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HomeMy WebLinkAbout1877 S.°?. AM t KIL.AN FiRE I1ND CASUALTY COMPANY ~i~ ~ ORLAN~O. FLORIOA Conti~~et,oir's General A~reemeut o! Iademntty. 3Kiw~w ~!t i~~n bg ikr,~r ~rr~rai~. that whereas. ~t the revuest of thc unduaigned hueiaaftu nEerred to as Indemnitors, and upon coadition that this instrument be exccuted. American Fire tnd Casualty Company. iiercinaEter ; reEerred to as the Sarety, a corporation oE the State of Florida. has execut'd. or may hueafta execute. on behalf of ~ S?AR C4NSTRIJCTIQN COHF'ANY OF FORT PII~CS, II~TC. Fort Piei•ce, Florida - a contractor, certaia insiruments in the nature of preliminary guaranties, boads. undettakings. stipulat?ons or other obUga- c~ans, copy or coples oE which may be hereto attached. ,~1tta ~l~FrpttB. the Indemnitors have a subs!antial, raaterial aad beneRcial intcrest ia theobtaining of thesaid instruments. ~Dllt. ~I~FCP~Dlt. in consideration of the premises the Inaemnitors. for themselves, their heirs. executors, administca- tors, successors and assigns, jointiy and severaAy hereby coven~nt and agree with the Surety, its successors and assigns. as fallows: 1. The Indemnitors shall pay i~ cash to the Surety, in advaace aad at suc6 times aad in such manner as may be agreed upon, the premium or charge of the Surety in respect of each such instrument, and shall, whcre sucL premium or charge is ~nnual, cont:nue to pay the same. until the Surety shall, in the manner provided by law. be discharged or released from any and all liability or responsibility upon and from such iastrument or instruments, and all matters arising thuef.om, and a gen- cral relcase or a written transcript or a notice of the proper legal evidence of such discharge or release be ser~ed on the ~urety, at its oAice in the City of Orlando. 2. Thc Indemnitors shall at all times indemnify and keep indemnified the Surety and hold and save it harmless from and a,~ainst any and all liability, losses, costs, damages, attorneys' and counsel fees, and disbursements. and expeases of what- e~•cr kia3 or nature which the Surety may sustain or incur by reason or in consequence of having executed or procuted the c~ecetion of any instrument or instruments and any rcnewal, continnation, e~ctension or successor thereof, and ~vhich the Surety may sus:ain or incur in taking any steps it may deem necessary in making any iavestigation, i~ defending or prose- cut;ng aey actioas, suits or other proceedings whic~ may be brou9ht, or in recovering or attempting to recover salvage or .:ny ;:~F.aid premium, in obtaining or attempting to obtain release fr~m liability. or in enEorcing aay of the covenaats of this agreement: to pay over, reimburse and make goocl to the Surety, its successors or assigns, all money which t~e Surety or its r~p:esentatives shaU pay, or cause to be paid or become Iiable to pay, by reason of the execution of any instrument or instru- m~nts and aay renewal, continuance, extension or successor thereof, such payments to be made to the Surety as soon as it s!~all become liable therefor. whether the Surety shall have paid out such sum or any part thereof. or not. 3. For the further protection of the Surety, the Indemnitors do hereby assi3n, transfer and convey to the Surety all of :neir right, tide and interest in and to all subcontr~ets: subcontractors' surety bonds: contracts or orders for purchase of ma+ c~rials or installation of equip~ent; and tools, plaat, equipment and ma*_erials of evety nature and descriptioa wherever :ccated and also all monthly, Snal or other estimates and retained percentages: pertaining to or arising out of or in connection .vith ~ny c~ntracts performed or being performed or to be performed, such assigament to ~e in full force and effect as of the ~ate hereof, in the event of default in the perfarmance of, or failure to pay as they become due and payable any bills for labor " er materials in connection with, any contract as to which the Surety has issued, or shall issue, any such instrument or instruments. The Indemn:tors hereby agree to execute and deliver to the Surety, upon request, any further or additional in- strument or instn~ments that may be required by the Surety to effectuate more fully the purposes of the foregoing assignment. 4. If for any reasan the Surety shall be required or shall deem it necessary to set up a reserve in aay amount to cover any contingent claim or claims, loss, costs, attorleys' fees and disbursements or expenses in connection with any instrument by reason cf default in performance or abandonment of contract, liens 61ed, unpaid and past due bills, disputes with the o..