There are hereby established forms for a subdivision bond, a maintenance bond and a subdivider's contract, such forms to be used in all future subdivision developments of the city and to read as follows:
SUBDIVISION BOND
KNOW ALL MEN BY THESE PRESENTS:
That we as Principal, and as Surety, are held and firmly bound unto the City of Reading, Ohio, in the sum of dollars, lawful money of the United States, for the payment of which well and truly to be made, we bind ourselves, our heirs, executors, successors and assigns jointly and severally, firmly by these presents.
The condition of the foregoing obligation is such that:
WHEREAS, said Principal will make the following improvements: All public improvements and other work as set forth to be done and performed in accordance with the plans, specifications and provisions of the contract executed between said Principal and the City of Reading, Ohio, for the development and improvement in
, located in Reading, Ohio.
, located in Reading, Ohio.
NOW, THEREFORE, if the said Principal shall fully and faithfully perform all the work specified to be done and performed by the contract between the Principal of this Bond and the City of Reading, and within the time prescribed, and in accordance with the plans, specifications and provisions therefor, to which reference is here made, the same being a part hereof, as if fully incorporated herein, then this obligation shall be void; otherwise to remain in full force and effect in law; it being expressly understood and agreed that the liability of the surety for any or all claims hereunder shall in no event exceed the penal amount of this obligation, as herein stated.
The said surety hereby stipulates and agrees that no modifications, omissions or additions, in or to the terms of said contract, or in or to the plans or specifications therefor, or any extension of time, shall in any wise affect the obligations of said surety on its bond.
WITNESS OUR HANDS, this day of 19
Principal
Surety
MAINTENANCE BOND
CITY OF READING, OHIO
Bond No.
KNOW ALL MEN BY THESE PRESENTS:
That we, as Principal, and , a Corporation organized under the laws of the State of , and licensed to do business in the State of , as Surety, are held and firmly bound unto the City of Reading, Ohio, as Obligee in the penal sum of dollars ($ being ten percent of the original subdivision bond, for the payment of which well and truly to be made, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors and assigns, firmly by these presents.
SIGNED, SEALED AND DATED THIS day of 19 .
WHEREAS, the said Principal has heretofore entered into a contract with Obligee for and,
WHEREAS, the work called for under said contract has now been completed and accepted by said Obligee:
NOW THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, That if said Principal shall, for a period of two (2) years from and after indemnify the Obligee against any loss or damage directly arising by reason of any defect in the material or workmanship which may be discovered within the period aforesaid, then this obligation shall be voids otherwise to be and remain in full force and virtue in law.
PROVIDED, HOWEVER, that in the event of any default on the part of said Principal, a written statement of the particular facts showing such default and the date thereof shall be delivered to the Surety by registered mail, at its Home Office in the City of , promptly and in any event within ten (10) days after the Obligee or his representative shall learn of such default; and that no claim, suit, or action by reason of any default of the Principal shall be brought hereunder after the expiration of thirty (30) days from the end of the maintenance period as herein set forth.
Principal
(Seal)
Surety
(Seal)
SUBDIVIDERS CONTRACT
This contract executed on this day of , 19 , by and between City of Reading, Ohio, Subdivider, as evidenced by the Plat to be filed with the City Engineer/Building Commissioner of Reading, Ohio, is governed by the following conditions and considerations, to wit:
Said Subdivider shall not transfer any lot, parcel or tract therefrom or proceed with any construction work on the proposed subdivision, including grading, that may affect the arrangements of streets or other public improvements, until he, she or it has obtained approval of the plat from the Planning Commission of the City of Reading, and further until the plat of said subdivision has been recorded with the County Recorder of Hamilton County, Ohio.
And said Subdivider is to construct, install or otherwise make all public improvements shown on the Plat; and those shown and set forth to be done and performed by the engineering drawings and specifications marked as follows, all of which are a part of this contract:
NAME OF DRAWING DRAWING NUMBER
And said work shall include the construction of all items as listed on the attached Engineer's estimate in accordance with the aforementioned specifications.
Said Subdivider is to execute bond, which bond form is to be furnished by the City of Reading, equal to the cost of construction based on an estimate furnished or acceptable to the City Engineer/Building Commissioner and to the satisfaction of the Planning Commission to insure the faithful performance of this contract.
The Subdivider shall perform all work within one (1) year from the date of this Contract, but an extension may be granted if approved by the Planning Commission of Reading, Ohio.
The Subdivider shall guarantee all the work for a period of two (2) years from the date of written acceptance against defects resulting from the use of inferior materials, equipment or workmanship.
The Subdivider will be required during the life of the guarantee to make all repairs or changes in the guaranteed work, which in the opinion of the City Engineer, are necessary as the result of the use of materials, equipment or workmanship which is inferior, defective or not in accordance with the Standard Specifications for construction of the improvements.
The Subdivider shall, within a period of seven (7) working days after receipt of notice from the City Engineer and without expense to the City, proceed to remove and replace all unsatisfactory work with suitable materials and equipment.
Failure by the Subdivider to proceed with the terms of the guarantee shall be sufficient reason for the City to have the defects corrected, and the Subdivider and his Surety shall be liable for the expenses incurred by the corrections.
If in the opinion of the City Engineer an emergency arises that jeopardizes continuity of service or public health, welfare or safety, and the Subdivider is unable to remedy the situation at the time it exists, the City reserves the right to immediately take steps without any notice to have the situation remedied, and the Subdivider and his Surety shall be liable for all expenses incurred in making these repairs.
All special guarantees applicable to definite parts of work or equipment shall be subject to the terms of this section during the first year of such special guarantees.
Subdivider
WITNESSES:
Planning Commission
(`82 Code, § 1224.03) (Ord. 73-44, passed 5-1-73)