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HomeMy WebLinkAbout21-80 RESOLUTIONRESOLUTION NO. a ka'O • A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A CONTRACT WITH JERRY SWEETSER CONSTRUCTION COMPANY FOR THE RELOCATION OF WATER MAINS AT THE INTERSECTIONS OF U.S. HIGHWAY NO. 71 WITH CATO SPRINGS ROAD AND U.S. HIGHWAY NO. 71 WITH ARKANSAS HIGHWAY 62 WEST. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF FAYETTEVILLE, ARKANSAS: That the Mayor and City Clerk are hereby authorized and directed to execute a contract with Jerry Sweetser Construction Company for the relocation of water mains at the intersections of U.S. Highway No. 71 with Cato Springs Road and U.S. Highway No. 71 with Highway 62 West at a total contract price of $58,104.55. A copy of the contract authorized for execution hereby is attached hereto marked Exhibit "A" and made a part hereof. PASSED AND APPROVED this day of 1980. ATTEST: .A a I 011,0dc (SEAL) LERK APPROVED :471( / MAYOR 00 so 14,00 woe Gen. 348 (1-73) sTA 1:" �YL}'�;toi:+.it::re;x/ t�'� At i,Wvu6vl%%� St: tF.. }�{f;;;ii tkii.. , liFji LJi Sail?I is ;?F itji??:H3Y1�i zj,, ii .?s f tC , ' rr = RTIFICATE OF INSURANCE This is to certify that the policies listed in this Certificate have been issued to the Named Insured by the Company designated below. This Certificate des not amend, extend or otherwise alter the terms, conditions or exclusions of such policies. Issued To (Name and Address) I— City of Fayetteville Fayetteville, AR 72701 u P. Named Insured and Address: Jerry D. Sweetser, Inc. P.O. Box 4217 Policy Number Faye Policy Terni eville, AR 72701 Type of Insurance Limits of Liability_ Bodily Injury Property Damage' 393900664887 10/23/79 8 Workmen's Compensation Arkannao Stat tory lommflmilitill $ ,000 Each Person Employers' Liability $ , 000 Each Accident +;;• $ , 000 Medical - Each Person Comprehensive Automobile $ ,000 Each Person BAP1024499 10/30/79-80 Liability $ , 000 Each Occurrence $ , 000 Comprehensive General 500 $ , 000 Each Occurrence $ .000 '�- Liability a500� Aggregate Operations $ 500 , 000 := AggregateProtective $ 000 1CCC81437 10/30/79-80 Including Blanket ❑ Contractual Liability $ , 000 Aggregate Completed Operations and Products $ , 000 ,T Manufacturers' and $ 1000 Each Occyrrence $ , 000 . Contractors' Liability —` Aggregate $ , 000 Owners', landlords' and $ , 000 Each Occurrence $ , 000 Tenants' Liability ' 1 Aggregate $ , 000 Completed Operations and $ , 000 Each Occurrence $ , 000 Products Liability $ , 000 Aggregate $ , 000�a $ 0000 Each Occurrence $ , 000 : g', "' a Contractual Liability Aggregate $ , 000 €,- Comprehensive Excess $ , 000 Each Occurrence Combined Personal $ , 000 Aggregate Injury andIndemnity Property DamagePE esr Description and The Company but assumes no _ UNITED ❑ FIDELITY location of designated responsibility STATES AND operations and automobiles covered: below will make every effort to notify the holder of this Certificate of any material change in or cancellation of these policies, for failure to do so. FIDELITY AND GUARANTY COMPANY GUARANTY INSURANCE UNDERWRITERS, INC. - -.. By a� Date February 7, 1980 ..,,. m , .. �, . \v t - - - +, .. Cr - "� t ' -. l'F . y 'a . .:a 1ii..till a!/? !.�':ftl\t/t..:+1�,....RiL�•-..l\vl.�'.i41/.:u?,4v/{.?li'SJ...:tii4�4^7,...t\\+UlF, ...lVle7...iil\fin '...UV/a/ A1v/<? :o.'1/f + %e,\. ✓(Fc:e�Y1Ft.... u^ J/. .k\}J/ft .5�'.-.v Gen. 348 (1-73) C J ARKANSAS PERPOY"_1CCr AND PAYMENT BOND (1.1-60-I Arkansas Statutes) KNOW ALL MEN BY THESE PRESENTS: That we (1) Jerry D. Sweetser, Inc. a (2) Corporation United States Fidelity (3) and Guaranty Co. of , hereinafter called "Principal" and Baltimore of• Maryland hereinafter called the "Surety", are held and firmly bound unto (4) City of Fayetteville, Arkans%sL,reinafter called Fifty -Eight Thousand, One hundred four "Owner" In the penal sum of and 551100 dollars (S 58,104.95 in lawful money of the United States, for the payment of which sum well and truly to be made, said principals and Surety bind themselves, their heirs, administrators, executors, successors and assigns, jointly and severally, by these presents. THE COI;DITIO:: OF THIS OSLIGATIQN is such that whereas, the Princival entered into a certain contract with the Owner, dated the 7th day of February , 19 80, a copy of which is attached and made a cart hereof for the construction of: water relocation Highway 71 Bypass and Highway 