Performance & Payment Bond
(Y
Bond No. 8007520
PERFORMANCE & PAYMENT BOND
KNOW ALL MEN BY THESE PRESENTS:
That,
ALONZO COTHRON, INC.
as Principal, hereinafter called
INSURANCE COMPANY
the laws of the State of
office in CINCINNATI
the Surety, are held and firmly bound
OF ~DNROE COUNTY, FLORIDA
as Obligee, hereinafter called the Obligee, in the just and full sum of
ONE HUNDRED THIRTY NINE THOUSAND SEVEN HUNDRED THIRTEEN AND NO/100--
Dollars, ( $139,713.00 ),
to the payment of which sum, well and truly to be made, the said Principal
and Surety bind themselves, their respective heirs, administrators,
executors, successors and assigns, jointly and severally, firmly by these
presents.
a
OHIO
the Principal, and AMERICAN DRUGGISTS'
corporation organized and existing under
with its principal
, as Surety, hereinafter called
unto BOARD OF COUNTY COMMISSIONERS
Whereas, the Principal has entered into a certain written contract
with ~he Obligee, dated the 16th day of March 19 82 for
Duck Key Brideg #1, Renovation & Upgrading
Now, Therefore, the condition of this obligation is such that, if the
Principal shall faithfully perform all of the obligations of the Principal
under the contract, and shall fully indemnify and save harmless the Obligee
from all cost and damage which the Obligee may suffer by reason of the
failure to the Principal so to do and shall fully reimburse and repay the
Obligee all reasonable outlays and expense which the Obligee may incur by
reason of such failure; and shall pay all persons who have contracts
directly with the Principal for labor or materials in the performance of
this contract, subject to the Obligee's priority, then this obligation
shall be null and void, otherwise it shall remain in full force and effect.
The foregoing obligation, however;is.limited-by-the following express
conditions, the performance of each of which shall be a condition precedent
to any right of claim or recovery hereunder.
1. In the event of any default on the part of the Principal, a
written statement of the particular facts showing the date and
nature of such default shall be given-bYHthe Obligee to the Surety
as promptly as possible after such default has become known to
the Obligee, and shall be forwarded by registered mail to the
Surety as its Home Office.
2. If the Principal shall fail to comply with the prOV~S1.ons of the
contract to such an extent that the contract shall be forfeited,
the Surety will have the right and opportunity to assume the
remainder of the contract and at its option to perform or sublet
the same.
3. No action, suit or proceeding shall be had or maintained against
the Surety on this instrument- unless the same be brought or
instituted and process served upon the Surety within twelve (12)
months after completion of the work specified in said contract,
whether such work be completed by the Principal, Surety or
Obligee; but if there is any maintenance or guarantee period
provided in the contract for -which said Surety is li~bile, and
action for maintenance may be brought within three (3) months
from the expiration of the maintenance period, but not afterwards.
Signed and sealed this
16th
day of
March
A.D. 19 82
ALONZO c'OTHRON, TNC,
(Seal)
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TITLE .
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(Seal)
~W~1t1'b00
FLORI RESIDENT AGENT
D. W. MATSON, JR.
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POWER OF A TIORNEY -
POWER NUMBER
THE AMERICAN DRUGGISTS' INSURANCE COMPANY
800 American Building . Cincinnati, Ohio 45202 . 513 - 721-4270
SP N~ 8007520
KNOW ALL MEN BY THESE PRESENTS THE AMERICAN DRUGGISTS' INSURANCE COMPANY, a corporation duly organized
under the laws of the State of Ohio, and having its general office in the city of Cincinnati, State of Ohio, has made, constituted and
appointed, and does by these presents, make, constitute and appoint
Thomas H. Fairfield, George M. Hock,
or Ronald L. Risdon
Minneapolis, Minnesota
of
its true and lawful Attorney-in-Fact with full power and authority hereby conferred to sign and deliver in its behalf as Surety, any and
all kinds of Surety Bonds, except as limited hereon, and to bind THE AMERICAN DRUGGISTS' INSURANCE COMPANY thereby as
fully and to the same extent as if such instruments were signed by the duly authorized officers of THE AMERICAN DRUGGISTS'
INSURANCE COMPANY and all the acts of said Attorney-in-Fact, pursuant to the authority hereby given, are hereby ratified and
confirmed, provided that the liability of the Company as surety on any such bond executed under this authority shall not exceed
Two Hu.ndred Fifty Thousand Dolla!'s
THIS POWER VOID IF ALTERED OR ERASED OR IF POWER NUMBER IS NOT IN BLUE INK.
(This power does not authorize the execution of bonds for loan, financial or bank guarantees.)
The acknowledgement and execution of any such document by said Attorney-in-Fact shall be as binding upon the Company as if such
bond had been executed and acknowledged by the regularly elected officers of this Company.
The signature of the President or a Vice President and the seal of the Company may be affixed by facsimile on any power of attorney
granted, and the signature of the Assistant Secretary and the seal of the Company may be affixed by facsimile to any certificate of any
such power and any such power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company. Any
such power so executed and sealed and certified by certificate so executed and sealed shall, with respect to any bond or undertaking to
which it is attached, continue to be valid and binding on the Company.
THE AMERICAN DRUGGISTS' INSURANCE COMPANY further certifies that the following is a true and exact copy of a resolution
of the Board of Directors of THE AMERICAN DRUGGISTS' INSURANCE COMPANY, duly adopted and now in force, to wit: All
Bonds of the' corporation shall be executed in the corporate name of the Company by the President, any Vice President, or by such
other officers as the Board of Directors may authorize. The President, any Vice President, or any Assistant Secretary may appoint
Attorneys-in-Fact or agents who shall have authority to issue bonds in the name of the Company.
All authority hereby conferred shall expire and terminate, without notice, unless used before midnight of
July
1
,19
82
, but until such time shall be irrevocable and in full force and effect.
ed by its officer, with its corporate seal affixed, this date of
IN WITNESS WHEREOF, the said THE AMERICAN DRUGGISTS' INSURANCE COMPANY has caused these presents to be execut-
March 16,
,19-82-.
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THE AMERICAN DRUGGISTS' INSURANCE COMPANY
STATE OF OHIO
COUNTY OF HAMILTON
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By
SS:
President
On this March 16. ,19 82 , before me, a Notary Public, personally appeared Gordon M. Barker who being by
me duly sworn, acknowledged that he signed the above Power-of-Attorney as an officer of the said THE AMERICAN DRUGGISTS'
INSURANCE COMPANY and acknowledged said instrument to be the voluntary act and deed of the corporation.
My commission expires: January 15, 1985.
If you have any questions concerning this power call 513-721-4270 for verification.
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Notary Public