Riverview Estates-CS 970331TEXAS STATUTORY PERFORMANCE BOND (PRIVATE WORKS)
BOND NO. 1061301
KNOW ALL MEN BY THESE PRESENTS:
THAT, Quantum Contracting, Inc., S00 Turtle Cove Blvd., Suite 215, Box 397, Rockwall, TX 75087, as
Principal, hereinafter called Contractor, and the Old Republic Surety Company, a corporation organized and
existing under the laws of the State of Wisconsin, licensed to do business in the State of Texas and admitted to write
bonds in the State of Texas, with its principal office in the City of Brookfield, as Surety, hereinafter called Surety,
are held and fumly bound unto Austin Catbird, L.P., 8222 Douglas Avenue, Suite 660, Dallas, TX 75225,
(hereinafter called the Owner), in the amount of Three Hundred Fifty Seven Thousand Two Hundred Thirty Two &
31/100--- Dollars ($357,232.3 l) for the payment whereof Conlractor and Surety bind themselves, their heirs,
executors, administrators, successors, and assigns, jointly and severally,fmnly by these presents.
WHEREAS, Contractor has by written agreement dated the 26th day of March, 19 97 for Installation of water,
sanitary sewer and storm sewer facilities for Riverview Estates, Coppell, Texas, 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, 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.
The Surety hereby waives notice of any duly authorized normal and usual alteration to the Contract 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 obligations thereunder, the Surety may promptly remedy the default, or may
;
(1) Complete the CONTRACT in accordance with its 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, arrange for a contract between such bidder and Owner,
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 qosts and damages for which the Surety
may be liable hereunder, the amount set forth in the fu~t paragraph hereof. The term "balance of the contract price"
as used in this paragraph, shall mean the total amount payable by Owner to Conlractor under the Contract and any
Amendments thereto, less the amount properly paid by Owner and Contractor.
Any suit under this bond must be instituted before the expiration of twenty-five (25) months from the date on which
the right of action accrues.
No right of action shall accrue on this bond to or for the use of any person or corporatioh.other, than the Owner
named herein or the heirs, executors, administrators or successors of the Owner.
Signed and sealed this 31st day of March, 1997.
PRINCIPAL: Quantum Contracting._ Inc.
SURETY: Old Republic ~
Cindy Fowler ,' - Attorney-In-Fact (Seal)
TEXAS STATUTORY PAYMENT BOND (PROPERTY CODE - PRIVATE WORKS)
BOND NO. 1061301
KNOW ALL MEN BY THESE PRESENTS:
THAT, Quantum Contracting, Inc., $00 Turtle Cove Blvd., Suite 215, Box 397, Rockwali, TX 75087, Original
Contractor (hereinafter called the Principal), as principal and ,Old Republic Surety Company a corporation
organized and existing under the laws of the State of Wisconsin Hcensed to do business in the State of Texas and
admitted to write bonds, as Surety, with its principal office in the City of Brookfield (hereinafter called the Surety),
are held and firmly bound unto Austin Catbird, L.P., 8222 Douglas Avenue, Suite 660, Dallas, TX 75225,
(hereinafter called the Owner), in the amount of Three Hundred Fifb, Seven Thousand Two Hundred Thirty Two &
31/100--- Dollars ($357,232.3 l) for the payment whereof the said Principal and Surety bind themselves and their
heirs, administrators, executors, successors and assigns, jointly and severally, fu-mly by these presents.
WHEREAS, the Principal has entered into a certain.~vritten contract with the Owner, dated the 26th day of March,
19 97, for Installation of water, sanitary sewer and storm sewer facilities for Kiverview Estates, Coppell, Texas,
which contract is hereby referred to and made a part hereof as fully and to the same extent as if copied at length
herein:
Now, Therefore, the condition of this obligation is such that, if the said Principal shall promp, tly pay claimants for
all labor, subcontracts, materials and specially fabricated materials performed or furnished under or by virtue of said
contract and duly authorized normal and usual extr~ thereto (not to exceed 15% of said contract price), then this
obligation shall be null and void, otherwise to remain in full force and effect; labor, subcon~acts,' materials and
specially fabricated materials shall be construed in accordance with Sec. 53.001 of the Texas ProperW Code;
Provided, However, that the Owuer having required the said Principal to furnish this bond in order to comply with
the provisions of Sections 53.201 et seq. of the Texas Property Code, all rights and remedies under this bond shall
inure solely to such claimants and shall be determined in accordance with the provisions, conditions and limitations
of said Property Code to the same extent as if they were copied at length herein.
