Freeport NIP(1)-CS 851223 (2) MAINTENANCE BOND
KNOW ALL MEN BY THESE PRESENTS:
THAT SECURE RESOURCES, INC. , AS PRINCIPAL, AND
ROYAL INDEMNITY COMPANY , A CORPORATION organized under the laws
of Delaware , as SURETIES, do hereby
expressly acknowledge themselves to be held and bound to pay unto the
City of Coppell , the sum of
TWO MILLION FIVE HUNDRED THOUSAND AND N0/100 Dollars ($2,500,000.00)
for the payment of which sum will and truly be made unto said City of
Coppell , and its successors, said PRINCIPAL AND SURETIES do
hereby bind themselves, their assigns and successors jointly and
severally.
THIS obligation is conditioned, however, that, whereas said SECURE
RESOURCES, INC. did, on the day of
enter into a written contract with the said City of Coppell
to build and construct the
WATER, SANITARY, SEWERS AND STORM SEWERS INCLUDING THE BRIDGE AT
FREEPORT NORTH BUSINESS PARK
in the City of Coppell , which contract and the Plans
and Specifications therein mentioned adopted by the City of Coppell
are hereby expressly made a part hereof as though the same were written
and embodied herein.
WHEREAS, under the Plans and Specifications, and contract, it is
provided that the CONTRACTOR will maintain and keep in good repair the
work herein contracted to be done and performed for a period of one (1)
year from the date of acceptance, and to do all necessary backfilling
that may arise on account of sunken conditions in ditches, or other-
wise, out of or arising from the improper doing of the same, or on
account of any breaking of the same, or on account of any defect arising
in any of said parts of said work laid or constructed by the said
CONTRACTOR, or on account of any defect arising in any of said parts
laid or constructed by said CONTRACTOR, or on account of improper
excavation or backfilling; it being understood that the purpose of this
section is to cover all defective material, work, or labor performed by
said CONTRACTOR; and in case the said CONTRACTOR shall fail to do so, it
is agreed that the CITY may do said work and supply such materials, and
charge to same against the said CONTRACTOR, AND SURETIES, on this
obligation, and said CONTRACTOR AND SURETIES shall be subject to the
liquidated damages mentioned in said contract for each day's failure on
its part to comply with the terms of the said provision of said
contract.
NOW THEREFORE, if the said CONTRACTOR shall keep and perform its said
agreement to maintain said work and keep the same in repair for the said
maintenance period of one (1) year, as provided, then these presents
shall be null and void, and have no further effect, but if default shall
be made by the said CONTRACTOR in the performance of its contract to so
maintain and repair said work, then these presents shall have full force
and effect, and said CITY OF Coppell shall have and recover from said
CONTRACTOR and its SURETIES, damages in the premises, as provided, and
it is further agreed that this obligation shall be a continuing one
against the PRINCIPAL and SURETIES, hereon, and that successive
recoveries may be had thereon for successive breaches until the full
amount shall have been exhausted; and it is further understood that the
obligation herein to maintain said work shall continue throughout said
maintenance period, and the same shall not be changed, diminished, or in
any manner affected from any cause during said time.
IN WITNESS WHEREOF, the said SECURE RESOURCES, INC.
caused these presents to be executed by them;
and the said ROYAL INDEMNITY COMPANY has caused these presents
to be executed by its ATTORNEY-IN-FACT WALTER P. KING
and the said ATTORNEY-IN-FACT WALTER P. KING has
hereunto set his hand this the 23rd day of December , 19 85.
SURETY: PRINCIPAL:
ROYAL INDEMNITY COMPANY SECURE RESOURCES, INC.
