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Home My WebLink AboutWPO200400057 Bond 2006-01-12 JAN-10-2005 16:56 FROM:'' TO:914349775109 P.7/12 WATER PROTECTION PERFORMANCE BOND WITH SURETY The undersigned, Deep Acres LLC • , Principal(s), and.Lexon -Insurance Company , Surety, are held and finely bound to the County of Albemarle, Virginia(hcreina+t.a, the"County"),in the penal sum of Eighty nine thniisrand And GO/100. for which payment we jointly and severally bind ourselves and our heirs, executors,administrators, successors and assi 1.s. Of this total penal surngs ythousand and 00/LO(I&the sum required pursuant to Albemarle Comfy Code § 17- 207(erosion and sediment control);Twenty nine thouemnd &00/iliMe sum require pursuant to Albemarle County Code § 17-306 (stormwater management and water quality). The condition of this obligation is such.iha.t the Principal(s) is obligated to satisfy the ' tcuus and conditions of Water Protection Ordinance Application No(s).WP0-2004-00056 • WPO-2004-00057 (hereinafter,the "Plan"), which Plan and all specifications which arc part thereof are incorporated herein by reference, and all applicable requirements of Article II (Erosion and Sediment Control and/or Article IJr(Storrnwatcr Management and Water Quality) of Chapter 17 (Water Protection)of the Albemarle County Code.(hereinafter,"Chapter 17"), including any handbook and state law identified and.referenced therein,related to thc development of the project described as Old Ballard Farm Subdivision all of which is collectively referred to herein as the "work." If the Principal(s), his/her/their heirs,executors, administrators, successors,or, assigns, well and truly perform the work on or before the 11 th day of January , 2006 , without variance,required thereby,then this obligation shall be void,otherwise it shall remain in full force and effect;provided that if, at any time during the term hereof, the Principal(s) shall commit and/or suffer nr permit thc commission nr existence of any act, omission, or condition which shall constitute a violation of the Plan and/or Chapter 17,and fails, after proper notice of such violation is given by the Program Authority pursuant to Chapter 17, to take timely corrective action as specified in.the notice, then the Principal(s) shall be in default of the terms of this Bond. Page 1 of 4 Received Time Jan . 10. 3 ;53PM • JAN-10-2005 16:56 FROM: TO:914349775109 P.8/12 In the event of a default by the Principal(s) as described herein, the County of Albemarle, through its County Engineer, shall provide written notice of such default to the Principal(s) and the Surety. if the County Engineer determines, iii his sole discretion, that the default does not create an imminent or potentially imminent threat to the public health Of safety, then, in the event of such default and written notice, the Surety shall have either of thc following options: 1. Within twenty-one(21)days alter receipt of the default notice, the Surety shall pay over to the County the entire sum of the bond or such lesser amount as the County Engineer may determine in his sole discretion, and thereafter be relieved of further liability under this Bond. If this option is selected by the Surety, then the County shall take over and relet all or any part of the required work, and will complete the same to the extent of available funds. The cost and expenses of completing the work shall include all of the County's actual costs for the work and its administrative costs. if these finds are insufficient to complete the work,then the County may proceed against the Principal(s) for the difference. if there arc any funds remaining that are not necessary for completion of the work,the County will remit this excess to the Surety after work is completed; or 2. Within twenty-one(21)days after receipt of the default notice, the Surety shall provide written notice to the County that it will assume the obligations of the Principal(s) and complete the work required to satisfy the terms and conditions of this Bond within one hundred eighty(180)days of the County Engineer's notice or such other term approved by the County Engineer,and thereafter be relieved of further liability under the terms of this Bond. If this option is selected by the Surety,but it then fails to faithfully perform all or any part of the required work,or if it unnecessarily delays completing all or any part of the required work, then: (a)upon written demand by the County Engineer,the Surety shall pay over to the County by the date specified in the written demand the entire sum of the hond or such lesser amount as the County Engineer may- determine in his sole discretion; and (h)the County shall take over and relet all or any part of the required work,and complete the came a.t the expense of the Principal(s)and . the Surety,who shall be jointly and severally liable to the County for the costs and expenses of completing the work, which shall include all of the County's actual costs for the work and its administrative costs;or bring suit, action or proceeding to enforce Page 2 of 4 Received Time Jan . 10 . 