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HomeMy WebLinkAboutContract 31481 FORTWORTH CITY SECRETARY CONTRACT NO. AGREEMENT TO EXTEND SURFAC EDGE MILLING 2004-3 CONTRACT (CITY OF FORT WORTH CONTRACT NO. 29552) 1. This contract is hereby extended for the second year by mutual agreement of both parties. 2. Pay Items No. 1 thru No. 4 as the second year shall be: Pay Approx. Description of Items with Bid Unit Total Item uanti Prices Written In Words Price Amount of Bid 1 131,250 L.F. Wedge Milling 2"to 0"Depth 5.0' Wide @ One Dollars& No Cents per L.F. 1.00 $ 131,250.00 2 100 Ea. Butt Joint-Milled @ Two Hundred Thirty Six Dollars& _Twenty Five Cents per Ea. $ 236.25 $ 23,625.00 3 14 Ea. Mobilization @ Five Hundred Twenty-Five Dollars& No Cents per Ea.. $ 525.00 $ 7,350.00 4 1,000 S.Y. 2" Surface Milling @ Two Dollars & Sixty Three per S.Y. 2.63 $ 2,630.00 TOTAL $ 164,855.00 APPROVALS SUTTON & ASSOZtATES, L.P. ITY F FORT W by S.A. nc i G artner Michael utt n M rc O Director Assista t City Manager Date: Z(21 L� Law Date: Contract Authorization ATTESTED BY: JC APPROVED AS TO FORM AND Data f ML Marty Hendr& AqG��ary S eiinC(b��t�ev,q4tt City Secretary TRANSPORTATION AND PUBLIC W& tB�:PARTMERfeY rr� nV.LI li J \:i dLL THE CITY OF FORT WORTH * 1000 THROCKMORTON STREET * FORT WORTH, TEXAS 76102 81 871-7800 * FAx 81 871-8092 � � � � i 'l� rr!k:�Jtip UL rpep- Bond# F16646 PERFORMANCE BOND THE STATE OF TEXAS § § KNOW ALL BY THESE PRESENTS: COUNTY OF TARRANT § That we, (1) Sutton & Associates. L.P. , as Principal herein, and (2)_A(sm Tnswame Cmnv a corporation organized under the laws of the State of(3)I7UmLs and who is authorized to issue surety bonds in the State of Texas, Surety herein, are held and firmly bound unto the City of Fort Worth, a municipal corporation located in Tarrant and Denton Counties, Texas, Obligee herein, in the sum of One Hundred Sixty Four Thousand, Eight Hundred Fifty Five Dollars and No Cents Dollars ($164,855.00) for the payment of which sum we bind ourselves, our heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents. WHEREAS, Principal has entered into a certain written contract with the Obligee dated the 6th day of January , 2004, a copy of which is attached hereto and made a part hereof for all purposes, for the construction of SURFACE WEDGE MILLING 2004-3 AT VARIOUS LOCATIONS (One and Only Extension) Proiect No. GS93-020930580040. NOW, THEREFORE, the condition of this obligation is such, if the said Principal shall faithfully perform the work in accordance with the plans, specifications, and contract documents but limited to only pay items 1, 2, 3 and 4 on Agreement to Extend Surface Wedge Milling 2004-3 Contract (City of Fort Worth Contract No. 29552) and limited to work performed from 1/6/05 — 1/6/06 and shall fully indemnify and hold harmless the Obligee from all costs and damages which Obligee may suffer by reason of Principal's default, and reimburse and repay Obligee for all outlay and expense that Obligee may incur in making good such default, then this obligation shall be void; otherwise, to remain in full force and effect. PROVIDED, HOWEVER, that this bond is executed pursuant to Chapter 2253 of the Texas Government Code, as amended, and all liabilities on this bond shall be determined in accordance with the provisions of such statute, to the same extent as if it were copied at length herein. IN WITNESS WHEREOF, the duly authorized representatives of the Principal and the Surety have executed this instrument. SIGNED and SEALED this 18th day of Edn&a � vU°7If _N Bond No. F16646 Suttan & Associtates LP PRINCIPAL ATTE T: By: Name: (Principa Secretary Title: Dlse &Ao r (S E A L) Address: -= N. Main Street Keller, TX 76248 X., a Witness as to,Principal ACKAR Imnance Caqpeny SURETY ATTEST: By: Name: Henry W. Nozko. Jr. Secretary Robert H. Frazer Attorney in Fact (S E A L) Address: 233 Main Street New Bd