265 Interchange Water Relocation, Fayetteville, Arkansas in accordance with plans and specifications prepared by City r. NOW, THEREOPRE, if the Principal shall well, truly and faithfully perform its duties, all the undertakings, covenants, terms, conditions, and agree- ment of said contract during the original term thereof, and any extensions thereof which may be granted by the Omer, with or without notice to the Surety, and if he shall satisfy all claims and demands incurred under such contract, and shall fully indemnify and save harmless the Owner from all costs and damages which it may suffer by reason of failure to do so, and shall reimburse and repay the Owner all outlay and expense which the Owner may incur in making good any default, and shall promptly make payment to all persons, firms, subcontractors and corporations furnishing material for or performing labor in the prosecution of the work provided for in such contract, any any authorized cxtension.or modification thereof, all amou.it:, due for, but not limited to, materials, lubricants, oil, gasoline, coal and coke, repair on machinery, equipment and tools consumed or used in connection with the construction of said work, fuel oil, camp equipa,n , food for men, feed for animals, premium for bonds and liability and workman's compensation insurance, rentals on machinery, equipment and draft animals; also for taxes or payments due the State of Arkansas or any political subdivisions thereof which shall have arisen on account of, or in connection with, the wages earned by workmen covered by the bora; and for all labor performed in such work whether by subcontractor or otherwise, then this obligation shall be' void, otherwise to remain in full force and effect. 7 ft The su"dt•_ agrees t' the principal the terns; of this bona shall cover the payment by of not less than the preva:ling hourly rote of .:.age, as determined by the Arkansas Denarta-nt of Labor or U. S. Secretary of Labor, whichever is greater, to all workmen. performing work under the contract. PROVIDED FURTHER, that the said Surety, for value received, hereby stipulates and agrees that no change extension of tine, alternation, or addition to the terms of the contract or to the work to be per_ormed thereunder of the specifications accompanying the same, shall in any wise affect its obligation on this bond, and it does hereby waive notice of such change, extension of time, alteration or addition to the terms of contract as to the work or to the specifications. PROVIDED FURTHER, that no final settlement between the Owner and the contractor shall abridge •the right of any beneficiary hereunder, whose claim may be unsatisfied. Iu nT::ESS wurrrcr, this instrument is executed in six (6) countermar each of which shall be deemed an original, this 7th day of February , 19 80 . ATTEST: S Si/ACEA.40.vto TAEY (PRI'AL Jer D. Sweetser- (P e.AL) (SEAL) ATTEST: SECRETARY (SURETY) (SEAL) President P 0 Rnx 479 Fayettevi (ADDRESS) United States Fidelity (SURETY) BY ATTORiNEY-IN-FACT Neil P.O. ADDRESS WITNESS AS TO ATTOSNEYjFACT A. P. Eason, Jr. P.O. Bbx 4217, Fayetteville, AR ADDRESS .01 & Guaranty Co. \y11 -11,r,, Danner / \cat ^' '^ ti Box 4217, Fayettevild A /^ , CERTIFIED COPY GENERAL POWER OF ATTORNEY No 83788 Know all Men by these Presents: That UNITED STATES FIDELITY AND GUARANTY COMPANY, a corporation organized and existing under the laws of the State of Maryland, and having its principal office at the City of Baltimore, in the State of Maryland, does hereby constitute and appoint Neil Danner of the City of Fayetteville its true and lawful attorney in and for the State of , State of Arkansas Arkansas for the following purposes, to wit: To sign its name as surety to, and to execute, seal and acknowledge any and all bonds, and to respectively do and perform any and all acts and things set forth in the resolution of the Board of Directors of the said UNITED STATES FIDELITY AND GUARANTY COMPANY, a certified copy of which is hereto annexed and made a part of this Power of Attorney; and the said UNITED STATES FIDELITY AND GUARANTY COMPANY, through us, its Board of Directors, hereby ratifies and confirms all and whatsoever the said --tit'' `.'Y`'" Neil Danner o V $" lawfnlly,Bo in AC -premises by virtue of these presents. ,k `-fin tinercIThereof, the said UNITED STATES FIDELITY AND GUARANTY COMPANY has caused this instrument to be Y ,a ledaw��it•I"N��te