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Gibbs Station 1-CS 921209Bond No. BNS135 46 68 Am~ount: $27,470.00 KNOW ALLMEN BE THESE PRESENTS, That we, L.H. LACY COMPANY · as ~rincipal, and Firemen's Tnm,,ran~, Comnanv of N,wark. N,w .T,r~,v , a corporation duly organized under the-lags of the State of' N~w .T.~,y and duly licensed to ~ranmact business in the sta~e of Texas (Bereinafter called the Surety), as Surety, are held and firmly bound unto the City of Coppell, Texas (hereinafter called the Obligee) in ~e S%L~ of Twenty Seven Thousand1 Four Hundred Seventy & 00/100 .... Dollars for the payment of which sum well and truly to be made, we, the said Principal and the said Surety, hind ourselves, our heirs, executors, adminlstra~ors, successors and assigns, Jointly and severally, formally by these presents. sealed wi~ our seals and dated this 9th day of 1992 December , W~SR~S, ~he said Wrincipal has ~eretofore entered into a contract with Gibbs Station. Ltd. , dated 8/17/92 , for Pavin~ Improvements Gibbs Station, Phase I and, NOW, TPLE~FOI~B, ~e condition of this oDligation is such that if said Principal shall faithfully carry out and perform the said guarantee, and shall, or due notice, repair and make good at its own expense any defects which are r~le result of faulty workmanship and materials in said contract which may develop during the period of P/l~, or shall pay over, make goo~ and reimburse to the said Obligee all loss and damage which said Obligee may.sustain by reason of failure or default of said Principal to do so, then this obligation shall be null and void; otherwise shall remain in full ~orce and efrect. L. H. LACY COMPANY Pzinc~al · J , Firemen s Insurance Company of Newark, New Jersey surety Barbara Holmes Attorney-in-Fact Firemen' ' ', su_rance Company ot Nr-varK, New Jersey 180/ ..den Lane, New York, New Y'orr 0038 GENERAL POWER OF AI-I'ORNEY Know aJJ men by these Pre~ents, That the FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW IERSEY has made, constituted and appointed, and by these presents does make, constitute and appoint Barbara Holmes of Houston, TeXas ~ts true and [awiu[ attorney, for it and in its name, place, and stead to execute on behalf of the said Company, as surety, bonds, undertakings and contracts of suretyship to be given to All Obligees provided that no bond or undertaking or contract of suretyship executed under this authority shall exceed in amount the sum of Five Million ($5,000,000.) Dollars. This Power of Attorney is granted and is signed and sealed by facsimile under and by the authority of the following Resolution adopted by the Board of Directors of the FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY at a meeting duly called and held on the 20th day of February, 1975: In Wil~ess Whereof, the FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY has caused its off'~al seal to be hereunto affixed, and these presents to be signed by one of its Vice Presidents and attested by one of its Assistant Vke Presidents this 1st (Jay o~ May, 1985. FIREA4EN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY Attest: By STATE OF NEW YORK ~. COUNI'~ OF NEW YORK On this 1st day of May, 1985, before me personally came Michael J. Beernaert, to me known, who being by me duly sworn, did depose and say that he is a Vice President of the FIREMEN'$ INSURANCE COMPANY OF NEWARK, NEW JERSEY, the corporation described in and which executed the above instrument; that he knows the seal of the said coq)oration; that the seal affixed to the said instrument is such corporate seal; that it was so affixed by order of the Board of Directors of said corporation and that he signed his name th~eto by like order. CERTIFICATE ETHEL TARA,NTO NO. 24.4a~111 ? Ouat. in Klre~ Coo,~, I, the undersigned, an Assistant Vice President of the FIREMEN'S INSURANCE COMPANY OF NEWARK, NEW JERSEY, a New Jersey corporation, DO HERESY CERTIFY that the foregoin$ and attached Power of Attorney remains in full fo"ce and has not been revoked; and furthermore that the Resolution of the Board of Directors, set fo~h in the said Power of Attorney, is now in force. dayof Decemb'et~9 92 Signed and sealed at the City of New York, in the Stateof New Y°rk' Dated the~ ~~.~,.~,A,~v~ '9th :~. ~"~'" Printed in U.S.A. 21 BONE) 4315K CONTRACT DOCU~4~-NTS PAVING LMI~RO 9'w. ~(R-NTS CIT~ OF COPPw-T.?., D~?.T.~ COUBTx, T~.XAS GIBBS STATION, LTD. C/0 WR.A_TH & KNI~T PROPERTIES 16660 D~T.T.~ PARKW~X SUITE 1400 D~T.T.A~ ~, T~AS 75248 (214) 248-9190 ENGINEER: DAN M. DOWDEX & ASSOCIATES C~vir. ENGINEERS 16250 D~T.Tm, S PARA'WAX SUITE 100 D~T.T.]