~r.er or obligee, or for any reason whatsoever, and regardless of any proceedings contemplated or peading, or the peadency of any apgeal, the Indemnitors jointly and severally hereby covenant and agree immediately upon demand to deposit with ` th~ Surety. in current funds; an amount sufhcient to cover such reserve and any increase thereof, such funds to be held.by thc Surety as collateral, in addition to the indemnity afforded by this instrument, with the right to use such Eunds or any pazt c!~erco~, at any time, in payment or compromise of any ~udgment, claims, liability, loss, damage, attoraeys fees and disburse- ment or other expenses; and if the Surety is required to enforce performance of this covenant by action at law or in equity. c`~~ cests, charges, and eupenses, ineluding counsel or attorneys' fees, which it may thueby incur, shall be included in sucL action and paid by the Indemnitors. Demand s6a11 be suf6cient iE sent by registered mail to the Indemnitors at the address or addresses given herein or last known to the Surety, whether or not actually received. That no act or omission of the Surety, in modiEying, amending, limiting or extendin3 any instrument executed by the Sur~ty, shall in any wise affect thc Indemnitors' liability hereunder, and the Indemnitors agrce that thc Surety may alter. change, modify, amend, limit, or extend any instrument, and may eaecute renewals thereof, or other ncw obligations in its place, or in lieu thereof, and without aotice to the Indemnitors, notice being expressly waived, and in any such case the In- ~emnitors shall be liable to the Surety as Eully and to the same extent on account of any such altered, changed, modifed. :~mcnded, limited or extended instrument, or such renewals thereof, or other or new obligations in its place or in lieu thereof, as if suc6 instruments were described at length herein. _ 6. It shall not be necessary for the Surety to give the Indemnitors notice of any act, fact or infoimation coming to the ~~v:ice or kno.vledge of the Surety concerning or affecting its rights or liability under any sucn instrument by it so execute~. c,r thc Indemnitors' rights or liab?lities hereunder, notice of a~l such being hereby expressly wai~ed. The Surety shall havc t}~c eaclusive right for itself, and for the Indemnitors, to decide and determine whether any claim, demand, liability, sui:. :~;tion, order, judgment or adjudication, made or brought against the Surety and any of the Indemnitors on any inst:cment. juintly or severally, shall or shal) nnt be defenc!ed, trie3 or appealed, and its decision shall be Snal, conclusive an3 binding up~n the Indemnitors, and any order, judgL-*.ont or adjudica~ion made, entered or affirqned as a result thereof, or any loss. costs. charge, expense or I;ability thereby incurred, sustained or paid shall be borne and paid by the Indemnitors immediately t~pon demand by the Surety, and the Indemnitors especially consent tiiereto. 7. In the event the Sur~ty executes such instrument or instruments with co-snreties or reinsures any portion of such in- scrument or instru~ents with Reinsuring Companies, or procures the execution of such instrunient or instruments, the Indem- ~ :~itors agtee that all of the terms and conditions of this agreement shall apply and operate for the benefit of the Surety, the co-sureties, the Reinsuring Companies and the procured sureties, as their interest may appear, and any premium paid thereto ~ or therefor by the Surety on such instr~~ment or instruments shall be as agent of and foc the accour_t of the Indemnitors. ~ 8. If any such instrument is conditioned for the pe:formance of a public works contract with the LInited States or any s;ate or politital sub-divisioa thereof, the laws of which prohibit the assignment of the contract price, or any part thereof, the Indemnitors covenant and agree that all payments received for or on account of said contract shall be held as a trust fur:d in which the Surety has an interest, for the payment of obligations incurred for ]ahor, materials and services furnish~d iz the prosecution of the work provided in said contract or aay authorized er.tension or modi6cation thereof. The Indemni- tors also covenant and agree that the Surety shall, at its option and in its so:e discretion, have the right to take possession oE all or any part of tHe ~vork of any contrac:, whenever, in its sole opiaion, such action is desirable or necessary, and at the ex~er.se of the Indemnitors to complete, or cause the completion of, any such wor:c, or re-let, or consent to the re-letting or co ' •~ion cf, such contract. ~ _ gooK 161 PAGE 75 r.R+ " ?3 ~`v~ - ~,~,^°4' ~ ' Z k 'L . -F-~'. ~d' ~~~tiA y.{ ° .ar=,i.' .~~...ys~ ~ a .J~ . '~:1 ~ _ ~ - . _ ~_i~c . _ . . . .