rporraate seal, duly attested by the signatures of its Vice -President and Assistant Secretary, this 25th day of �' �"L^i' 1 May , A. D. 1973 'rr%�rAti'� UNITED STATES FIDELITY AND GUARANTY COMPANY. (SEAL) STATE OF MARYLAND, BALTIMORE CITY, )} ss: (Signed) (Signed) By Bertram W. Sealy, Jr. David L. Royer Vice -President. Assistant Secretary. On this 25th day of May , A. D. 1973 , before me personally came Bertram W. Sealy, Jr. , Vice -President of the UNITED STATES FIDELITY AND GUARANTY COMPANY and David L. Royer , Assistant Secretary of said Company. with both of whom I am personally acquainted, who being by me severally duly sworn, said that they resided in the City of Baltimore, Maryland; that they, the said Bertram W. Sealy, Jr. and David L. Royer were respectively the Vice•President and the Assistant Secretary of the said UNITED STATES FIDELITY AND GUARANTY COMPANY, the cor• poration described in and which executed the foregoing Power of Attorney; that they each knew the seal of said corporation; that the seal affixed to said Power of Attorney was such corporate seal, that it was so fixed by order of the Board of Directors of said corpora. tion, and that they signed their names thereto by like order as Vice -President and Assistant Secretary, respectively, of the Company. My commission expires the first day in July, A. D. 19. 74..... (SEAL) STATE OF MARYLAND } BALTIMORE CITY, I, Robert H. Bouse , Clerk of the Superior Court of Baltimore City, which Court is a Court of Record, and has a seaL do hereby certify that Herbert J. Aull , Esquire, before whom the annexed affidavits were made, and who has thereto subscribed his name, was at the time of so doing a Notary Public of the State of Maryland, in and for the City of Baltimore, duly commissioned and sworn and authorized by law to administer oaths and take acknowledgments, or proof of deeds to be recorded therein. I further certify that I am acquainted with the handwriting of the said Notary, and verily believe the signature to be his genuine signature. In Testimony Whereof, I hereto set my hand and affix the seal of the Superior Court of Baltimore City, the same being a Court of Record, this 25th day of May (SEAL) (Signed) Set. (Signed) Herbert J. Aull Notary Public. FS 3 (9.67) , A. D.1973 Robert H. Bouse Clerk of the Superior Court of Baltimore City. 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WATER RELOCATION WORK ORDER # 2634 January 16, 1980 CITY OF FAYETTEVILLE FAYETTEVILLE, ARKANSAS CITY ENGINEERS' OFFICE INDEX ADVERTISEMENT FOR BIDS 1 BID BOND 2 PROPOSAL FOR SCHEDULE I 4 ARKANSAS PERFORMANCE AND PAYMENT BOND 7 CONTRACT AGREEMENT 10 INSTRUCTIONS TO BIDDERS I.T.B.-1 GENERAL CONDITIONS OF THE SPECIFICATIONS G. C. - 1 DETAILED SPECIFICATIONS PART I CONTRACT STIPULATIONS D. S. - 1 DETAILED SPECIFICATIONS PART II CONSTRUCTION SPECIFICATIONS D. S. - 3 DETAILED SPECIFICATIONS PART III MATERIALS D. S. - 14 • 1-44 • ADVERTISEMENT FOR BIDS Project No. 2634 City of Fayetteville, Arkansas R, . (Owner) Separate sealed bids for Water line relocation at Highway 71 Bypass and 265 Interchange will be received by Sturman Mackey at the office of Purchasing & Budgeting - City Administration Building until 10:00 o'clock (A.M. February 7, 19 80, and then at said office publicly opened and read aloud. The Information for Bidders, Form of Bid, Form of Contract, Plans, Specifications, and Forms of Bid Bond, Performance and Payment Bond, and other contract documents may be examined at the following: City Engineer's Office - City Administration Building 113 West Mountain Street - Fayetteville, Arkansas Copies may be obtained at the office of located at 113 West Mountain The City Engineer upon payment of $ for each set. Any unsuccessful bidder, upon returning such set promptly and in good condition, will be refunded his payment, and any non -bidder upon so returning such a set will be refunded $ The owner reserves the right to waive any informalities or to reject any or all bids. Each bidder must deposit with his bid, security in the amount, form and subject to,the conditions provided in the Information for Bidders. Attention of bidders is particularly called to the requirements as to conditions of employment to be observed and minimum wage rates to be paid under the contract. No bidder may withdraw his bid within 30 days after the actual date of the opening thereof. (Date) Published in Northwest Arkansas