HomeMy WebLinkAboutExecuted Bond (E)1
CITY OF CAPE CANAVERAL
(Solid Waste Franchise)
PERFORMANCE PAYMENT BOND
BY THIS BOND, We, TROPICAL CARTING & RECYCLING, LLC, a Florida limited liability company
[name of principal/franchisee] as PRINCIPAL/FRANCHISEE AND ___________________________________
[name of surety], as SURETY, are bound to the CITY OF CAPE CANAVERAL, FLORIDA, herein
called CITY, in the sum of FIFTY THOUSAND and NO/100 Dollars ($50,000.00), for payment of
which we bind ourselves, our heirs, personal representatives, successors, and assigns, jointly and
severally.
WHEREAS, said Principal is required, under the Non-Exclusive Solid Waste Franchise Ordinance
No. 06-2023, adopted by the City Council on June 20, 2023 (hereinafter “Franchise Ordinance”),
to perform solid waste services within the jurisdictional limits of the City of Cape Canaveral in
accordance with the terms and conditions of the Franchise Ordinance and to provide a
performance bond in the amount of $50,000 insuring Principal’s faithful performance of the terms
of the Franchise Ordinance.
THE CONDITION OF THIS BOND is that the PRINCIPAL/FRANCHISEE shall:
1.Perform and abide by the terms and conditions of the Franchise Ordinance adopted by
the City of Cape Canaveral under Ordinance No. 06-2023, as may be amended, and said Franchise
Ordinance being fully made a part of this bond by this reference. Any changes in or under the
Franchise Ordinance and compliance or noncompliance with any formalities connected with the
Franchise Ordinance does not affect SURETY’s obligation under this bond; and
2.Promptly make any and all payments to the City as may be required pursuant to the
Franchise Ordinance; and
3.Pay the City all losses, damages, expenses, costs and attorney’s fees that the City may
sustain because of a default by Principal under the Franchise Ordinance; and
4.Perform all duties and responsibilities pursuant to the Franchise Ordinance.
The Surety shall become liable on this bond obligation only when the Principal/Franchisee has
failed to fulfill the conditions described above. Upon written notification to the
Principal/Franchisee and Surety by the City’s City Manager, or designee, that the
Principal/Franchisee has failed to perform as guaranteed by this bond, the Surety shall pay to the
City the amount guaranteed hereunder to insure the Principal/Franchisee’s prompt performance
under the Franchise Ordinance. The liability of the Surety shall not be discharged by any payment
or succession of payments hereunder, unless and until such payment or payments shall amount
to the aggregate to the penal sum of the bond, but in no event shall the obligation of the Surety
hereunder exceed the amount of said penal sum.
Bond Number: 964233727
The Ohio Casualty Insurance Company
2
The Principal/Franchisee may terminate this bond by sending written notice to the Surety;
provided, however, that no such notice shall become effective until the Surety receives written
authorization for termination of the bond by the City’s City Manager, or designee.
The persons whose signatures appear below hereby certify that they are authorized to execute
this bond on behalf of the Principal/Franchisee and Surety.
IN WITNESS WHEREOF, the Principal/Franchisee and Surety have executed this bond and have
affixed their seals and/or signatures on the _______ day of _______________, 2023.
PRINCIPAL/FRANCHISEE:
TROPICAL CARTING & RECYCLING, LLC
(Corporate Seal)
Signature_______________________________
Title___________________________________
SURETY
Company:
_____________________________________
(Corporate Seal)
Signature_______________________________
Title___________________________________
The Ohio Casualty Insurance Company
18th July
David B. Shick, Attorney-In-Fact &Licensed FL Resident Agent #A241176