~. ~ 75248 (214)931-0694 1992, by and between Gibbs Station, Ltd. (hereinafter called Owner) and L.H. Lacv Company (hereinafter called the Contractor). Owner and Contractor, in consideration of the mutual covenants hereinafter set forth, agree as follows: A~-ticle 1. Work: Contractor shall complete all Work as specified or indicated in the Contract Documents. The work is generally described as follows: Street and Alley Pavinq_ Construction for Gibbs Station, Phase 1 reflected in the construction plans entitled "Construction Plans for Gibbs Station, Phase 1 , City of Coppell , Dallas , County, Texas", and prepared by Dan ~. Dowdey & Associates; and supporting plans and documents as described herein. The project for which the Work under the Contract Documents may be the whole or only a part is generally described as Gibbs Station Phase 1 Article 2. Engineer:. The Project has been designed by Dan M. Dowdey & Associates, 16250 Dallas Parkway, Suite 100, Dallas, Texas 75248, (214)931-0694 (hereinafter call the Engineer) and who will assume all duties and responsibilities and will have the rights and authority assigned to Engineer in the Contract Documents in connection with completion of the Work in accordance with the Contract Documents. Article 3: 3.1 Contract Time Completion: The work will be substantially completed on or before ~ (30) working days following Contractor's receipt of written Notice to Proceed, and completed and ready for final payment in accordance with the General Conditions on or before December 31 , 1992, ass,?~ng issuance of a Notice to Proceed by November 11 , 1992. 2 ~ctor recognize that time ~---~e Of-thi_s_Agr. eem_e_nt~ and that the Owner will ~cial loss if the~ _W_or_k is not substantially ~he time specified in Paragraph 3.1 a3oove plus any extensions thereof allowed in accordance with Article 12 of the General Conditions. They also recognize the delays, expense, and difficulties involved in proving in a legal or arbitration proceeding the actual loss suffered by Owner if the Work is not substantially complete on time. Accordingly, instead of requiring any such proof, Owner and Contractor agree that as liquidated damages for delay (but not as a penalty) Contractor shall pay Owner Five Hundred Dollars ($500.00) for each day that expires after the time specified in Paragraph 3.1 for substantial completion until the Work is substantially complete. Article 4: Contract Price Owner shall pay Contractor for performance of the work in accordance with the Contract Documents in current funds as follows: Two Hundred Seventy Seven Thousand Three Hundred Ninety Nine and 70/100---Dollars ($277,399.70}. Article 5: Payment Procedures Contractor shall submit application for payment in accordance with Article 14 of the General Conditions. Applications for payment will be processed by Engineer as provided in the General Conditions. 5.1 Progress Payments: Owner shall make progress payments on account of the Contract price on the basis of Contractor's applications for payment as recommended by Engineer and approved by Owner, on or about the Friday following the 10th of each month during construction as provided below. All progress payments will be on the basis of the progress of the work measured by the schedule of values provided for in paragraph 14.1 of the General Conditions. 5.la Prior to substantial completion, progress payments will be made in the amount equal to 90% of the Work completed only. Contractors request for payment shall be as of the 25th day and shall be submitted to the Engineer no later than the last day of each month. 5.lb Upon substantial completion, Owner shall pay (within 30 days of receipt of Engineers recommendation for payment) ~ease total payments to ~9.0%~-of~ the* contract price, less such /~as~'Engineer and Owner shall determine in / accordance with Paragraph 14.13 of the General :.~'~ ..--- Conditions. 5.2 Final Payment: Upon final completion and acceptance by the Engineer, Owner and reviewing agency of- the Work in accordance with Paragraph 14.13 of the General Conditions, Owner shall pay the remainder of the contract price as recommended by the Engineer and Owner as provided in said Paragraph 14.13. Article 6: Contractor's Representation In order to induce Owner to enter into the Agreement, Contractor makes the following representations: 6.1 6.2 6.3 Contractor has familiarized themselves with the nature and extent of the Contract Documents, Work, locality, and with all local conditions and federal, state, and local laws, ordinances, rules, and regulations that in any manner may affect cost, progress, or performance of the Work. Contractor has studied carefully all reports of investigations and tests of subsurface and latent physical