Times on January 23 and 30 of 1980. • 1 • • • BID BOND KNOW ALL AEN BY THESE PRESENTS, that we, the undersigned, as Principal, and as Surety, are hereby held and firmly bound unto as owner in the penal sum of for the payment of which, well and truly to be made, we hereby jointly and severally bind ourselves, our heirs, executors, administrators, successors and assigns. Signed this day of 19 The condition of the above obligation is such that whereas the Princical has submitted to certain bid, attached hereto and hereby made a part hereof to enter into a contract in writing, for the a NOW THEREFOR, (a) If said Bid shall be rejected, or in the alternate. (b) If said Bid shall be accepted and the Principal shall execute and deliver a contract in the Form of Contract attached hereto (properly completed in accordance with said Bid) and shall furnish a bond for his faithful performance of said contract, and for the payment of all persons performing labor or furnishing materials in connection therewith, and shall in all other respects perform the agreement created by the acceptance of said Bid. then this obligation shall be void, otherwise the same shall remain in force and effect; it being expressly understood and agreed that the liability of the Surety for any and all claims hereunder shall, in no event, exceed the penal amount of the obligation as herein stated. The Surety, for value received, hereby stipulates and agrees that the obligations of said Surety and its bond shall be in no way impaired or affected by any extension of the time within which the Owner may accept such 3id; and said Surety does hereby waive notice of any such extension. 2 1 IN WITNESS WHEREOF, the Principal and the Surety have hereunto set their hands and seals, and such of them as are corporations have caused their corporate seals to be hereto affixed and these presents to be signed by their proper officers, the day and year first set forth above. Principal Surety SEAL BY: • • • 4 PROPOSAL FOR SCHEDULE I (A UNIT PRICE CONTRACT) Place f Date Proposal of (, L ,(A]4Lo / aa/c/�orpo/r tion* organized d existing under the laws of the State of l i[/2�/ e,fL> ,land qualified to do business in the State of Arkansas: a Partnership* consisting of an Individual* trading as TO THE CITY OF FAYETTEVILLE, ARKANSAS: The bidder in compliance with your invitation for bids for the construction of Highway 71 Bypass and Highway 265 - Water Relocation • having examined the Plans and Specifications with related documents and the site of the pro- posed work, and being familiar with all the conditions surrounding the work, including the availability of materials and labor, hereby proposes to furnish all labor, material, and supplies required to be furnished, and to construct the project in accordance with the Contract Documents, and at the unit prices stated below. These prices are to cover all expenses incurred in performing the work required under the Contract Documents, of which this proposal is a part. Bidder hereby agrees to commence work under this contract on a date to be specified in a written "Word Order" of the Engineer, and to fully complete the project within 25 consecutive calendar days. Bidder acknowledges receipt of the following addenda: 2710l * Fill out applicable blank WATER RELOCATION U.S. 71 BYPASS & [IWY 62 INTERCHANGE AND U.S'. 71 BYPASS AND CA'I'0 SPRINGS ROAD INTERC[IANGE /t r 1 ITCH NO. SCHEDULE "B" ESTIi•U1TED QUANTITY AND DESCRIPTION UNIT** PRICE 1. TOTAL 385 L.F. 12" D.I. Pipe Class 50 Rolla s X73 s e?, I of 2. 240 L.F. 24" Steel Encasement Pipe Dolla $ , roo $ o 3. 4 Each 8" Tapping Sleeve and Valve s 3 09‘.(x) 4. 1 Each 12" Gate Valve w/box Dollars 1 Each 8" Gate Valve w/box s 6 /2)•06 $ 6/aid jaatteiLlei o lars $ el4aDi) 6. 40 L.F. Highway Bore 24" Steel Encasement Dollars $ 7b� GO $ 4/C'a) (/U 7. 30 Tons of SB -2 Dollars $ 046/ $ 306 /) deadia a, ; Co,friteLi Total amount of bid 5a $ k9 7 os • WATER - RELOCATION - U.S. 71 BYPASS AND CATO SPRINGS ROAD SCHEDULE "A" 1. 2 ITEM NO. ESTIMATED QUANTITY AND DESCRIPTION UNIT** PRICE TOTAL 1610 L.F. 12" D.I. Pipe Class 50 -; 'Guo 1 * (See note below) i•Ltiar 4141; ) Gam" Dollar $167:5 $ ' SS D 120 L.F. Highway Bore Dollars 24" Steel Encasement $ 7000 $ ForflDOyOD 40 L.F. 24" Steel Encasement Dollars pipe $ 61;00 'Paid F 4. 1 Ea 8" Gate Valve w/Box ollars $ 44 $ 341°16° 5. 1 Ea 12" Gate Valve w/Box Dollars $ ,UD $ l /O,UU �P.ec 6. 