Walter P. King, At~6rney-in-Fact (Please Print)
Signature: i'~i. ~~
Page 2 of 2 Title:
(Please Print)
MAINTENANCE.1
ower of Anorne
, a Corporation organized and existing under and by ~,irtue of the
laws o~ ~e State of D~W~ , pursuant to Article V, Set,on I of ~e ~y-
Laws of s~d Company, ~ extract from which is hereunto attached, does hereby nominate, cons~mte
and appoint
of DALIJLS , in the State of '.L']~
its true and lawful attorney(s)-in-fact to make, execute, attest, seal and deliver for and on its behalf, as
surety, and as its act and deed, where required, any and all bonds, undertakings, recognizances and
written obiiga,lons in the nature thereof, the penal sum of no one of which is in any event, to exceed
--UNLIMITED .................................. T~' ......... '% Dollars.
Suck bonds and undertakings, when duly executed by the aforesaid Attornev(s)-in-fact shall be
binding upon the said Company as fully and to the same extent as if such bonds'and undertakings were
signed by the President and Secretary of the Company and sealed with its corporate seal.
IN WITNESS WHEREOF, ~he ~{OYAL IND~'~NITY COMPANY
haSauthorizedcausedofficersits co~o~tethis 2.seal tOdaybeofhereuntOAprzlaffiled, and tl~ese pre. an ts to be signed, 19bgdts duly
Attest:Eleanor Christiansen ny G.J. DYKHOUSE
Assistant Secretary Vice President
STATE OF NEY YORK '~
COUNTY OF NEW YORKJ~ss':
L-~leanor Ghrtstiansen , being duly sworn, deposes and says:
That he is an Assistant Secretary of the ROYkL ZNDEI~ITY COMPanY
thecorpovatlon described in and which executed the aboveinstmment; that he knows the corporate
seal of the said corporation; that the seal affixed to the aforementioned instrument is the corporate seal
of the said Company and was affixed thereto by order and authority of the Board ~f Directors of the said
Compnny, tat ~0~ name thereto by like order and authority.', that he is acquainted with
G. . and knows him to be the Vice President of the said
Company; that the sim,lure subscribed to the said instrument is in the handwriting of the said
G. J' DYKI=IOUSE and ~as subscribed thereto by order and authority of
the slid Board of Directors and he further states that the following is a true copy of an extract from
the By-Laws of said Company, and that the By-Laws are now in full force and effect:
"'I'ne Pre.ideal. an~, Vice President, ct an~ other Officer designated by the Board of Directors, shall h'~-e power .od
mathori~ to &ppoint Re,,idenr Vice Presidents, Resident Secretaries, Resident Assistant Secretaries, and Attorneys-ln-lacr,
nnd to gi~e such appointees Emil power sad au~otity to sign and to seat ~t:'~, the Company's seal, where required, all policies,
bends, reco~nlzances, ~tipulations and all under,s, riting undertakings, and he'may at any time in his judgment remove any such
&ppoiatees and revoke any nutborit7 &ivan to them.'
ELEANOR CHRISTIANS~I~
,4ssislanl Secretary
Sworn to before me this '~ day of A~r~l , 19 80
Anne Leykums Notax'T Publics State o£ ~ew York
No. ~1-2351725, ~ualified in Gueens County
Certificate filed wi%h N.Y. Co. Clerk
Commission, Expires March 30, 1981.
STATE O F NEW YORK
COUNTY OF NEW YORKass':
I, Sophie Calcagnile
Secretary of the H. OyM=L .Lnctemnxty Compaily , Assistant
a corporation of the State of Delaware , do hereby certify, that the above and foregoing
is a full, true and correct copy of Power of Attorney issued by said Company, and that I have compared
s~me with the original and that it is a correct transcript therefrom and of the whole of the original and
that the said Power of Attorney is still in full force and effect and has not been revoked.
IN WITNESS WHERE~OF, 1 have her~"~nto set my hand and affixed the se.g_al of said Companv,.~t the
Civ/ of New York, this ,~-'J:~day of ,A'<~ e'~:'~""-Z~' ~-' , 19 2~'. q /, ~/
CF66683