conditions at the site or otherwise affecting cost, progress, or performance of the Work which were relied upon by the Engineer in the preparation of the Drawing and Specifications and which have been identified in the Supplementary conditions. Contractor has made or caused to be made examinations, investigations, and tests and studies of such reports and related data in addition to those referred to in Paragraph 6.2 as he deems necessary for the performance of the Work at the Contract price, within the Contract Time, and in accordance with the other terms and conditions of the Contract Documents; and no other additional examinations, investigations, tests, reports, or other similar data are or will be required by Contractor for such purposes. 6.4 Contractor has correlated the results of all such observations, examinations, errors, or discrepancies that he has discovered in the Contract Documents and the w~itten resolution thereof by Owner is acceptable to Contractor. 6.5 Contractor has given Engineer and Owner written notice of all 4 -~~~discrepanci~s that he has discovered in ~~nts and ~he Written resolution thereof by ~-_able to Contractor. ~hecon.tra~or and any right to remove removable ~': ~L !!~ !~improvements"are subordinate to the Mortgage and Lender's ~n2::~rights and all subcontracts and purchase orders shall contain a provision subordinating the subcontractors' and materialmen's liens and right to remove removable improvements to the Mortgage and Lender's rights thereunder. No change order shall be effective without the prior written approval of the Lender except for permitted scope changes. Article 7: Contract Documents The Contract Documents which comprise the entire agreement between the Owner and Contractor are attached to this Agreement, made part hereof, and consist of the following: 7.1 This agreement; 7.2 Invitation to Bid; 7.3 Contractor's Bid Proposal; 7.4 Insurance in amount reflected in attached certificates; 7.5 Amendments to General Conditions; 7.6 General Conditions; 7.7 Special Conditions and Technical specifications; 7.8 Drawings (sheets 1 thru 1'7 ); COVER LETTER 1 2-5 6-8 9 10-11 12 13-14 15-17 Final Plat Street Paving Alley Paving Drainge Area Map Storm Sewer Plans Water & Sanitary Sewer Sanitary Sewer Profiles Grading Plans 7.9 Any modifications, including Change Orders, duly delivered after execution of Agreement. There are no Contract documents other than those listed above in this Article 7. The Contract Documents may only be altered, amended, or repealed by modification (as defined in Section 1 of 5 ~C!~ b~!'.~~- ention.of the Owner and Contractor that this Agreement c°nStit6t~]~.Separated'Co'ntract as defined by Rule 3.291, Chapter 151 of the Texas Tax Code.. Such separation shall be as stated in the Contractor's Proposal which is made a part hereof. 8.1 Title to the materials used to perform the contract shall pass to the developer (who shall be the Owner) at the time they are delivered to the job site and before they are incorporated into the realty or used by either the Contractor or the developer. Payment for such materials shall be in accordance with this Agreement and any supporting documents included herein. 8.2 The developer intends to donate the property to the City of ..Dallas and the city intends to accept the property before the material is incorporated into the realty or used bY the Contractor or the developer. This prior intention is further evidenced by the Final Plat and Construction Plans as approved by the city. The Contractor shall therefore give a resale certificate for the materials and accept an exemption certificate for sales tax purposes which the developer shall provide. Any and all sales taxes or other taxes not covered by the exemption certificate shall be the responsibility of and shall be paid by the Contractor. _Article 9: Miscellaneo~ 9.1 Terms used in the Agreement which are defined in Article 1 of the General Conditions shall have the meanings indicated in the General Conditions. 