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CONSTRUCTION PAYMENT BOND

KNOW ALL MEN BY THESE PRESENTS: that

(Name of Contractor)

(Address of Contractor)

a , hereinafter called Principal,
(Corporation, Partnership or Individual)

and

(Name of Surety)

(Address of Surety)

hereinafter called Surety, are held and firmly bound unto

(Name of Owner)

(Address of Owner)
hereinafter called OWNER and unto all persons, firms, and corporations who or which may furnish
labor, or who furnish materials to perform as described under the contract and to their successors

and assigns, in the total aggregate penal sum of Dollars,

($ ) in lawful money of the United States, for the payment of which sum well and

truly to be made, we bind ourselves, our heirs, executors, administrators, successors, and assigns,
jointly and severally, firmly 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

20 , a copy of which is hereto attached and made a part hereof for the construction of:

NOW, THEREFORE, if the Principal shall promptly make payment to all persons, firms, and
corporations furnishing materials for or performing labor in the prosecution of the WORK provided
for in such contract, and any authorized extension or modification thereof, including all amounts
due for materials, lubricants, oil, gasoline, coal and coke, repairs on machinery, equipment and
tools, consumed or used in connection with the construction of such WORK, and for all labor cost
incurred in such WORK including that be a subcontractor, and to any mechanic or material man
lienholder whether it acquires its lien by operation of State or Federal Law; then this obligation
shall be void; otherwise to remain in full force and effect.

PY - 1 of 3

PROVIDED, that beneficiaries or claimants hereunder shall be limited to the subcontractors, and
persons, firms, and corporations having a direct contract with the PRINCIPAL or its
SUBCONTRACTORS.

PROVIDED FURTHER, that the said Surety for value received hereby stipulates and agrees
that no change, extension of time, alteration or addition to the terms of the contract or to the
WORK to be performed thereunder or the SPECIFICATIONS accompanying the same shall in
any way 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 or to the WORK or to the
SPECIFICATIONS.

PROVIDED, FURTHER that no suit or action shall be commenced hereunder by any claimant:
(a) Unless claimant, other than one having a direct contract with the PRINCIPAL shall have
given written notice to any two of the following: The PRINCIPAL, the OWNER, or the
SURETY above named within ninety (90) days after such claimant did or performed the last of
the work or labor, or furnished the last of the materials for which said claim is made, stating with
substantial accuracy the amount claimed and the name of the party to whom the materials were
furnished, or for whom the work or labor was done or performed. Such notice shall be served by
mailing the same by registered mail or certified mail, postage prepaid, in an envelope addressed
to the PRINCIPAL, OWNER, or SURETY, at any place where an office is regularly maintained
for the transaction business, or served in any manner in which legal process may be served in the
state in which the aforesaid project is located, save that such service need not be made by a
public officer. (b) After the expiration of one (1) year following the date on which PRINCIPAL
ceased work on said CONTRACT, it being understood, however, that if any limitation embodied
in the BOND is prohibited by any law controlling the construction hereof, such limitation shall
be deemed to be amended so as to be equal to the minimum period of limitation permitted by
such law.

PROVIDED, FURTHER, that it is expressly agreed that this BOND shall be deemed amended
automatically and immediately, without formal and separate amendments hereto, upon
amendment to the Contract not increasing the contract price more than 20 percent, so as to bind
the PRINCIPAL and the SURETY to the full and faithful performance of the Contract as so
amended. The term "Amendment", wherever used in this BOND and whether referring to this
BOND, the contract or the loan Documents shall include any alteration, addition, extension or
modification of any character whatsoever.

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.

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IN WITNESS WHEREOF, this instrument is executed

in

which shall be deemed an original,
this

ATTEST:

By:

counterparts, each one of

(number)

day of , 20

(Principal) Secretary

(SEAL)

By:

Witness as to Principal

(Address)

ATTEST:

By

Witness as to Surety

(Address)

Principal
BY
(Address)
(Surety)
BY

Attorney - in - Fact

(Address)

NOTE: Date of BOND must not be prior to date of Contract.
If CONTRACTOR is partnership, all partners should execute BOND.

IMPORTANT: Surety companies executing BONDS must appear on the Treasury Department's
most current list (Circular 570 as amended) and be authorized to transact business in the State of

New Hampshire.

