HomeMy WebLinkAbout60- B. & E. Co. Inc. Agreement
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AGREEMENT
THIS AGREEMENT, Made and entered into this 27th day of
~ January A. D. 1960, by and between B. & E. CO., INC. , a
Montana corporation having its principal place of business at
Bozeman, Montana, party of the first part, hereinafter called
First party, the CITY OF BOZEMAN, a municipal corporation in
Gallatin County, Montana, party of the second part, hereinafter
called Second Party, and F. P. MESSMER and T. G. HAGGERTY , co-
partners, doing business as Haggerty-Messmer Co., of Bozeman,
Montana, parties of the third part, hereinafter called Third
party;
WIT N E SSE T H:
WHEREAS, First Party and Third Party did on the 2nd day
-..-. of July 1959 enter into a certain Contract Agreement whereby
Third Party agreed to construct and install a water distribution
system for New Hyalite View Subdivision, Bozeman, Montana, and
First Party agreed to pay a fixed price for said work; and
WHEREAS, the aforementioned Contract Agreement between
First party and Third party contained a guarantee clause which
is more particularly set forth on page 9 of the General provisions
of said Contract Agreement and reads as follows:
"Guarantee
30. The Contractor shall unconditionally
guarantee the Work for a period of one year
from the date of acceptance, against defects
in material or workmanship. If such defects
are found, the Contractor shall correct them
or pay to the Owner the cost of having them
corrected."
and
WHEREAS I the work under said Contract Agreement is not as
yet completed but First Party and Second Party desire to determine
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Second party's account with First party for certain payments
owed by Second party to F;i.rst Party in accordance with the
provisions of the Subdivision Ordinance of the City of Boze-
man: and
WHEREAS, Second Party is willing and ready to pay First
Party in full on said account provided that First party assigns
to Second Party the aforementioned described Guarantee for its
protection.
NOW, THEREFORE, in consideration of the mutual covenants and
agreements hereinafter mentioned, the parties agree as follows:
1. That First party hereby assigns, transfers and sets
over to Second party the above mentioned Guarantee running from
Third party to First party;
2. That in consideration of such assignment, Second party
agrees to pay to First Party all sums due First party from second
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Party on account of the difference in pipe sizes as provided in
the Subdivision Ordinance of the City of Bozeman;
3. That Third party hereby consents to said assignment
of the Guarantee and hereby unconditionally guarantees the work
in said water distribution system against defects in material
or workmanship for a period of one (1) year from the acceptance
by First party of said water distribution system;
4. That all the parties hereby agree that all the benefits
of the Guarantee shall inure to Second party from the date of
this contract to the expiration of the one year period.
IN WITNESS WHEREOF, B. & E. Co. , Inc. has caused its
corporate name to be subscribed and its corporate seal to be
affixed by its proper officers thereunto duly authorized, the
City of Bozeman has hereunto set its hand by its Mayor and Clerk
of the City Commission, each thereunto duly authorized, and
the parties of the third part have hereunto set their hands and
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seals, all as of the day and year hereinabove first written.
ATTEST: ': B
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/~...: "J//])':.?:'~ ,y
--~,' " 'secretary
CITY OF BOZEMAN ~
ATTE3'I.':' , - " B~ ~
~~~/ /, ~/L .I ~, I/;. , Ma" yor
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Clerk of the city CommJ.ssJ.on-', '.- '----/, ..
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( SEAL)
F. P. Messmer
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T. G. Haggerty;'/" c/'/