HomeMy WebLinkAboutPerformance Bond 20-15 Wood, Sewer & Excavating Inc. RECEIVED I Li OO$'
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O C T 0 6 2020
BOND#NWI 1862
PERFORMANCE BOND CITY CLERK'S OFFICE RECEIVED
CITY OF OSHKOSH
SFP 2 3 211711
Contract Number 20-15 DEPT OF PUBLIC WORKS
OSHKOSH, WISCONSIN
Date Bond Executed(Date of Contract or Later) 09/16/2020
PRINCIPAL/CONTRACTOR(Legal Name and Business Address) Type of Organization
Wood Sewer& Excavating, Inc.
E9238 Cty Rd X _Individual Partnership
New London, WI 54961 X Corporation
State of Incorporation
Wisconsin
SURETY(IES)(Legal Name(s)and Business Address(es)) Penal Sum of Bond
Merchants National Bonding Company $305,487.50
6700 Westown Pkwy
West Des Moines, IA 50266
OWNER(Legal Name and Business Address)
CITY OF OSHKOSH
215 Church Avenue
PO Box 1130
Oshkosh,Wisconsin 54903-1130
OBLIGATION
The Contractor and Surety,jointly and severally,bind themselves,their heirs,executors, administrators,successors
and assigns to the Owner for payment of the sum shown above or the performance of the Contract identified
above,which is incorporated herein by reference.
This Bond shall cover any work performed during initial construction and any warranty period required by the
Contract.
If there is no Owner Default to pay the Contractor as required under the Contract for work performed or to
perform or complete any material term of the Contract, then the Surety(ies) obligation under this Bond shall arise
after:
1. The Owner provides notice to the Contractor and Surety that the Owner is considering declaring the
Contractor in default of the Contract. Within five (5) business days of the Owner's notice, either the
Contractor or the Surety may request a conference with the Owner to discuss such default and the
remedy therefor. If a conference is requested, the conference shall be scheduled to take place at
Owner's principal place of business or another agreed upon location within five (5) business days of
the request for conference. If the Owner, Contractor and Surety agree, the Contractor may be allowed
a reasonable time to perform the Contract, but such agreement shall not waive the Owner's right, if
any, to subsequently declare the Contractor in default;
2. The Owner declares the Contractor in default and notifies the Surety of the declaration of default;and
3. The Owner agrees to pay the balance of the Contract price in accordance with the terms of the Contract
to the Surety or to a qualified Contractor selected to perform the Contract.
Failure of the Owner to comply with the notice requirement specified above shall not release the Surety from its
obligations.
Upon notice from the Owner as provided above,the Surety shall promptly and at Surety's expense take one of the
following actions:
1. Arrange for the Contractor,with consent of the Owner, to perform and complete the Contract;
2. Undertake to perform and complete the Contract itself, through qualified agents or independent
contractors;
3. Obtain bids or negotiated proposals from qualified contractors acceptable to the Owner to enter into a
contract with the Owner for performance and completion of the Contract, to be secured with
performance and payment bonds, and to pay to the Owner as damages any amount in excess of the.
original contract amount for the completion of the Contract; any additional legal, design professional,
architect, or consultant fees resulting from any delay in the completion of the Contract; and any
applicable liquidated damages specified within the Contract resulting from any delay in the
completion of the Contract.
4. Make payment to the Owner, as soon as practicable after an amount is determined for completion of
the Contract;or
5. Deny liability in whole or in part and notify the Owner, citing with specificity the reasons for such
denial.
If the Surety does not proceed with reasonable promptness, Owner may give notice to the Surety and the Surety
shall be deemed in default on this Bond five (5) business days after notice by the Owner demanding the Surety
perform its obligations under this Bond. Owner shall be entitled to enforce any remedy available to Owner upon
default.
Except for default of the Surety and Surety's election to perform or complete the Contract itself under Paragraph 2
above,Surety's liability shall be limited to the amount of this Bond.
Notice to the Contractor or Surety shall be deemed to have been given: (i) upon delivery to an officer or person
entitled to such notice, if hand delivered; or(ii) two (2)business days following deposit in the United States mail,
postage prepaid; (iii) upon delivery by a commercial carrier that will certify the date and time of delivery; or (iv)
upon transmission if by facsimile, email or other form of electronic transmission. Notices shall be provided to the
Owner, Surety and/or Contractor at their address as specified on this Bond or to a facsimile, email or other
electronic address that has been provided in writing to the other party to be used for this purpose.
The laws of the State of Wisconsin shall-govern the interpretation and construction of this Bond. Winnebago 1
County shall be the venue for all disputes arising under this Bond. Any provision in this Bond that may conflict
with statutory or other legal requirement shall be deemed deleted herefrom and provisions conforming to the
. statutory or other legal requirement shall be deemed incorporated herein.
The above obligation is void if the Contractor performs and fulfills all the terms, conditions and agreements of the
Contract and any authorized modifications during the term of the original Contract and any extensions thereof.
Notice to the Surety is waived for any modifications agreed upon by Owner and Contractor.
Wood Sewer& Excavating, Inc. Merchants National Bonding Company
Name of Principal/Contractor Name of Surety
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