tni n, Cr MUM T Vvi(ness as to rety Telephone Number: 860"'224 2000 NOTE: (1) Correct name of Principal (Contractor). (2) Correct name of Surety. (3) State of incorporation of Surety Telephone number of surety must be stated. In addition, an original copy of Power of Attorney shall be attached to Bond by the Attomey-in-Fact. The date of bond shall not be prior to date of Contract. Bond# F16646 PAYMENT BOND THE STATE OF TEXAS § § KNOW ALL BY THESE PRESENTS: COUNTY OF TARRANT § That we, (1) Sutton & Associates. L.P. ,`as Principal herein, and (2) &= mrnma Ca= a corporation organized and existing under the laws of the State of(3)Illinois , as surety, are held and firmly bound unto the City of Fort Worth, a municipal corporation located in Tarrant and Denton Counties, Texas, Obligee herein, in the amount of One Hundred Sixty Four Thousand, Eight Hundred Fifty Five Dollars and No Cents Dollars ( $ 164,855.00 ) for the payment whereof, the said Principal and Surety bind themselves and their heirs, executors, administrators, successors and assigns, jointly and severally, firmly by these presents: WHEREAS, the Principal has entered into a certain written contract with the Obligee dated the 6t" day of January , 2004, which contract is hereby referred to and made a part hereof as if fully and to the same extent as if copied at length, for the following project: SURFACE WEDGE MILLING 2004-3 AT VARIOUS LOCATIONS (One and Only Extension) Project No. GS93-020930580040. NOW, THEREFORE, THE CONDITION OF THIS OBLIGATION IS SUCH, that if the said Principal shall faithfully make payment to each and every claimant (as defined in Chapeter 2253, Texas Government Code, as amended) supplying labor or materials in the prosecution of the work under the contract, but limited to only pay items 1, 2, 3, and 4 on Agreement to Extend Surface Sedge Milling 2004-3 Contract (City of Fort Worth Contract No. 29552) and limited to work performed from 1/6/05— 1/6/06, then this obligation shall be void; otherwise, to remain in full force and effect. PROVIDED, HOWEVER, that this bond is executed pursuant to Chapter 2253 of the Texas Government Code, as amended, and all liabilities on this bond shall be determined in accordance with the provisions of said statute, to the same extent as if it were copied at length herein. IN WITNESS WHEREOF, the duly authorized representatives of the Principal and the Surety have executed this instrument. SIGNED and SEALED this 18th day of Febnk ' 2005. ^ U Bond No. F16646 Suttcn & Associates, IP PRINCIPA ATTEST: I By: !/ Name: v�� a�`� �. gy Lob (Principal) Secretary Title: 17 ecc c '®C (S E A Q Address: 820 N. Main Street Keller. U 76248 Witness as to Principal X SI'AR Insurance Canpeny SURETY ATTEST, By: Name: Henry W. No&p. Jr., President Secretary Robert H. Frazer Attorney in Fact (S E A Q Address: 233 Main Street New Britain. Cr 06050 ess as to Pprety Telephone Number: 860--22+-2000 NOTE: (1) Correct name of Principal (Contractor). (2) Correct name of Surety. (3) State of incorporation of Surety Telephone number of surety must be stated. In addition, an original copy of Power of Attorney shall be attached to Bond by the Attomey-in-Fact. The date of bond shall not be prior to date of Contract. , MAINTENANCE BOND Bond# � THE STATE OF TEXAS § COUNTY OF TARRANT § KNOW ALL BY THESE PRESENTS: That_ _ Sutton &Associates. L.P. ("Contractor"), as principal, and, ASPAI:t Insurance Company a corporation organized under the laws of the State of Tuinnis , ("Surety"), do hereby acknowledge themselves to be held and bound to pay unto the City of Fort Worth, a Municipal Corporation chartered by virtue of Constitution and laws of the State of Texas, ("City") in Tarrant County, Texas, the sum of One Hundred Sixty Four Thousand, Eiaht Hundred Fifty Five Dollars and No Cents Dollars ($164,855.00), lawful money of the United States, for payment of which sum well and