9.2 No assignment by a party of hereto of any rights under or interests in the Contract Documents will be binding on another party hereto without the written consent of the party sought to be bound; and specifically but without limitation, moneys that may become due and moneys that are due may not be assigned without such consent (except to the extent that the effect of this restriction may be limited by law), and unless specifically stated to the contrary in any written consent to an assignment no assignment will release or discharge the assignor from any duty or responsibility under the Contract Documents. Not withstanding the foregoing, assignment of any or all rights and interests by Owner to Owner's development 6 *~ Contract°r.' ~' Contract0~ ~er~by any mechanic' s or materialman' s liens to Contractor each binds himself, his partners, successors, assigns, and legal representatives to the other party hereto, his partners, successors, assigns, and legal representatives in respect to all covenants, agreements, and obligations contained in the Contract Documents. Article 10: Other Provisions IN WITNESS WHEREOF, the parties hereto have signed this Agreement in triplicate. One counterpart each has been delivered to Owner, Contractor, and Engineer. All portions of the Contract Document have been signed or identified by Owner and Contractor or by Engineer on their behalf. This Agreement will be effective on ~~ , 1992. Owner: Gibbs Station, Ltd. 5539 Yale Blvd. Suite 100 Dallas, TX. 752 By: ~phen~J. Mastor, Exec. Vi'ce President, of Gibbs Station Financial, Inc., General Partner of Gibbs Station, Ltd. Contractor L.H. Lacy Company Address for giving Notices: Heath & Knight Properties, Inc. 16660 Dallas Pkwy. Suite 1400 Dallas, TX. 75248 (214)-248-9190 Attn: Samuel L. Wyse, III Address for giving Notices: L.H. Lacy Company 10880 Shady Trail P.O. Box 541297 Dallas, TX. 75354-1297 (214)357-0146 Attn: Russell Graeber 7 ITEM BID BID NO. DESCRIPTION QTY UNIT UNIT AMOUNT PAVING 6" 3000 PSI CONC STREET PVMT 10430 $Y $14.14 6"-4"-6" 3600 PSI CONC ALLEY 5380 SY $14.60 LIM~ SUBGRADE 17390 SY $2.45 SAW/REM. CONC CURB & GUTTER 460 LF $6.00 SAW/REM EXIST CONC. PAVING 315 SY $2.00 STANDARD STREET HEADER 28 LF $3.00 STANDARD STREET BARRICADE . 30 LF $20.00 18" CURB & GUTTER/BUTT JOINT 186 LF $12.00 SUBTOTAL 274,699.70 $147,480.20 $78,548 00 $42,605 50 $2,760 00 $630 00 $84 00 $600 00 $1,992 00 9 PAYMENT & PERFORMANCE BONDS 1 LS $2,700.00 $2,700.00 TOTAL 277,399.70 ,ro~ conditioned upon verlfl.atlon pro~ect financing being ~c%eptable to- H. Laky Company..~. ~ ~ ~ ~ 2.) This pr'oposal excludes the following items: - Seeding In].et tops ~ variable height curbs & gutters at inlets - Erosion control devices'such as haybales: silt fence, etc. - Sidewalks & handicap ramps - Treffio bu%tone & pavement zarkings 3.) The following items are for the purpose of gaining a tax exempt status for this project: - Owner must furnish Lacy an exemption certificate prior to Lacy mobilization. - The following clause must be included in the contracts: Title to the materials for the work hereunder will pass to the owner when delivered to the jcbsite and before they are incorporated into the realty or used by the owner or contractor. Owner intend~ to donate the property to the city and the city intends to accept the property before the materials are incorporated into the realty or used by the owner or the contractor, - The total amount bid shall be separated as follows: Total Materials ...... ~/7~ -- Total Other Charges $_ ~, 4.) This proposal is based on Lacy taking subgrade elevations at a +/- 0.20' tolerance. 5. )'\ Price given for 6" lime subgrade is based on an ~application rate of 275/sy. Lacy reserves the .. . right to increase ~he unit price given if the h' · '~ subgrade series indicates additional material is /~i<~ <' required, A rate of $ 70,O0/tn will be used to · .~i~i~ ~-.~ calculat~ the llme required in excess of 275/sy. ~-i~ ~ 6~) This proposal.· is based on Lacy being provided . ~%5r'~-"~<~ ~-a batch plant area on site. ,.-%~.._,:.:: _ ~. ~' ~:~71~,7:: ). Lacywill require .~ _ working days to complete ::;.,'J~'' ~:~:~'?-~7:-~{the items quoted. ~%quired for thic pro~eet .have_th~'following clause incorporated into %he~'bonds: "The Surety shall not be liable under this Bond to the Obiigees, or either of them~ unless the said Obligees, or either of them shall mak~ payments to the Principal strictly in accordance ~ith the terms of said Contract as payments, and shall perform all the other obligations to be performed under said Contract at the time, and in the manner thsrein set forth." If this clause cannot be incorporated into the bonds, add $ Z700. -- for dual obligee bonds. Duc to the uncertainty of the requirements of th~ National Pollutant Discharge Elimination System in reqard to the storm water runoff from construction projects (no guidelines are presently established by the E.P.A.), we bays not included any expense in this proposal for the necessary permits, structures, or other possible containment m~thods or devices. We will be happy to construct whatever is found to be required by this project's permit but it will be n~cessary to pass the expense the owner at our-cost with no profit markup. The owner also needs to be aware that a permit, if required, may delay the project 90 days longer.