50 Tons of SB -2 Dollars 1 Total amount of Bid l $ ����(l/t� V i/ * NOTE: Fittings, bedding SB -2, and solid rock excavation shall all be included in the unit price of pipe. ** Unit prices to be shown in words and figures. In case of discrepancy amount shown in words will govern. 5 The above unit prices shall overhead, profit, insurance, etc. kinds called for. include all labor, materials, bailing, shoring, , to cover the finished work of the several Bidder understands that the Owner reserves the right to reject any or all bids and to waive any informalities in the bidding. The Bidder agrees that this bid shall be good and may not be withdrawn for a period of Sixty (60) calendar days after the scheduled closing time for receiving bids. Upon receipt of written notice of the acceptance of this bid, bidder will execute the formal contract attached within ten (10) days and deliver the Surety Bond or Bonds as required by Paragraph 8 of the General Conditions. The bid security attached in the sum of is to become the property of the Owner in the event the contract and bond are not executed within the time above set forth, as liquidated damages for the delay and additional expense to the Owner caused thereby. Respectfully Submitted: ,r'''— Stay; if bid is by a corporation „ PO 6 /7/n q Address and Zio Code) l ARKANSAS PERFORMANCE AND PAYI.E3NT BOND (14-604 Arkansas Statutes) KNOW ALL €N BY THESE PRESENTS: That we (1) a (2) , hereinafter called "Principal" and (3) of State of hereinafter called the "Surety", are held and firmly bound unto (4) , hereinafter called "Owner" in the penal sum of dollars ($ ), in lawful money of the United States, for the payment of which sum well and truly to be made, said principals and Surety bind themselves, their heirs, administrators, executors, successors and assigns, jointly and severally, by these presents. THE CONDITION OF THIS OBLIGATION is such that whereas, the Principal entered into a certain contract with the Owner, dated the • day of , 19 , a copy of which is attached and made a part hereof for the construction of: NOW, THEREOFRE, if the Principal shall well, truly and faithfully perform its duties, all the undertakings, covenants, terms, conditions, and agree- ment of said contract during the original term thereof, and any extensions thereof which may be granted by the Owner, with or without notice to the Surety, and if he shall satisfy all claims and demands incurred under such contract, and shall fully indemnify and save harmless the Owner from all costs and damages which it may suffer by reason of failure to do so, and shall reimburse and repay the Owner all outlay and expense which the Owner may incur in making good any default, and shall promptly make payment to all persons, firms, subcontractors and corporations furnishing material for or performing labor in the prosecution of the work provided for in such contract, any any authorized extension or modification thereof, all amounts due for, but not limited to, materials, lubricants, oil, gasoline, coal and coke, repair on machinery, equipment and tools consumed or used in connection with the construction of said work, fuel oil, camp equipment, food for men, feed for animals, premium for bonds and liability and workmen's compensation insurance, rentals on machinery, equipment and draft animals; also for taxes or payments due the State of Arkansas or any political subdivisions thereof which shall have arisen on account of, or in connection with, the wages earned by workmen covered by the bond; and for all labor performed in such work whether by subcontractor or otherwise, then this obligation shall be void, otherwise to remain in full force and effect. 7 • The Surety agrees the terms of this bond shall cover the payment by the principal of not less than the prevailing hourly rate of wages as determined by the Arkansas; Department, of Labor or U. S. Secretary of Labor, whichever is greater, to all workmen performing work under the contract. PROVIDED FURTHER, that the said Surety, for value received, hereby stipulates and agrees that no change, extension of time, alternation, or addition to the terms of the contract or to the work to be performed thereunder of the specifications accompanying the same, shall in any wise affect its obligation on this bond, and it does hereby waive notice of any such change, extension of time, alteration or addition to the terms of the