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HomeMy WebLinkAboutRP Development - Sorano Heights, Phase 1 (FP 2019-009).. IFIC 1----11• Snrct, GROUP SUBDIVISION IMPROVEMENTS PERFORMANCE BOND Bond No. SAIFSU0772469 Initial Prem ium$ 2.945.00 Subject to Renewal KNOW ALL MEN BY THESE PRESENTS: That we , RP Development , LLC as Principal, and International Fidelity Insurance Compan,v a corporation duly authorized under the laws of the State of New Jersey to become surety on bonds and undertakings, as Surety, are held and firmly bound unto City of Pasco ,as Obligee in the full and j ust sum of One Hundred Twenty Two Thousand Two Hundred Sixty Eight and 48 /100 Dollars, ($ 122,268.48 ) lawful money of the Un ited States of America , to be paid to the said Obligee, successors or assigns ; for wh ich payment , well and tru ly to be made, we bind ourselves, our hei rs , executors , successors , administrators and assigns , jointly and severally, firmly by these presents. THE CONDITION OF THE OBLIGATION IS SUCH THAT: Whereas, the Principal and Obligee have entered into an agreement whereby principal agrees to install and complete certain designated public improvements , which said agreement, dated October 4, 2019 and identified as project Sorano Heights , Phase 1 , is hereby referred to and made a part hereof; and Whereas, said Principal is required under the terms of sa id agreement to furnish a bo nd f or the fa ithful performance of said agreement. Now, Therefore, the condition of this obligation is such that if the above bounded Princ ipal, his or its heirs , executors , adm ini strators, successors or assigns , shall in all things stand to and abide by , and well and truly keep and perform the covenants , cond itions and provisions in the said agreement and any alteration thereof made as therein provided , on his or their part, to be kept and performed at the time and in the manner t here in specified, and in all respects according to their true intent and mean ing , and shall in demnify and save harmless the Obligee , its officers, agents and employees , as therein stipu lated , then this obligation shall become null a nd void ; otherwise it shall be and remain in full force and effect. As a part of the obligation secured hereby and in addition to the face amount specified therefor, the re shall be included costs and reasonable expenses and fees, including rea sonab le attorney's fees , incurred by Obligee in successfull y enforcing such obl igation , all to be taxed as costs and included in any judgment rende r ed. The surety hereby stipulates and agrees that no change, extension of time, a lteration or add ition to the terms of the agreement or to the work to be pe rformed thereunder or the specifications accompanying the same shall in anywise affect its obl igations on this bond , and it does hereby waive notice of any such change , extension of time, alteration or add ition to the terms of the agreement or to the work or to the specifications. IN WITNESS WHEREOF, the sea l and signature of sa id Principal is hereto affixed and the corporate seal and the name of the Surety is hereto affixed and attested by its du ly authorized Attorney-in-Fact th is 7th day of October , 20 _1_9 __ RP Development, LLC By: r,J~ z Principal International Fidel ity Insurance Company , '. POWER OF ATTORNEY HARCO NATIONAL INSURANCE COMPANY Bond# SAIFSU0772469 e INTERNATIONAL FIDELITY INSURANCE COMPANY Member companies of IAT Insurance Group, Headquartered: 702 Oberlin Road, Raleigh, North Carolina 27605 KNOW ALL MEN BY THESE PRESENTS: That HARCO NATIONAL INSURANCE COMPANY, a corporation organized and existing under the laws of the State of Illinois, and INTERNATIONAL FIDELITY INSURANCE COMPANY, a corporation organized and existing under the laws of the State of New Jersey, and having their principal offices located respectively in the cities of Rolling Meadows, Illinois and Newark, New Jersey, do hereby constitute and appoint KIRSTEN K. JORDAN, JACQUELINE F. HERNANDEZ, CINDY ANDREWS, NICHOLAS COX Yakima, WA their true and lawful attorney(s)-in-fact to execute , seal and deliver for and on its behalf as surety, any and all bonds and undertakings, contracts of indemnity and other writings obligatory in the nature thereof, which are or may be allowed , requ ired or permitted by law, statute , rule, regulation , contract or otherwise, and the execution of such instrument(s) in pursuance of these presents, shall be as binding upon the said HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY, as fu ll y and amply , to all intents and pu rposes , as if the sa me had been duly executed and acknowledged by their regularly elected officers at their principal offices . This Power of Attorney is executed , and may be revoked , pursuant to and by authority of the By-Laws of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY and is granted under and by authority of the following resolution adopted by the Boa rd of Directors of INTERNATIONAL FIDELITY INSURANCE COMPANY at a meeting duly held on the 13th day of December, 2018 and by the Board of Directors of HARCO NATIONAL INSURANCE COMPANY at a meeting held on the 13th day of December, 2018 . "RESOLVED, that (1) the Chief Executive Officer, President, Executive Vice President, Senior Vice President, Vice President, o r Secretary of the Corporation shall have the power to appoint, and to revoke the appointments of, Attorneys-in-Fact or agents with power and authority as defined or limited in their respective powers of attorney, and to execute on behalf of the Corporation and affix the Corporation 's seal thereto, bonds, undertakings , recognizances , contracts of indemnity and other written obligations in the nature thereof or related thereto ; and (2) any such Officers of the Corporation may appoint and revoke the appointments of joint-control custodians, agents for acceptance of process, and Attorneys-in-fact with authority to execute waivers and consents on behalf of the Corporation ; and (3) the signature of any such Officer of the Corporation and the Corporation 's seal may be affixed by facsimile to any power of attorney or certification given for the execution of any bond , undertaking , recognizance , contract of indemnity or other written obligation in the nature thereof or related thereto , such signature and seals when so used whether heretofore or hereafter, being hereby adopted by the Corporation as the original signature of such officer and the original seal of the Corporation , to be valid and binding upon the Corporati on w ith the same force and effect as though manually affixed ." IN WITNESS WHEREOF , HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY have each executed and attested these presents on this 31st day of December, 2018 STATE OF NEW JERSEY County of Essex STATE OF ILLINOIS County of Cook Kenneth Chapman Executive Vice President, Harco National Insurance Company and International Fidel ity Insurance Company On this 31st day of December, 2018 , before me came the individual who executed the preceding instrument, to me persona lly known, and , being by me duly sworn , said he is the therein described and authorized officer of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY; that the seals affixed to said instrument are the Corporate Seals of said Companies; that the said Corporate Seals and his signature were duly affixed by order of the Boards of Directors of sa id Compan ies . IN TESTIMONY WHEREOF, I have hereunto set my hand affixed my Official Seal , at the City of Newark, New Jersey the day and year first above written. CERTIFICATION Shi relle A. Outley a Notary Public of New Jersey My Commission Expires April 4, 2023 I, the undersigned officer of HARCO NATIONAL INSURANCE COMPANY and INTERNATIONAL FIDELITY INSURANCE COMPANY do hereby certify that I have compared the fo regoing copy of the Power of Attorney and affidavit, and the copy of the Sections of the By-Laws of said Companies as set forth in said Power of Attorney, with the originals on file in the home office of said companies , and that the same are correct transcripts thereof, and of the whole of the said originals, and that the said Power of Attorney has not been revoked and is now in full force and effect. IN TESTIMONY WHEREOF, I have hereunto set my hand on this day, October 7, 2019 ---A-0-11_0_7 --------------~--------------~ Irene Martins, Assistant Secretary