PY -3 of 3

CONSTRUCTION PERFORMANCE BOND

KNOW ALL MEN BY THESE PRESENTS: that

(Name of Contractor)

(Address of Contractor)

a , hereinafter called Principal,
(Corporation, Partnership or Individual)

and

(Name of Surety)

(Address of Surety)

hereinafter called Surety, are held and firmly bound unto

(Name of Owner)

(Address of Owner)

hereinafter called OWNER, in the total aggregate penal sum
of

Dollars, $ ( )

in lawful money of the United States, for the payment of which sum well and truly to be made,
we bind ourselves, our heirs, executors, administrators successors, and assigns, jointly and

severally, firmly 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 20 a

2

copy of which is hereto attached and made a part hereof for the construction of:

NOW, THEREFORE, if the Principal shall well, truly and faithfully perform its duties, all the
undertakings, covenants, terms, conditions, and agreements of said contract during the original
term thereof, and any extension thereof which may be granted by the OWNER, with or without
notice to the Surety and during the one year guaranty period, and if the PRINCIPAL 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, then this obligation shall be void: otherwise to remain in full
force and effect.

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PROVIDED, FURTHER, that the said surety, for value received hereby stipulates and agrees
that no change, extension of time, alteration or addition to the terms of the contract or to WORK
to be performed thereunder or the specifications accompanying same shall in any way 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 or to the WORK or to the specifications.

PROVIDED, FURTHER, that it is expressly agreed that this BOND shall be deemed amended
automatically and immediately, without formal and separate amendments hereto, upon
amendment to the Contract not increasing the contract price more than 20 percent, so as to bind
the PRINCIPAL and the SURETY to the full and faithful performance of the Contract as so
amended. The term "Amendment", wherever used in this BOND and whether referring to this
BOND, the contract or the loan Documents shall include any alteration, addition, extension or
modification of any character whatsoever.

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 counterparts, each one of

(number)
which shall be deemed an original,

this day of 20

2

ATTEST:

Principal

By:

(Principal) Secretary

(SEAL) BY

(Address)

By:

Witness as to Principal

(Address)
(Surety)
ATTEST: BY
Attorney - in - Fact
By
Witness as to Surety (Address)
(Address)

NOTE: Date of BOND must not be prior to date of Contract.
If CONTRACTOR is Partnership, all partners should execute BOND

IMPORTANT: Surety companies executing BONDS must appear on the Treasury Department's
most current list (Circular 570 as amended) and be authorized to transact business in the State of
New Hampshire

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INSERT CERTIFICATE OF LIABILITY INSURANCE

COI-1

DIVISION 3

0779-021022
2022 SEWER REPLACEMENT PROJECT

> CONTRACT AGREEMENT

STANDARD FORM OF AGREEMENT
BETWEEN OWNER AND CONTRACTOR

THIS AGREEMENT is dated as of the day of in the year 2022 by and between
the City of Nashua, New Hampshire (hereinafter called OWNER) and
and its successors, transferees and assignees together hereinafter called CONTRACTOR).

OWNER and CONTRACTOR, in consideration of the mutual covenants hereinafter set forth, agree as
follows:

ARTICLE 1 - WORK
1.01 CONTRACTOR shall complete all Work as specified or indicated in the Contract Documents.
ARTICLE 2 - THE PROJECT

2.01 The Project for which the Work under the Contract Documents may be the whole or only a
part is generally described as follows:

The scheduled work for the 2022 Sewer Replacement Project consists of approximately 3880 linear feet of
sewer and drain line replacement on Blanchard Street, Clement Street, Donna Street, Fairview Ave, Kendrick
Street, Kern Drive, Lincoln Park, Pike Street, Sunshine Court, and 12" Street. Work includes sewer and drain
line replacement, replacement of sewer service connections, replacement of sewer manholes and catch
basins, and miscellaneous other sewer and roadway trench patching items. In addition, the work includes an
estimated forty (40) sewer or drain point repairs at various locations throughout the City, which will be
determined based on on-going pipeline CCTV video assessment currently underway.

ARTICLE 3 - ENGINEER
3.01 Division of Public Works

Engineering Department

9 Riverside Street

Nashua, NH 03062
is hereinafter called ENGINEER and who is to act as OWNER's representative, assume all duties and
responsibilities, and have the rights and authority assigned to ENGINEER in the Contract Documents in
connection with completion of the Work in accordance with the Contract Documents.
ARTICLE 4 - CONTRACT TIMES

4.01 Time of the Essence

A. All time limits for Milestones, if any, Substantial Completion, and Completion and
Readiness for final payment as stated in the Contract Documents are of the essence of the Contract.

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4.02 Dates for Substantial Completion and Final Payment
Project will begin once a written “Notice to Proceed” is issued.

