(Submitted on letterhead of Surety Company with executed power-of-attorney form attached.)
Bond No. & Rating:
Project Name and Section:
KNOW ALL MEN BY THESE PRESENTS: That We, the undersigned: (Developer and Contractor or Developer, only) (Street Address) (City, State, Zip), as principal and (Surety Name and Address), as Surety, are held and firmly bound unto the Town of Fortville, Indiana, in the penal sum of (amount) dollars ($ dollar amount), in lawful current money of the United States, for which payment will and truly be made, we bind ourselves, our heirs, successors, executors, and assigns in solido, by these presents.
Dated and signed at , Indiana this day of , 20 .
THE CONDITIONS of this obligation are such that:
WHEREAS, the Principal has entered into an Agreement (attached) with the Obligee for the maintenance of the following physical improvements:
Asphalt - Intermediate Course Asphalt Surface Course
Curbs Erosion Control
Final Grading & Lawn Preparation Lot Drainage
Survey Monumentation Multi-Use Paths
Sanitary Sewer Sidewalks
Storm Drainage Street Base (stone, asphalt, etc.)
Street Lights Street Signs
Water System
as required by the Fortville Town Code in accordance with all the provisions of the ordinances, rules, and regulations of the Town of Fortville, Indiana; and
WHEREAS, the above named principal did on the day of , 20 , enter into a certain Agreement (attached) with the Town of Fortville to maintain for a period of 36 months from , 20 ,the improvements in (Name/Section) Subdivision, and keep all items indicated above constructed by him in good condition, and shall make such repairs to any defects in materials or workmanship as may develop or be discovered when called upon to do so by the Town of Fortville.
NOW THEREFORE, if the aforesaid Principal shall well and truly and faithfully perform said contract and comply with all its terms, covenants, and conditions, according to its tenor and discharge all of said principal's obligations hereunder and shall fully pay and discharge all of said principal's obligations to the Town of Fortville, Indiana, then this obligation shall be null and void; otherwise to be and remain in full force, effect, and virtue.
IN TESTIMONY WHEREOF, we have set our hands, in the presence of the two undersigned competent witnesses this day, month and year above written.
By: By: Company Name (Principal) Surety Company
Signature Signature of Attorney-in-Fact
Type/Print Signatory’s Name and Title Type/Print Attorney-in-Fact
Subscribed and sworn before me, a Notary Public, in and for said County and State, this day of , 20 .
Notary Public
County of Residence
Commission Expiration
Attached: Executed Maintenance Bond
Executed Performance Bond Agreement
(Ord. 2020-1D, passed 1-6-20)