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HomeMy WebLinkAbout1885 /11r~~~~~?nl~ FIRE ANO CASUAITY CONlPANY ORV?MOO. FLORIOA ~onta•acter'~ General A~a~eement ~i Indemn~ty. ~ttplit ~~l ~tt ~ I~PBt ~rrgri~~. that whaeas, at tLe nquest oE the uadusigned hereinafta referred to as ; Ind:mnitors, and upon condition that this instrument bt executed. Arnerican Fire and Ct.sualty Compsny. hereinafta ~ referred to as the Suety, a corporation of the State of Florlds, has txecuted, ot may haeafter execute. on behalf of 3 STAR CONSTR7JCTION ~OMPANY 0~' FURT PIFRCE, INC. t r?AUte 3 Hox 620, Fart Pierce, Florida ~ . . : a:ontrac;or, certain instrumeats in t:.~ nature uE preliminary guazanties, boads, undertakia8s, stipulations or other ob119a• ; ttons, copy or copies of which may be hereto attached. ~.~1u13~l~rrras. the Iadtmnitors have a substantial, material and beae8cial intcrest ia theobtainiag of the said iastruments. ' s"1~DUt. ~l~et'PfDit. in considerat;on of the premises the Indemnitors. for themselves, their heirs, executors. admiaistra- tors, successors and assigns, jointly and severaily hereby covenant aad a8re~ with th~ Surety, its successers and assigus, as f ol lows: F 1. The Indemnitors shall pay ia cash to the Surety, in advaace and at suc6 times and in such maaner as may be agrecd ' upon. the premium or charge of the Surety in respect of each such instrument. aad shall, where such premium or char~e is ~ annual, continue to pay the same, until the Surety shall, in the maaner provided by law. be discharged or released from any and all liability or responsibility upon and from such instrument or instrumtnts, and all matters arising therefrom, and a gen- ; c: al release or a written transcript or a notice of the proper legal evidence of such dischazge or release be ser~ ed oa the ~~:rety, at iis oEfice in the City of Orlando. : 2. The In~emnitors shall at all tiwes indemniEy and keep indemniHed the Surety and hold and save it harmless from and ± a:~ainst any and all liabilety. losses, costs, damages, attorneys' and counsel fees, and disbursements, and expenses of what- ; e.•cr kind or nature ~vhich the Surety may sustain or incur by reason or ia consequence oE having executed or procured the > cxecation of any instrument or instruments and any renewal, continnation, extension or successor thereof, and ~vhlch the S~rcty may sus:ain or incur in taking any steps it may deem necessary in makiag any investigation. in defending or prose- cuting aey actions, suits or other proceedings which may be broug6t. or ia recovering or attempting to recover salvage os :.ny ;:~;.aid premium, in obtaining or attempting to obtain release from liability, or in enforcing any of the covenants of this ~~greement; to pay over, reimburse and make good to the Surety, its successors or assigns, all money which the Surety or its r:Y:CS¢IIt3tiVCS shaU pay, or cause to be paid or become liable to pay. by reason of the execution of any instrument or instru- m~nts and any renewal, continuance, exteasion or successor thereof, such payments to be made to tht Surety as soon as it - shall become liable t6erefor. whether the Surety shall have paid out such sum or any part thereof. or not. 3. For t6e further protection of the Surety, the Indemnitors do hereby assign, transfer and convey to the Surety all of ;ncir right, title and interest in and to all subcontracts; subcontractors' surety bonds; contracts or orders for purchase of ma- ccr;als or installation of ~uip~ent: and tools, plant, equipment and materiaLs of every nature and description wherever :ccated and also all month y, final or othec estimates and retained percentages: pertaining to or arising out of or in connection .~ith ~ny cantracts performed or being performed or to be performed, such assigament to be in full force and effect as of the Gate nereof, in the event of default ia the performance of, or failure to pay as they become due anci payable any bills for labor e; materials in connection with, aay 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- strcment or instruments that may be required by the Surety to effectnate 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 any amount to cover ar~y contingent claim or claims, loss, costs, attoraeys' fees and disbursemeats or expenses in connection with any instrument by rcason af default in performance or abandonment of c~ntract, liens 6led, unpaid and past due bills, disputes with the o«~r.er or obligee, or for