Beachcrete, Inc. v. Water Street Center Associates, L.L.C.

STEELMAN, Judge.

Water Street Center Associates, L.L.C. (Water Street) is the owner of the Water Street Center, Wilmington (the Project), which is a private construction project consisting of offices and condominiums. Miller Building Company (Miller) was general contractor on the project. On 15 December 1999, Miller gave to Water Street a payment bond on the project in the amount of $8,269,954.00. American Home Assurance Company (defendant) was the surety on this bond. By the terms of the bond, Miller agreed to pay “all lawful claims of sub-contractors, materialmen or laborers for labor…