Substantial Completion shall be 180 __ calendar days from the Notice to Proceed and Final
Completion shall be __240 _ calendar days from the Notice to Proceed

4.03 Liquidated Damages

A. CONTRACTOR and OWNER recognize that time is of the essence of this Agreement and
that OWNER will suffer financial loss if the Work is not completed within the times specified in paragraph
4.02 above, plus any extensions thereof allowed in accordance with Article 12 of the General Conditions.
The parties also recognize the delays, expense and difficulties involved in proving in a legal or arbitration
preceding the actual loss suffered by OWNER if the Work is not completed on time. Accordingly, instead
of requiring any such proof, OWNER and CONTRACTOR agree that as liquidated damages for delay (but
not as a penalty) CONTRACTOR shall pay OWNER ONE THOUSAND dollars ($1,000) for each calendar day
that expires after the time specified in paragraph 4.02 for Substantial Completion until the Work is
substantially complete. After Substantial Completion, if CONTRACTOR shall neglect, refuse or fail to
complete the remaining Work within the time specified in paragraph 4.02 for completion and readiness
for final payment or any proper extension thereof granted by OWNER, CONTRACTOR shall pay OWNER
ONE THOUSAND dollars ($1,000) for each calendar day that expires after the time specified in paragraph
4.02 for completion and readiness for final payment until the Work is completed and ready for final
payment.

B. In the event that the CONTRACTOR fails to pay OWNER the specified liquidated damages
amount within thirty (30) days of CONTRACTOR's being notified of said damages, OWNER may deduct the
amount of the assessed liquidated damages from the final payment or retention withheld pursuant to
Article 14 of the General Conditions.

ARTICLE 5 - CONTRACT PRICE

5.01 Subject to additions and deductions by Change Order, the OWNER shall pay CONTRACTOR, in
accordance with the Contract Documents, the Contract Sum of:

DOLLARS

($ )

The Contract Sum shall include all items and services necessary for the proper execution and completion
of the Work determined below:

A. for all Unit Price Work, an amount equal to the sum of the established Unit Price for each
separately identified item of Unit Price Work times the estimated quantity of that item, as indicated in the
attached Schedule of Values;

B. as provided in paragraph 11.03 of the General Conditions estimated quantities are not
guaranteed, and determinations of actual quantities and classification are to be made by ENGINEER as
provided in paragraph 9.08 of the General Conditions. Unit prices have been computed as provided in
paragraph 11.03 of the General Conditions.

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ARTICLE 6 - PAYMENT PROCEDURES

6.01 Submittal and Processing of Payments

A. CONTRACTOR shall submit Applications for Payment in accordance with Article 14 of the
General Conditions. Applications for Payment will be processed by ENGINEER as provided in the
General Conditions.

B. Application for Payment performed under this agreement shall be submitted as follows:
> Electronically via email to VendorAPInvoices@NashuaNH.gov
OR

> Paper Copies via US Mail to:
City of Nashua, City Hall
Accounts Payable
229 Main Street
Nashua, NH 03060

Please do not submit invoices both electronically and paper copy.

In addition, and to facilitate the proper and timely payment of applications, the OWNER requires
that all submitted invoices contain a valid PURCHASE ORDER NUMBER.

6.02 Progress Payments; Retainage

A. Progress Payments. The OWNER will once each month make a progress payment to the
CONTRACTOR on the basis of an estimate of the total amount of work done to the time of the estimate
and its value as prepared by the CONTRACTOR and approved by the ENGINEER. All such payments will be
measured by the schedule of values established in paragraph 2.07.A of the General Conditions (and in the
case of Unit Price Work based on the number of units completed) or, in the event there is no schedule of
values, as provided in the General Requirements.

B. Retainage. The OWNER will retain a portion of the progress payment, each month, in
accordance with the following procedures:

1. The OWNER will establish an escrow account in the bank of the OWNER’S
choosing. The account will be established such that interest on the principal will
be paid to the CONTRACTOR. The principal will be the accumulated retainage paid
into the account by the OWNER. The principal will be held by the bank, available
only to the OWNER, until termination of the contract.

2. Until the work is 50% complete, as determined by the ENGINEER, retainage shall
be 10% of the monthly payments claimed. The computed amount of retainage will
be deposited in the escrow account established above.

3. After the work is 50% complete, and provided the CONTRACTOR has satisfied the
ENGINEER in quality and timeliness of the work, and provided further that there is
no specific cause for withholding additional retainage no further amount will be

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