PCA - Demo of Vacant & Abandoned Houses, Phase IX Proj No. 116-074C - Indiana Earth Inc

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MAINTENANCE North American Specialty Insurance Company BOND 2217271 KNOWALL MEN BY THESE PRESENTS; That we, Indiana Earth. Inc. of Osceola. Indiana, (hereinafter called the "Principal'), as Principal, and North American Specialty Insurance Company, of Manchester. New Hampshire, as Surety, a New Hampshire corporation duly licensed to transact business in the State of Indiana (hereinafter called the "Surety"), as Surety, are held and firmly bound unto Citv of South Bend Board of Public Works (hereinafter called the "Obligee"), in the sum of Twenty -Five Thousand Eight Hundred Forty -Three and 29/100 --- Dollars ($ 25,843.29), for the payment of which sum 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 severalty, firmly by these presents. Sealed with our seals and dated this 13th date of December A.D. Two Thousand and Sixteen. WHEREAS, the said Principal has heretofore entered into a contract with said Obligee dated August 23, 2016 for Demolition of Vacant and Abandoned Houses Phase IX Divisions A & C. WHEREAS, the said Principal is required to guarantee the empty lots backfilled in compacted lifts for settlement and grass growth installed under said contract, against defects in materials or workmanship which may develop during the period beginning on the 18th day of November 2016, and ending on the 18th day of November, 2019. In no event shall losses paid under this bond aggregate more than the amount of this bond. NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that said Principal shall faithfully carry out and perform the said guarantee, and shall, on due notice, repair and make good at its own expense any and all defects in materials or workmanship in the said work which may develop during the period specified above or shall pay over, make good and reimburse to the said obligee all losses sustained by reason of failure or default of said Principal so to do, then this obligation shall be null and void; otherwise shall remain in full force and effect. BND 251S REV (05195)