Common use of Whenever Design-Build Clause in Contracts

Whenever Design-Build. Firm shall be, and declared by City to be, in default under the Contract, City having performed City obligations hereunder, the Surety may promptly remedy the default, or shall promptly: 4.1. Complete the Project in accordance with the terms and conditions of the Contract Documents; or FORM OF PERFORMANCE BOND (Page 2 of 2) 4.2. Obtain a bid or bids for completing the Project in accordance with the terms and conditions of the Contract Documents, and upon determination by Surety of the lowest responsible Bidder, or, if City elects, upon determination by City and Surety jointly of the lowest responsible Bidder, arrange for a contract between such Bidder and City, and make available as Work progresses (even though there should be a default or a succession of defaults under the Contract or Contracts of completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the Contract Price; but not exceeding, including other costs and damages for which the Surety may be liable hereunder, the amount set forth in the first paragraph hereof. The term "balance of the Contract Price," as used in this paragraph, shall mean the total amount payable by City to Design-Build Firm under the Contract and any amendments thereto, less the amount properly paid by City to Design-Build Firm. No right of action shall accrue on this bond to or for the use of any person or corporation other than City named herein. The Surety hereby waives notice of and agrees that any changes in or under the Contract Documents and compliance or noncompliance with any formalities connected with the Contract or the changes does not affect Surety's obligation under this Bond. Signed and sealed this ______ day of _____________________, 20_____. WITNESSES: __________________________ (Name of Corporation) __________________________ Secretary By: __________________________ (Signature) (CORPORATE SEAL) __________________________ (Print Name and Title) IN THE PRESENCE OF: INSURANCE COMPANY: _________________________ By: ________________________ _________________________ Agent and Attorney-in-Fact _________________________ Address: ________________________ (Street) _____________________________ (City/State/Zip Code) Telephone No.: ________________ FORM OF PAYMENT BOND (Page 1of 2) BY THIS BOND, We _______________________________________, as Principal, hereinafter called Design-Build Firm, and _______________________________, as Surety, are bound to the City of Miami, Florida, as Obligee, hereinafter called City, in the amount of ______________________________ Dollars ($____________) for the payment whereof Design-Build Firm and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally.

Whenever Design-Build. Firm shall be, and declared by City to be, in default under the Contract, City having performed City obligations hereunder, the Surety may promptly remedy the default, or shall promptly: 4.1. Complete the Project in accordance with the terms and conditions of the Contract Documents; or FORM OF PERFORMANCE BOND (Page 2 of 2) 4.2. Obtain a bid or bids for completing the Project in accordance with the terms and conditions of the Contract Documents, and upon determination by Surety of the lowest responsible Bidder, or, if City elects, upon determination by City and Surety jointly of the lowest responsible Bidder, arrange for a contract between such Bidder and City, and make available as Work progresses (even though there should be a default or a succession of defaults under the Contract or Contracts of completion arranged under this paragraph) sufficient funds to pay the cost of completion less the balance of the Contract Price; but not exceeding, including other costs and damages for which the Surety may be liable hereunder, the amount set forth in the first paragraph hereof. The term "balance of the Contract Price," as used in this paragraph, shall mean the total amount payable by City to Design-Build Firm under the Contract and any amendments thereto, less the amount properly paid by City to Design-Build Firm. No right of action shall accrue on this bond to or for the use of any person or corporation other than City named herein. The Surety hereby waives notice of and agrees that any changes in or under the Contract Documents and compliance or noncompliance with any formalities connected with the Contract or the changes does not affect Surety's obligation under this Bond. Signed and sealed this ______ day of _____________________, 20_____20 . WITNESSES: __________________________ (Name of Corporation) __________________________ Secretary By: __________________________ (Signature) (CORPORATE SEAL) __________________________ (Print Name and Title) IN THE PRESENCE OF: INSURANCE COMPANY: _________________________ By: ________________________ _________________________ Agent and Attorney-in-Fact _________________________ Address: ________________________ (Street) _____________________________ (City/State/Zip Code) Telephone No.: ________________ FORM OF PAYMENT BOND (Page 1of 2) BY THIS BOND, We _______________________________________, as Principal, hereinafter called Design-Build Firm, and _______________________________, as Surety, are bound to the City of Miami, Florida, as Obligee, hereinafter called City, in the amount of ______________________________ Dollars ($____________$ ) for the payment whereof Design-Build Firm and Surety bind themselves, their heirs, executors, administrators, successors and assigns, jointly and severally.