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40 r 5 Us notice required by Paragraph 41s given'`` honer to the Comtractororto the Surety, that Is sufAclent corhp•nance. 8 When -the Claimant has satisfied the conditions of Paragraph 4, theSurety shall promptly and at the Surety's expense take the followingfactions: 6.1 Send an answer to the Claimant, with a copy to the Owner, within 45 days after receipt of the claim, stating the amounts thatareundisputedandthebasis for chat;enging any amounts that aredisputed . 6.2 Pay or arrange for payment of any undisputed amounts. 7 The Surety's total obligation shall not exceed the amount of thisBond, and the amount of this Bond shall be credited for any paymentsImadeIngoodfaithby the Surety. 8 Amounts owed by the Owner to the Contractor under the Construc- bon Contract shall be used for the performance of the ConstructionContractandtosatisfy claims, If any, under any Construction Perfor- mance Bond. By the Contractor furnishing and the Owner acceptingI .this Bond, they agree that all funds earned by the Contractor In the Performance of the Construction Contract are dedicated to satisfy obil- gations :N the Contractor and the Surety under this Bond, subject tothe Owner's priority to use the funds for the completion of the work. 3 The Surety shall not be liable to the Owner, Claimants or others forobligationsoftheContractorthatareunrelatedtotheConstructionContractTheOwnershall not be liable for payment of any costs or1xpenses of any Claimant under this Bond, slid shall have under this3ondnoobligationtomakepaymentsto, give notices on behalf of, or otherwise have obligations to Claimants under this Bond. 10 The Surety hereby waives notice of any change, Including changes f time to the Cansiruction Contract or to related subcontracts, pur- hase orders and other obligations. 11 No suit or action shall be commenced by a Claimant under thisBondotherthanInacourt of competent Jurisdiction In the locationwhichtheworkorpartoftheworkislocatedoraftertheexpirationloneyearfromthedate (1) on which the Claimant gave the noticerequiredbySubparagraph4.1 or Clause 4.2.3, or (2) on which the lastlabororservicewasperformedbyanyoneorthelastmaterialsoriquipment were fumished by anyone under the Construction Con - act, whichever of (1) or (2) first occurs. If the provisions of this MODIFICATIONS TO THIS BOND ARE AS FOLLOWS: Paragraph are Vold or I ed by law, the minimum period of limi- tation available to suretieb a defense in the Jurisdiction of the suitshallbeapplicable. 12 Notice to the Surety, the Owner or the Contractor shall be mailedor delivered to the address shown on the signature page. Actual receipt of notice by Surety, the Owner or the Contractor, however accomplished, shall be sufficient compliance as of the date receivedattheaddressshownonthesignaturepage. 13 When this Bond has been furnished to comply with a statutory orotherlegalrequirementinthelocationwheretheconstructionwastobeperformed, any provision In this Bond conflicting with said statu- tory or legal requirement shall be deemed deleted herefrom and provisions conforming to such statutory or other legal requirement shall be deemed Incorporated herein. The Intent is that this Bond shallbeconstruedasastatutorybond and not as a common law bond. 14 Upon request by any person or entity appearing to be a potentialbeneficiaryofthisBond, the Contractor shall promptly furnish a copyofthisBondorshallpermitacopytobemade. 15 DEFINITIONS 15.1 Claimant: An individual or entity having a direct contract withtheContractororwithasubcontractoroftheContractortofurnishlabor, materials or equipment for use In the performance of theContract. The intent of this Bond shall be to include without limi- tation In the terms "labor, materials or equipment" that part of water, gas, power, light, heat, oil, gasoline, telephone service or rental equipment used in the Construction Contract, architectural and engineering services required rcr performance of the work oftheContractorandtheContractor's subcontractors, and all otheritems for which a mechanic's lien may be asserted In the jurisdic- tion where the labor, materials or equipment were furnished. 15.2 Construction Contract: The agreement between the Owner and the Contractor Identified on the signature page, Including allContractDocumentsandchangesthereto. 15.3 Owner Default: Failure of the Owner, which has neither been remedied nor waived, to pay the Contractor as required by the Con- struction Contract or to perform and complete or comply with theothertermsthereof. co Cil Pace Is provided below for additional signatures of added parties, other than those appearing on the cover page.) W CONTRACTOR AS PRINCIPAL rmpany: SURETY (Corporate Seal) Corporate Seal) Company: S lsture: Signature: _ Wthe and Tide: Address: Name and Title: Address: Page 2 of 2 A T RUE COPYCERTIFICATION ON LAST PAGE nTn1,, ri FRK