truly be made unto said City and its successors, said Contractor and Surety do hereby bind themselves, their heirs, executors, administrators, assigns and successors, jointly and severally. This obligation is conditioned, however, that: WHEREAS, said Contractor has this day entered into a written Contract with the City of Fort Worth, dated the 6t' of January , 20 04, a copy of which is hereto attached and made a part hereof, for the performance of the following described public improvements: SURFACE WEDGE MILLING 2004-3 AT VARIOUS LOCATIONS (One and Only Extension) the same being referred to herein and in said contract as the Work and being designated as project number(s) GS93-020930580040 and said contract, including all of the specifications, conditions, addenda, change orders and written instruments referred to therein as Contract Documents being incorporated herein and being made a part hereof-, and, WHEREAS, in said Contract, Contractor binds itself to use such materials and to so construct the work that it will remain in good repair and condition for and during a period of after the date of the final acceptance of the work by the City; and WHEREAS, said Contractor binds itself to maintain said work in good repair and condition for said term of 2 (Two)Years ; and WHEREAS, said Contractor binds itself to repair or reconstruct the Work in whole or in part at any time within said period, if in the opinion of the Director of the City of Fort Worth Department of Engineering, it be necessary; and, WHEREAS, said Contractor binds itself, upon receiving notice of the need therefore to repair or reconstruct said Work as herein provided. NOW THEREFORE, if said Contractor shall keep and perform its said agreement to maintain, repair or reconstruct said Work in accordance with all the terms and conditions of said Contract, but limited to only pay items 1, 2, 3 and 4 on Agreement to Extend Surface Sedge Milling 2004-3 Contracoj-")� (City of Fort Worth Contract No. 29552) and limited to work performed from 1/6/05— 1/6/06 these TLRI presents shall be null and void, and have no force or effect. Otherwise, this Bond shall be and remain in full force and effect, and Bond No. F16646 the,City shall have and recover from Contractor and Surety damages in the premises as prescribed by said Contract. This obligation shall be a continuing one and successive recoveries may be had hereon for successive breaches until the full amount hereof is exhausted. IN WITNESS WHEREOF, this instrument is executed in 6 counterparts, each of which shall be deemed an original, this 18th day of February , A.D. 2005. Suttm 9 Associates, LP PRINCIPAL ATTEST: By: Name: (Principal) Secretary Title: l,rcA6�' (S E A L) Address: 820 N. Main Street Kelly. TX 76248 illk- 1� Witness as to rincipal ACSKAR Insurance Ccwany SUR,ErTY.q�/ ATTEST: By:./� , I Name: Henry W. Nozko, Jr., President Secretary Robert H. Frazer Attorney in Fact (S E A L) Address: 233 Main Street New Britain, Cr 06050 r � Witness as to ety Telephone Number: `2000 NOTE: (1) Correct name of Principal (Contractor). (2) Correct name of Surety. (3) State of incorporation of Surety Telephone number of surety must be stated. In addition,an original copy of Power of Attorney shall be attached to Bond by the Attomey-in-Fact. The date of bond shall not be prior to date of Contract. 