce~ifying the validity of the Power of Attorney, may be efl~xad by facsimile.' IN WITNESS WHEREOF, INSURANCE COMPANY OF THE WEST his caused these presents to be signed by its duly authorized ofliclrs Ihiz 15th dey of December lg 94. O INSURANCE COMPANY OF THE WEST STATE OF CALIFORNIA COUNTY OF SAN DIEGO On ~is December 15th, 1994 before me personally appeared John L. Hannum. Senior VIce President of INSURANCE COMPANY OF THE WEST, personally I~own lo me ~ ~ ~ ~dw~uil and othMr who executed ~e w~hin ·strum·at. and acknowledged WITNESS my hind mr~l official #el. NOTARYP~iA SAN ~EC, O COUNTY MYCOtGUS~ON EX·RES CERTIFICATE: I, E. Ha·ad Davis, Vice P;esident of INSURANCE COMPANY OF THE WEST, do hereby certify that the m'iginal POWER OF ATTORNEY. ~f which the fMegoing il · ~ ~opy, ~l atilt in lull force and effect. I~d thlt this co~ficats may he sigr~d by la~imila under the aumority If the above quoted recolutico. IN W~ITNE,SS.W_HEREOF. I have I/l~)s.~sc_~cribed my name es Vice President. on this /~ ~ day el O INSURANDE/TMPANY OF THE WEST ICW 37