3°53PM • JAN-10-2005 16:56 FROM: TO:914349775109 P.9'12 • • the provisions of this bond. If thc bond funds arc insufficient to complete the work, then the County may proceed against the Principal(s) and the Surety for the difference. If the County Engineer determines, in his sole discretion,that the default creates an imminent or potentially imminent threat to thc public health or safety, then options (1) and (2) described above shall not be available to the Surety. The County Engineer shall provide written notice of such default and the imminent or potentially imminent threat to the public health or safety. The Surety shall, immediately upon receipt of such written notice from the County Engineer,pay to the County the entire sum secured under this Bond, or such lesser sum specified in the written notice. The County shall apply the proceeds to complete the required work and cover its associated administrative costs. If these funds are insufficient, the County may proceed against the Principal(s) for the difference. If there are any funds remaining that arc not necessary for completion of the work,the County will remit this excess to the Surety after work is completed. Nothing in this Bond shall be construed as affecting, impairing, or diminishing the obligation of the'Principal(s) to complete and perform the work guaranteed under this Bond. Nothing in.this Bond shall be construed as creating an obligation upon the County to pay for the completion and/or correction of the work guaranteed under this Bond. Nothing in this Bond shall be construed as creating liability upon the Surety that exceeds the total penal sum of this Bond. The Surety,for value received, stipulates and agrees that no change, extension of time, alteration, or addition to the Plan or Chapter 17 shall in any way affect its obligation on this Bond. and it hereby waives notice of any change, extension of time, alteration, or addition. In witness whereof, the parties have caused this instrument to be executed this 11th day of January , 2005 _ Page 3 of 4 .Received Time Jan . 10. 2:53PM • JAN-10-2005 17:22 FROM: TO:914349775109 P.2,3 PRINCIPAL, fppp Acres, LLC ..000...„..f.7Th------ BY: x 4 itfd4ii / ' . . pleas i v and V nt name below) Michael A. Gaffney Alexander M. Toomy TITLE: Manager Manager ADDRESS: 1758-A Worth Park — Charlottesville, VA 22911 PHONE: 434-978-1884 SURETY(Must b 'gn: i y a Vir,,, a 'eside t Agent of Surety-attach Power of Attorney) Lexo• It . .nc/ o,rpany BY: Lai (Plcasc sign above an print nsnne below) Patrick C. Sweet, Attorney-in-fact A)DRESS: 328 South Main St Harrisonburg, VA 22801 PHONE: 540-437-1300 BOND NO: 1005034 ADDRESS OF SURETY'S HOME OFFICE: 1919 S Highland Avenue, Buildink A. Suite 300 Lombard TL 60148-4979 _ Approved as to Form: _ "Li' •/ • 1 - It - os _ '01 ty ./f ley Date Accc\ ccs: g ' ail f1(-ass Coon - .gincer/ u orized A en.t Date Rev.4/224 Page 4 oi'4 Received Time Jan . 10. 4; 20PM • POWER OF ATTORNEY Lx - 004835 Lexon Insurance Company KNOW ALL MEN BY THESE PRESENTS, that LEXON INSURANCE COMPANY, a Texas Corporation, with its principal office in Louisville, Kentucky, does hereby constitute and appoint: Patrick C. Sweet its true and lawful Attorney(s)-In-Fact to make, execute, seal and deliver for, and on its behalf as surety, any and all bonds, undertakings or other writings obligatory in nature of a bond. This authority is made under and by the authority of a resolution which was passed by the Board of Directors of LEXON INSURANCE COMPANY on the 1st day of July, 2003 as follows: Resolved,that the President of the Company is hereby authorized to appoint and empower any representative of the Company or other person or persons as Attorney-In-Fact to execute on behalf of the Company any bonds, undertakings, policies, contracts of indemnity or other writings obligatory in nature of a bond not to exceed$2,000,000.00,Two Million Dollars, which the Company might execute through its duly elected officers, and affix the seal of the Company thereto.Any said execution of such documents by an Attorney-In-Fact shall be as binding upon the Company as if they had been duly executed and acknowledged by the regularly elected officers of the Company. Any Attorney-In-Fact, so appointed, may be removed for good cause and the authority so granted may be'revoked as specified in the Power of Attorney. Resolved, that the signature of the President and the seal of the Company may be affixed by facsimile on any power of attorney granted, and the signature of the Vice President, and the seal of the Company may be affixed by 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. Any such power so executed and sealed and certificate so executed and sealed shall,with respect to any bond of undertaking to which it is attached, continue to be valid and binding on the Company. IN WITNESS THEREOF, LEXON INSURANCE COMPANY has caused this instrument to be signed by its President, and its Corporate Seal to be affixed this 2nd day of July, 2003. JAN LEXON INSURANCE COMPANY Jr---....t, �,p TEXAS �,� 7( INSURANQE .3 1 \�+'i COMPANY j BY (- e. 77- � •••.•« David E. Campbell President ACKNOWLEDGEMENT On this 2nd day of July,2003,before me,personally came David E.Campbell to me known,who being duly sworn,did depose and say that he is the President of LEXON INSURANCE COMPANY, the corporation described in and which executed the above instrument; that he executed said instrument on behalf of the corporation by authority of his office under the By-laws of said corporation. 'OFFICIAL SEAL' LYDIA J.DEJONG NOTARY PUBLIC STATE OF L N O S t MY COMtirllSSlofrf EXPIRES 1/12/2007 ci.—: /J gl---9 -) Lydia J. DeJong CERTIFICATE Notary Public I, the undersigned, Secretary of LEXON INSURANCE COMPANY,A Texas Insurance Company, DO HEREBY CERTIFY that the original Power of Attorney of which the foregoing is a true and correct copy, is in full force and effect and has not been revoked and the resolutions as set forth are now in force. Signed and Sealed at Lombard, Illinois this 11th Day of Jabuary , 20 05 r A : ` 11:1 01 TEXAS i ?cf. INSURANCE 4D' aritedi ill-1-L.til"" , COMPANY / ' Donald D. Buchanan '•N«••«.• Secretary