1 n CERTIFICATE OF INSURANCE STANDARD FORM BY INSURER ACSTAR INSURANCE COMPANY 233 MAIN STREET•P.O.BOX 2350•NEW BRITAIN,CT 06050-2350•(860)224-2000 BOND NO. F )lo loAALe STATUTORY COMPLAINT NOTICE To obtain information or make a complaint: You may call the Surety's telephone number for information or to make a complaint at: 1-860-224-2000 You may also write to the Surety at: ACSTAR Insurance Company 233 Main St. P.O. Box 2350 New Britain, CT 06050-2350 You may contact the Texas Department of Insurance to obtain information on companies, coverage, rights or complaints at 1-800-252-3439. You may write the Texas Department of Insurance at: P.O. Box 149104 Austin, TX 78714-9104 Fax#: 512-475-1771 PREMIUM OR CLAIM DISPUTES: Should you have a dispute concerning your premium or about a claim,you should contact the Surety first. If the dispute is not resolved, you may contact the Texas Department of Insurance. RIDER CONTAINING DISCLOSURE NOTICE OF TERRORISM COVERAGE This disclosure notice is required by the Terrorism Risk Insurance ACT of 2002 (the"Act"). No action is required on your part. This Disclosure Notice is incorporated in and a part of the attached bond, and is effective the date of the bond. You should know that, effective November 26, 2002, any losses covered by the attached bond that are caused by certified acts of terrorism would be partially reimbursed by the United States under a formula established by the Act. Under this formula,the United States reimburses 90% of covered terrorism losses exceeding the statutory established deductible paid by the insurance company providing the coverage. Under the Act, there is a cap on our liability to pay for covered terrorism losses if the aggregate amount of insured losses under the Act exceeds$100,000,000,000. during the applicable period for all insureds and all insurers combined. In that case,we will not be liable for the payment of any amounts which exceeds that aggregate amount of$100,000,000,000. The portion of your premium that is attributed to coverage for acts of terrorism is IQQQ. IMPORTANT NOTE: THE COST OF TERRORISM COVERAGE IS SUBJECT TO CHANGE ON ANY BONDS THAT PREMIUM IS CHARGED ANNUALLY. Exclusion of Liability for Mold, Mycotoxins, and Fungi The Bond to which this Rider is attached does not provide coverage for, and the surety thereon shall not be liable for, molds, living or dead fungi, bacteria, allergens, histamines, spores, hyphae, or mycotoxins, or their related products or parts, nor the remediation thereof, nor the consequences of their occurrence, existence, or appearance. ACSTAR 233 MAIN STREET•P.O.BOX 2350 NEW BRITAIN,CT 06050-2350 POWER OF ATTORNEY INSURANCE COMPANY (860)224-2000 N2 18733 This Power of Attorney must have original corporate seal, and red and blue ACSTAR logo to be valid. Know all men by these presents: That ACSTAR Insurance Company, a corporation of the State of Illinois, having its principal office in the City of New Britain,Connecticut,pursuant to the following Resolution,which was adopted by the Board of Directors of the said Company on June 26,2003,to wit: thereof: RESOLVED,That the following Rules shall govern the execution for the Company of bonds, undertakings, recognizances,contracts and other writings in the nature (1) That the Chairman,the President,any Vice President and General Counsel,or any Attorney-in-fact,may execute for and on behalf of the Company any and all bonds,under- takings,recognizances,contracts and other writings in the nature thereof,the same to be attested when necessary by the Corporate Secretary,or any Assistant Corporate Secretary,and the seal of the Company affixed thereto;and that the Chairman or President may appoint and authorize any other Officer(elected or appointed)of the Company, and Attorneys-in-Fact to so execute or attest to the execution of all such writings on behalf of the Company and to affix the seal of the Company thereto. (2) Any such writing executed in accordance with these Rules shall be as binding upon the Company in any case as though signed by the President and attested to by the Corporate Secretary. (3) The signature of the Chairman,the President,or a Vice President of the Company may be affixed by facsimile on any power of attorney granted pursuant to this Resolution, and the signature of a facsimile to any certificate of any such power,and any such power or certificate bearing such facsimile signature and seal shall be valid and binding on the Company. (4) Such other Officers of the Company,and Attorneys-in-Fact shall have authority to certify or verity copies of this Resolution,the By-Laws of the Company,and any affidavit or record of the Company necessary to the discharge of their duties. +. 