WORLD TRADE CENTER - RESIDENTIAL APARTMENTS

NYC 9/11 Public Portal Document NYC-DEP Information For _ Bidders and Supply % Service Agreement (Rev. 17/93) PAYMENT BOND (P3.2) NOW, THEREFORE, the conditions of this obligation are such thst if the Principal, his or its representatives or assigns and other Subcontractors to wham Work sander this Contract ts sublet and his or their Successors and assigns shall promptly pay or cause to be paid all iswful claims for: (a) Wages and compensation for izbor performed and services rendered by ali persons engaged in the prosecution of the Work under said Contract, and any amendment or extension thereof or addition thereto, whether such persons be agents, servants or employees of the Principel or of any such Subcontractors, inchading all persons So engaged who perform the work of laborers or mechanics at or in the vicinity of the site of the Project regardless of any Contractusl relationship berween the Principal or such Subcontractors, or bis or their Successors or assigns, on the one hand and such isborers or mechanics on the other, but not including office employees not reguiariy _ stationed at the site of the Project, and tb) Materials and supplies (whether incorporated im the permanent (construction or not), a5 well 2s tess, fuels, oils, implements or machinery furnished, used or consumed by said Principal or any Subcontractors at or in the vicmity of the site of the Project in the prosecution of the Work under said Contract and any amendment or and effect. ‘This bond is subject to the following additional conditions. fimitations and agreements: @) ‘The Principal and Surety (Sureties) agree that this bond shall be for the benefit of amy materialman or Iaborer baving a just claim, 2s well zs the City inseif. ob) All persons who have performed labor, rendered services or furnished materials and supplies, as aforesaid, shall bave a direct right of action agains: the Principal and his, its or their successors and assigns, and the Surety (Sureties) berein, or agzins: either or both or amy of them and their successors and assigns. Such persons msy sue 20 therr own name, and may prosecute the suit to judgment and execution without the necessity of joining with any other person as party piainuff. (c) The Principal and Surety (Sureties) agree that neither of them will hold the City liable for any judgment for casts or otherwise, obtained agains: either or both of them by a laborer or materialman in a suit brought! by either a laborer or materiaiman under this bond for moneys allegedly due for performing work or furnishing material. {d) The Surery (Sureties) oc its successors and assigns shail not be lizble for amy compensation recoverable by an employee or laborer under the Worksnen’s Compensation Law. fe) In no even: shall the Surety (Sureties}, or its successors or assigns, be ligble for 2 greater sum than the penaity of this bond or be subject to any suit, action or proceeding hereon that is mstiuted by amy person, firm, or corporation bereunder ister than two (@) years after the complete performance of said Contract and fmal settlement thereof. The Principal. for himself and bis successors and assigns, and the Surety (Sureties). for itself and its successors and assigns. do bereby expressty waive any objection that might be interposed 2s to the right of the City 1o require a bond containing the foregoing provisioas, and they do bereby furtber expressly waive any defense which they or cither of them might imierpose to an action brought hereon by any person, firm or corporation, inchuding or furnished as aforesaid upon the ground that there is no isw authorizmg the City to require the foregomg provisions to be placed in this bond. 69 NYC-WTC_000154211