Opinion ID: 2470
Heading Depth: 1
Heading Rank: 1

Heading: BACKGROUND [1] The Bond

Text: In 2002, the City of White Plains granted Fuller a no-bid contract to build a plaza and fountain at the corner of Main St. and Mamaroneck Avenue in White Plains. Payment Bond (Labor & Materials) No. SU1001063 for Contract No. 902334, Apr. 16, 2003 (Payment Bond) at 1; see Complaint, Ex. A, Precision Stone, Inc. v. Arch Ins. Co., No. 04 Civ. 09996 (S.D.N.Y. Dec. 17, 2004) (Doc. No. 1) (Compl.). Louis Cappelli, the owner of Fuller, represented to the City that he wanted to substantially complete the construction of the [project] by the end of October 2003 (before Election Day). Precision Stone, Inc. v. Arch Ins. Co. ( Precision Stone I ), 472 F.Supp.2d 577, 578 (S.D.N.Y.2007). On April 16, 2003, the Sureties, neither a citizen of New York, and Fuller issued a payment bond for the use and benefit of claimants supplying labor and/or materials for the work on the project. Payment Bond 1. Pursuant to the bond, those who had provided labor or materials on the project and who had not been paid in full within ninety days after the completion of their work on the project were entitled to sue [the Sureties] and [Fuller] on this bond for such sum as may be justly due, provided, however, that no such suit or action shall be commenced hereunder by such claimant after the expiration of one (1) year following the date on which [Fuller] ceased work on said contract.. . . Id. at 2.