4 does hereby nominate,constitute and appoint O CL HENRY W.NOZKO,JR., ROBERT H.FRAZER, DAVID A.PRICE, MICHAEL P.CIFONE, JOAN C. FORTIER,HENRY W.NOZKO III each rn individually, its true and lawful Attorney-in-fact,to make, execute, seal and deliver on its behalf, and as its act and deed any and all bonds, under- Y O takings,recognizances,contracts and other writings in the nature thereof in penalties not exceeding TEN MILLION DOLLARS($10,000,000.00)each, N C and the execution of such writings in pursuance of these presents, shall be as binding upon said Company, as fully and amply, as if they had been N duly executed and acknowledged by the regularly elected officers of the Company at its principal office. L IN WITNESS WHEREOF, Henry W. Nozko, Jr., President, has hereunto subscribed his name and affixed the corporate seal of ACSTAR U O Insurance Company this 1st day of July 2003. w- =3 O cis NACSTAR Insurance Company C.� ttS � b 0 L y enry W.No Jr.,Presiden O STATE OF CONNECTICUT ) 0 4 )ss.NEW BRITAIN C N COUNTY OF HARTFORD } N CU 0)a) On this 1 st day of July 2003, before me, a Notary Public of the State of Connecticut came, Henry W. Nozko, Jr., President of ACSTAR -tO C Insurance Company, to me personally known to be the individual and officer who executed the preceding instrument, and he acknowledged that he executed the same, and the seal affixed to the preceding instrument is the corporate seal of said Company; that the said corporate seal and his signatures were duly affixed by the authority and direction of the said corporation, and the Resolution adopted by the Board of Directors of said Company, referred to in the preceding instrument, is now in force. U CZ N IN TESTIMONY WHEREOF,I have hereunto set my hand and affixed my official seal at the City of New Britain the day and year first above written. " uuwta4Z U 4111'PA' F4 •�, oTA �y R =z ®®�, cl of , 'V IV C t�,�lrrrrra Notary Public—Andrea M.Pappalardo P {ry1NN10111f1tirt I, the undersigned, Secretary or Assistant Secretary of ACSTAR Insurance Company, do hereby certify that the original POWER OF ATTORNEY of which the foregoing is a full, true and correct copy, is in full force and effect. In witness whereof, I have hereunto subscribed my name as Secretary or Assistant Secretary, and aff ixAd the corporate seal of the Corporation, this 15A day of 2006 Robert H.Frazer/Michael P.CIf Secretary /Assistant Secreta Client#: 52063 SUTTO ACORDTM CERTIFICATE OF LIABILITY INSURANCE 02/21/0°"m'' PRODUCER THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION 817-347-6825 or 800-728-2374 X253 ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE Higginbotham&Assoc., Inc. HOLDER.THIS CERTIFICATE DOES NOT AMEND,EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. P O Box 908 Fort Worth,TX 76101 INSURERS AFFORDING COVERAGE NAIC# INSURED North INSURER A: Twin City Fire Insurance Company Hartford 820 No Sutton t Associates, L.P. INSURER B: RSUI Indemnity Company Heath-Dal h Main INSURERc: Hartford Underwriters Ins Co Hartford Keller,TX 76248 INSURER D: INSURER E: COVERAGES THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED.NOTWITHSTANDING ANY REQUIREMENT,TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS CERTIFICATE MAY BE ISSUED OR MAY PERTAIN,THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,EXCLUSIONS AND CONDITIONS OF SUCH POLICIES.AGGREGATE LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS. INSR ADD' POLICY EFFECTIVE POLICY EXPIRATION LTR INSR TYPE OF INSURANCE POLICY NUMBER DATE MM/DD/YY DATE MMMD LIMITS A GENERAL LIABILITY 46CQT0879 04/10/04 04/10/05 EACH OCCURRENCE $1,000,000 N:C_�Oim M ERCIAL GENERAL LIABILITY