any reason whatsoever, and regardless of any proceedin~s contemplated or pending, or the pendency of any appeal, the-Indemnitors joindy and severally hereby covenaat and agree immediately upon demand to deposit with the Surety, in current Eunds, aa amount suHicient to cover such reserve and aay increase thereof, such funds to be held by ihc Surety as collateral, in addition to the indemnity afforded by this instrument, with the right to use snch funds or any part I~ chercoi, at any time, in payment or compromise of any judyment, claims, liability, loss, damage, attorneys' fees and disburse- ~ nent or other expenses: and if the Surety is required to enEorce puformance of this covenant by action at law or in equity. cests, charges, and er.penses, including counsel or attorneys' fees, which it max thereby incur, shall be induded in such action and paid by the Indemnitors. Uemand shall be suflicient if sent by registered mail to the Indemnitors at the address or a~'dresses givcn herein or last known to the Surety, whether or not actuaUy received. 5. That no act or omission of the Surety. in modifying, amending, limiting or extending any instrument executed by the ~urcty, shall in any wise affect the Indemnitors' liability hereunder, and the Indemnitors agree that the Surety may alter. chan~e, modify, amend, limit, or extend any instrument, and may execute renewals thereof, or other new obligations in its place, or in lieu thereof, and without notice to the Indemnitors, notice being expressly waived, and in any such case the In- u~mnitors shall be liable to the Surety as [ully and to the same extent oa account of aay such altered, changed, modi~ed, ;~mcnded, limite~i or extended instrument, or such renPwals thereof, or other or new obligations in its place or in lieu thereof, as iE such 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 information coming to the ~ >>otice or knowledge of the Surety conce~ing or affecting its rights or liability under any sucn instrument by it so executed. or the Indemnitors rights or liab:lities hereunder, notice oE a~l such being hereby espressly waived. The Surety shall have exclusive right for itself, and fo_ the Indemnitors, to decide and determine whether any claim, demand, liabili:y, sui:. cion, order, judgment or adjudication, made or brought against the Surety and any of the In3emnitors oa any inst:ument, i~intly or severally, shall or shall not be defen~ed, tried or appealed, and its decision shall be Snal, conclusive an3 binding u~ on the Indemnitors, and any order, judgment or adjudication made, entered or af6r~ed as a result thereof, or any loss. costs, chatge, expense or liability thereby incurred, sustaiaed or paid sball be borne and paid by-the Indemnitors immediately t~pon demand by the Surety, and the Indemnitors especially consent thereta ~ 7. In the event the Surety executes su~h instrument or instruments with co-sureties or reinsures any portion of such in- strument or instru~ents with Reinsurinc~ Companies, or procures the execution of such instrument or instruments, the Indem- nitors agree that all of the terms and cona:::~ns of this agreement shall apply and operate for the benefit of the Surety, the ~ co-;ureties, the Reinsuring Companies a.:3 the procured sureties, as their interest may appear, and any premium paid thercto or therefor by the Surety orz such instrument or instruments s1-.all be as agent of and foc the account oE the Indemnitors. ~ 8. If any such instrument is conditioned for the pe:formance oE a public works contract with the Linited States or any s;~te or political sub-division thereof, the laws of which prohibit the assignment of the contract price, or any part thereof, the Indemnitorf' co`reeant and a~ree that all payments received for a; on account of said contract shall be held as a trust `und in wbich the Surety has an interest, for the payment of obligations incurred for labor, materials and services furnished in the prosecution of the work pro~ided in said contract or any authorized extension 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 rig~t to take possession of all or any part of the work of any contrac:, whenever, in its sole opiaion, such action is desirable or necessary, and at the exper.se of the Indemnitors to complete, or cause the completion of, any such work, or re-let, or consent to the re-letting or - ~ t o '-'ion cf, such contract. BOOK 161 Pa~ 83 _ .z- n~~"_a , ~~-=;.5 ~ ~ ,r.~-: ' - , f , ~ ~ ~ . ~