contract as to the work or to the specifications. PROVIDED FURTHER, that no final settlement between the Owner and the contractor shall abridge the right of any beneficiary hereunder, whose claim may be unsatisfied. IN WITNESS WHEREOF, this instrument is executed in six (6) counterparts, each of which shall be deemed an original, this day of , 19 . ATTEST: (PRINCIPAL) BY SECRETARY (PRINCIPAL) (TITLE) (SEAL) (ADDRESS) WITNESS AS TO PRINCIPAL (SURETY) BY ADDRESS ATTORNEY-IN-FACT ATTEST: SECRETARY (SURETY) (SEAL) WITNESS AS TO ATTORNEY-IN-FACT ADDRESS ADDRESS 8 NOTE: (1) (2) (3) (4) (5) (6) (7) Date of Bond must not be prior to date of Contract. Correct name of Contractor A Corporation, a Partnership, or an individual, as case may be Correct name of Surety Correct name of Owner If Contractor is Partnership, all partners shall execute bond This bond must be filed with the Circuit Court of the County where the work is to be performed, prior to the start of const- ruction Must be executed by Arkansas Local Resident Agency for Surety 9 CONTRACT AGREEMENT 1. This Contract;and.Agreement, made and entered into this 18th day of March , 1980 , by' and between the City of Fayetteville, Arkansas, Party of the First Part, acting through its' duly authorized representative, and Sweetser Construction Company, Inc. Party of the Second Part: WITNESSETH: That for and in consideration of the payments to be made as hereinafter set forth, the Party of the Second Part hereby agrees to furnish all tools, labor, equipment, materials, and supplies required to be furnished and to construct the improvements designated as Hwy 71 Rypaas & Hwy 265 Interchange Water Relo. for the City of Fayetteville, Arkansas, in exact accordance with the Plans on file at the office of the Party of the First Part, and Specifications, Proposals, Stipulations, and Special Provisions attached hereto and made a part hereorrascfully 1. as though copied herein, under the direct supervision and to t g, entired- satisfaction of the Party of the First Part and in accordan$ble4.hrrthe laws of the State of Arkansas. `",At- n- 2. It is further agreed and understood by and between:ithe parties , hereunto that the Party of the First Part agrees to pay and�the�_Party the Second Part agrees to accept as full and final compensation for all? work done under this agreement, the unit prices named in the Proposal which is hereto attached, such payment to be made in lawful money of the United States, at the time and in the manner set forth in the Specifications. 3. The Party of the Second Part agrees, for the consideration above expressed, to begin and complete the work within the time specified in the Proposal. If the Party of the Second Part shall fail to complete the work in the time specified, he shall pay to the Party of the First Part, as liquidated damages, ascertained and agreed, and not in the na,.ure of a penalty, the amount specified in the Proposal for each day delayed, for each Schedule delayed, which shall be deducted from the final amount to be paid under the contract, provided that extensions of time with waiver of liquidated damages may be granted as provided for in the Specifications. 4. The Party of the Second Part agrees to furnish a Bond, with an approved Surety thereon, guaranteeing the performance of this Contract, as required by the laws of the State of Arkansas, and for not less than one hundred (100) percent of the amount of this contract. Said Bond shall be conditioned on full and complete performance of this Contract and acceptance by the Water and Sewer Department for the payment of all labor and materials entering into or incident to the proposed improvements and shall guarantee the work against faulty workmanship or materials for a period of one (1) year after completion. The Surety on said Bond shall 10 be a Surety Company of financial resources satisfactory to the Party of the First Part, and authorized to do business in the State of Arkansas. 5. The Party of the Second Part agrees also to carry Public Liability Insurance, Property Damage Insurance, and Workmen's Compensation Insurance in amounts as required by these Specifications. /( WITNESS OUR HANDS THIS /O 1- DAY OF 7dAc- WITNESS: 611 SEAL (ifany) CITY OF FAYETTEVILLE FAYETTEVT=1E, ARKANSAS') i By I/2(e( &-nparicfrE By f WITNESS: Affix Corporate Seal here (if any) , 19K). RCTOR �6%V�LC�� Cr NAME AND T` 17U_��77 BUSI ESS ADDRESS 11