DAMAGE TO RENTED $3OO OOO nce CLAIMS MADE �OCCUR MED EXP(Any one person) $1 O OOO PERSONAL&ADV INJURY $1,000,000 GENERAL AGGREGATE s2,000,000 KEN'L AGGREGATE LIMIT APPLIES PER: PRODUCTS-COMP/OP AGG $2 000 000 POLICY D jE LOC A AUTOMOBILE LIABILITY 46UENQT0880 04/10/04 04/10/05 COMBINED SINGLE LIMIT $1,000,000 X ANY AUTO (Ea accident) ALL OWNED AUTOS BODILY INJURY SCHEDULED AUTOS (Per person) $ X HIRED AUTOS BODILY INJURY X NON-OWNED AUTOS (Per accident) $ PROPERTY DAMAGE $ (Per accident) GARAGE LIABILITY AUTO ONLY-EA ACCIDENT $ ANY AUTO OTHER THAN EA ACC $ AUTO ONLY: AGG $ B EXCESS/UMBRELLA LIABILITY NH025462 04/10/04 04/10/05 EACH OCCURRENCE s2,000,000 X1 OCCUR D CLAIMS MADE AGGREGATE $2 000 000 DEDUCTIBLE $ X RETENTION $10000 $ C WORKERS COMPENSATION AND 46WEQT0878 04/10/04 04/10/05 �( OR STATUS OTH- EMPLOYERS'LIABILITY ANY PROPRIETOR/PARTNER/EXECUTIVE E.L.EACH ACCIDENT $1,000 OOO OFFICER/MEMBER EXCLUDED? E.L.DISEASE-EA EMPLOYEE $11,0002000 If yes,describe under SPECIAL PROVISIONS below E.L.DISEASE-POLICY LIMIT 1$1,000,000 OTHER DESCRIPTION OF OPERATIONS/LOCATIONS/VEHICLES/EXCLUSIONS ADDED BY ENDORSEMENT 1 SPECIAL PROVISIONS Re:Surface Wedge Milling(2004-3) at Various Locations: (One&Only Extension)Project No. GS93-020930580040(City of Ft.Worth Contract No.29552) Various locations in Fort Worth,Texas (See Attached Descriptions) CERTIFICATE HOLDER CANCELLATION SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE THE EXPIRATION City of Fort Worth DATE THEREOF,THE ISSUING INSURER WILL ENDEAVOR TO MAIL 'An WRITTEN Attn: Najib Fare NOTICE TO THE CERTIFICATE HOLDER NAMED TO THE LEFT,BUT FAILURE TO DO SO SHALL 1000 Throckmorton St IMPOSE NO OBLIGATION OR LIABILITY OF ANY KIND UPON THE INSL` ER,rrl miENTSIOR Ft.Worth,TX 76102 REPRESENTATIVES. AUTHORIZED REPRESENTATIVE ACORD 25(2001/08)1 of 3 #S143199/M123195 13ES © ACOR6 CORPORATION 1988 ) IMPORTANT If the certificate holder is an ADDITIONAL INSURED,the policy(ies)must be endorsed. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy,certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s). DISCLAIMER The Certificate of Insurance on the reverse side of this form does not constitute a contract between the issuing insurer(s), authorized representative or producer, and the certificate holder, nor does it affirmatively or negatively amend, extend or alter the coverage afforded by the policies listed thereon. ACORD 25-S(2001/08) 2 of 3 #S143199/M123195 DESCRIPTIONS (Continued from Page 1) City of Fort Worth is included as an additional insured on the General Liability policy which is Primary insurance as respects other collectible insurance carried by additional insured but subject to policy terms, conditions and exclusions. These coverages are afforded where required by written contract but only in accordance with policy terms,conditions and exclusions and only with respect to liability arising out of operations of the named insured. AMS 25.3(2001/08) 3 of 3 #S143199/M123195 FUNDS ADMINISTRATION AGREEMENT This�agrUment made by and among Ste. 04 RSSp4S, , �-. P . here nafter referred to as the "Principal", �g of toc� Wet'' TX . , nereinafte,referred to as the"Ooiigee", and ACSTAR insurance Company, nereinafter referred to as "ACSTAR WITNESSETH Whereas, the Principal has entered into a FFontract hereinafter r (erred to as contract, with Obligee whereby the Pri cipal wili perform *:Sl �c z 111 4rt',�!i a,G 200 4 AT \T ai-o eta n �,, N s t MI E'd xc i Whereas, the said Contract requires that the Principal obtain a Performance and Payment Bond; and Whereas, the Principal has made application for said bond to ACSTAR; and Whereas, as a condition of issuing its Bond, ACSTAR requires that all payments due from the Obligee to the Principal for work performed under the Contract be deposited with ACSTAR directly. The amount deposited with ACSTAR shall be in the amount of the Contract as amended. Disbursements