2022-02-23 WS & CC Packet - Laserfiche WebLink

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MAINTENANCE BOND Bond No. 107651700 S.R. Weidema, Inc. KNOW BY ALL THESE PRESENTS, that we, 17600113th Avenue North, Maple Grove, MN 55369 (hereinafter called the "Principal"), as Principal, and Travelers Casualty and Surety Company of America a Connecticut-_ Corporation One Tower Square, Hartford, CT 06183 (hereinafter called the "Surety"), as Surety, are held and firmly bound unto the City of Centerville (hereinafter called the "obligee"), as Obligee in the amount of _ Two Hundred Eighty-four Thousand Six Hundred Seventy-two And 52/100 ( $284,672.52 ) for the payment of which are well and truly to be made, we, the said Principal, and the said Surety, bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. Sealed with our seals and dated this 7th day of February__, 2022 WHEREAS, the said Principal has heretofore entered into a contract with. Elmcrest Villas, LLC for Old Mill Estates Streets and Utilities and, WHEREAS, the said Principal is required to guarantee to the City of Centerville said contract against possible future repairs or replacement costs because of defaults in materials or workmanship which may develop during the period of two years(s) from the date of acceptance of said work under said contract. This bond shall be effective from September 29, 2021 to September 29, 2023 - NOW, THEREFORE, if the Principal shall repair any defects in said work occasioned by and resulting from defects in materials furnished by, or workmanship of, the Principal in the performing of the work covered by said contract, occurring within a period of two years after date of acceptance of said work by the Obligee, then this obligation shall be null and void, otherwise to remain in full force and effect. S.R. Weidema, Inc. Travelers Casualty and Surety Company of America By�shua R. Lo , Attor -in-Fact