In Witness Whereof, the said Principal and Surety have signed and sealed this insmunent this 31 st day of March,
1997.
PRINCIPAL: Quantum Contractine. Inc.
BY;
SURETY: 01~ Re_~~mpany
Cindy Fowmr Attorney-In-Fact (Seal)
'_.a'0_:~;_~o-l~Q~qt~ _g,..: ~..~._~U ~-:~~~...d;:.~..E.:~~,~--:~o.r~~'~t~o ;the~sept_e_sen_ts, are
;ih:-e.~tcl'j-o, as~_, ;]~_' ~'id ¢_~:_T~eb.-_aif_-' ~ ~~hy ~_~.-.edOt~.'~4::i~_"li~ a~x:'.!li~ ~:~_"f:'_.lh_e-' b~_r'.~ny'-to- bonds, undertakings,
%(eCb~z~S¢~~:9~~-~~a~d:~~~r~ ~.~~n-:fact 0r agent-and revoke
-.any/ow~ ¢ ~tt~:~'l~uS'ty~d~~, ¢-:~ ~ >¢~.~:_~¢~ .::; :'TM....... ' -~ ............ ' ' ~ -
............................ ~... f~ ~z~'.Z~-:~'¢ c-= ::' - '= _ - -- - -
=~e~at~o~her~-~~th~xe~ti~i.~~~o~d~8~~z~ce, ~r ~t~,S~~tions 0['~e'c~y;a~ s~h
.'~Fgo a~_re and ~eal'
and ............................................. e~ecuted the
' _ 277 :. ' Z=z':: . ~:* ~; f~7_._~c;%' ' %;~<-¢1-:==: :.- ~;¢:~-%; tLC? ~. T¢:.-~¥~.'~-~z~=-~<:.-..., . ~¢~z- - ~- ;;:. ~4'~ 2'E ": - ~ _ ~----_--e_~_~
of d~e~p set ~:~~-~.A~~~j~.,,.t¢;~~; .*~:~..'~' ~;~~;'_'~,.% -._. '-. _:;;'?-:'.'_ _ ". ~: ','.
. . ~ ~. =: ::~~:~ .' .... ~__= ..... ~:.-~-z' ' -~ ~ ~ ~'=~, -~--! ~ ~ ~ ~ ~ ~;:<~'~'%:f:" A~ r~a~: :-.-- - :
THIS DOCUMENT IS NOT VALID UNLESS PRINTED ON COLORED BACKGROUND AND IS MULTI-COLORED
OR$C ~22~2:(1 '-93) .............. -.--:: :: ..... ::: ......,, ::r-, ' ......... ~:'~ ................. '-" ' ' "~i' ' ' ........ ' ........ ~, -,- ' ........... -: -"-':
IMPORTANT NOTICE
TO OBTAIN INFORMATION OR TO MAKE A COMPLAINT
You may contact the Texaz Department of Insurance to obtain information on companies.
coverages, rights or complaints at
1-800-252-3439
You may write the Texas Department of Insurance:
;
P.O. Box 149104
Austin, Texa~ 78714-9104
FAX No. (512) 475-1771 ..
PREMIUM OR CLAIM DISPUTES
Should you have a disput~ concerning your prcmim or about a claim, you should contact
the company f'trst. If the dispute is not resolved, you may contact the Texas Department of
Insurance.
ATTACH THIS NOTICE TO YOUR POLICY
This notice is for information only and does not become a part or condition of the attached
document.