shall be made by' ACSTAR to the various suppliers and subcontractors for materials and/or services furnished to the above described project at the request of the Principal; and Whereas, Principal and Obligee agree that ACSTAR shall receive, deposit and disburse all payments due from Obligee to Principal as described herein. NOW, THEREFORE, in consideration of$10.00 and other good and valuable consideration the parties hereto agree as follows: 1. ACSTAR agrees to issue said surety bond, which shall carry Bond No. F%j.to 2. The principal shall direct the Obligee to make all checks or drafts in payment of any monies due to Principal under the Contract payable to ACSTAR. 3. Checks or drafts in payment of any monies due to Principal from Obligee in connection with the Contract shall promptly be delivered to ACSTAR at 233 Main Street, P.O. Box 2350, New Britain, CT 06050-2350. 4. ACSTAR agrees that upon receipt of any contract funds, it will deposit the same and shall release said funds upon the Principal's sworn statement in which it lists the names of the suppliers and subcontractors who are entitled to receive payment and the amounts due and owing to each. Further, it is agreed that each sworn statement shall be accompanied by partial Waivers of Lien, delivery receipts and tickets, invoices and/or similar supporting documentation, as may be reasonably required by ACSTAR. Notwithstanding, ACSTAR reserves the right to retain a portion of such contract funds in an amount determined by ACSTAR,which such determination shall not be unreasonable, as a retainage of collateral in consideration of issuing the bond. 5. ACSTAR will make each disbursement check payable directly to the supplier or subcontractor to whom each payment is due. 6. Principal shall be responsible for any reasonable expense of ACSTAR for services, legal or otherwise, necessarily incurred in carrying out its duties. Additionally, said Principal hereby agrees to indemnify and hold harmless ACSTAR from any and all attorney fees, costs, and expenses incurred to protect its interests and/or to enforce its rights and remedies under this Agreement Aoread and accepted: a x.66 L• 64 �•t .t��G• �►cN•�64S&RInsurance Comoanv Pr' -06, -Z'j-0 5_ By: 1tA►G`+�tC` tu:�Dr� �rlS.i� c.nfi Henry tdozko,Jr., President (Print n me and title.) tMnt near a and titic) Date: I Z"1- 0 Date' Phone:— 811- 3"l ti- 55-71 icx� . ZZ 1 Cmd Fna: N&ba!q CONSENT AA as Obligee agrees to direct all payments due under its contract with dffopt- �SSoCts'T!<i L to ACSTAR Insu ance Company with ACSTAR Insurance Company as sole payee unless otherwise directed by ACSTAR Insurance Company. cAu yar� Ufa \ �- (Obis c) By' r tJVED AS TO FORM AND LEGALITY: PS )Once p�rrtko� (Print name and title) Date: �iSu"ISt�Rt Attortacy Phone: 5517` 39)- 51`1 CRY Lin`� Ak �ACSTAR INSURANCE COMPANY 233 MAIN STREET•P.O.BOX 2350•NEW BRITAIN,CT 06050-2350•(860)224-2000 February 23, 2005 City of Fort Worth 1000 Throckmorton Street Fort Worth, TX 76102 Attn: Vicki McDonald RE: SUTTON & ASSOCIATES, LP FUNDS CONTROL ADMINISTRATION FOR SURFACE WEDGE MILLING 2004-3 (a.VARIOIIS LOCATIONS PROJECT NO. GS93-020930580040 - BOND NO. F16646 Dear Ms. McDonald: Enclosed for your reference and file is a copy of the executed Funds Control Agreement that was signed by your organization, ACSTAR Insurance Company and by the contractor in contract with you to perform the above work. Your contact at ACSTAR is Dennis Kane. As indicated in the Funds Administration Agreement please forward all contract payments to: ACSTAR Insurance Company 233 Main Street New Britain, CT 06050 Should you have any questions, Please do not hesitate to contact us. Our telephone numbers are as follows: Telephone: (860) 224-2000 Fax: (860) 229-1111 Yours very truly,u Diane L. Plante cc: James R. Keyes, City of Fort Worth Michael Sutton, Sutton & Associates, LP Dennis Kane, ACSTAR Insurance.Company