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Agmt05 BFI Waste Systems
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Agmt05 BFI Waste Systems
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Last modified
10/12/2006 8:37:35 AM
Creation date
9/7/2005 11:59:22 AM
Metadata
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Template:
Agreement
Contractor Name
BFI Waste Water Systems
PROJECT NAME
franchise collection services
RMP File Number
Ord 2280
Date
9/7/2005
Reso Ref
13844
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<br />~~~\: ~ <br /> <br /> <br /> <br /> <br /> <br />American .International Companies <br />70 I'ine Street <br />New York, NY 10270 <br /> <br />~ ~-~ ------ <br /> <br /> <br /> <br />PERFORMANCE BONO <br /> <br /> <br />Replaces Bond 929172889 Bond No. ..2aa4.a~._____._.....__ <br /> <br /> <br />KNOW ALL MEN BY THESE PRESENTS, That we, ,BF! \'Y.~ste Sys..~~!.!!.s of North America, Inc. <br />225..~or~!,_<!y_~oad, 9an Carlos, CA 94070 ______.__.~____.__~:::::.~= <br />as Principal, and the _The Insurance Comp~9t!!:L~ S.@!t:?...Qf...Eennj>,ylvania _______._. <br />G1_.__...._!:ly............_...corporatlon, as Surety, subject to the Conditions, Limitations and Exclusions of this <br />Performance Bond, are firmly bound unto ..f1L2f....B.t?.9.~g9..9._9!.!y.,J;:_'?!!.f9..r.n!.'!L_____._ <br />~..:._<2.:...~~l"~h._.Redwood. City, CA 94Q64_________~_________.-==:=====.._......-- <br />hereinafter referred to as the Obligee, for such monetary amount as incurred by the Obligee, notto-e-;ceed <br />the penal Slim of 3wo Million Two Hundred fifty Si~.Ib9J!~~!19J;?Qlt~rlulDd 00/100 ($ 2.256,OOMJL......._). <br />as may be required to remedy any contractual default by the Principal )n the performance of that cerlain <br />contract between Principal and Obligee dated ^___.Qctobe!:.J.,";~P_QL____"_ for .!?J?JlfU!\jast~L....._ m..... <br /> <br />hereinafter referred to as the Contract; for the payment hereof, we bind ourselves, our heirs, executors, <br />administrators and successors, jointly and severally. <br /> <br />CONDITIONS <br /> <br />The obligation of this Performance Bond shaH be null and void unless: (1) the above Contract is in writing, <br />and has been fully executed by both the Principal and the Obligee; (2) the Principal is actually in default <br />under the above Contract, and is dedared by the Obligee thereafter to be in default; (3) the Obligee has <br />performed all of the obligations of the Obligee under the above Contract; and (4) the Obligee has provided <br />written notice of the default to the Surety as promplly as possible, and in any event, within ten (10) days <br />after such default. <br /> <br />LIMITATIONS AND EXCLUSIONS <br /> <br />The Surety, as the sofe election and discretion of the Surety, may take any or the following actions: <br /> <br />(1) With notice to the Obligee, prOVide financial assistance to the Principal to remedy any <br />contractual default by the Principal; or, <br /> <br />(2) Undertake the completion of the above Contract by the Surety, through its agents or through <br />Independent contractors; or, <br /> <br />(3) Determine the amount for which the Surely may be liable to the Obngee, and as soon as a <br />practicable thereafter, tender payment thereof to the Obliqee; or, <br /> <br />(4) Pay the full amount of the above penal sum in complete discharge and exoneration of this <br />Performance Bond, and of allllabilitjes of the Surety relating thereto. <br /> <br />If the Surety so elects to act, al1 payments and expenditures by the Surety shall be applied against the <br />above penal sum and in reduction of the limit of Hability of the Surety. <br /> <br /> <br />IEeiliViD <br />NOV 2002 <br />
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