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40 40 L-1 The Cdntractue an4 :he 7urcIy.laid IIy and severally. brad them%elves. err relit. e�ccuiarx. xdminiuntWt. tuueeetws an, +astgna w the +nrr ryr the Pett ornean Ct of the Conttruction'Contoct. which is incarponled herein by reference, it the Contractor performs the Conttrueuon Contract. tht Soretv and u Contractor %hall have no obligation under this Bond. except to par - in eon(cfences as pro•ided in Subparagraph ),I. !. If there is no owner Defauh. the Surety's obligation undttthis Band -toll arise aft€r. ].I . The Owner has rorihsd the Contractor and the Scatty at its address d€ecrioca in Far graph 10 Wow, ehas the owner it cansaftn+tI declaring s Cdntraclaf Default and has rcelueatt4 and attemfKed to arrinfe a conference with the Coneraetaf aasd Me Sutcty W be held nor Inter than Mietn days after rercupt of ouch "We so discuss methods of pedormint the ConsinKtion Consists. it IN Owner. the Comr&401 an4 the Surety agree. she Conaraelof uaall be allowed a tcaaonab14 time ua perform the Canstruelaas Com tract. but such an atrtcmeot;hall nal waive th4 Clw"FI s right. d any, subsequently to declare a Coetraceor Default. am ].I. The Oweter has declared a Coraraesetr f WI& and faynaaBy tot. mrnated the Cantroetayr s fight to cDmV ale the CCOU " Su" CenlraCter Default shall not bit 44clartd earlier thu ke ttaar days after slit Cohtrxlor toad the Urety have retested attune 0 Ano- vrdtd in Subparlgraph ].1l and 1.l. The Owner has atretel to pay the Balance Of Chit Canvass text' so the Surety in accordshice with Ott crass Of the Coealry ube Contract Otto a contractor ttleesed to Pic, (am this Cortstn estoo Contract in aecordanca with Iht terns of Ube conaraea wuh the Ownef. e. 1Whrn the Avner Ant uttt6ed tAa coawdtuoxts rrf Pwtraph ]. t>fe Srrery ,hail promptly and a tht Surely's tattersall take eta of tfae fooewaag sellnnt. 4.1 Arson{€for the C*Muwluf. with concent Of the Ctww". W PerfofAt b, atter the owner hat termrhatcd the Canto:tor s ngnt to compie:e the �,,:.:t: u:ioran COnsra€t. and rf ,tie SWrc:y <1..tt rt. a:: ;rndrr 5v.;:; g';y�;, 1.1. 4.2. ar 4.1 above, then the tetponttbrintcL of the Suresh' to the Owner shall not be grtatcr than those of the Conitactor under the Canslrue;son Contract. toad the responsibihtict of the Ok ritr to the Surely shall not be treater than those of the Owner under the Cantartaeuon Conner.'to the limn of tht amount ofthil Band. but aubtecl sotomnutmcnt by the Owner of the Bourse* of tM Contract Price to miugaaian of costs and darnagss on the Construction Contras, the Sarety It obligated without duPeieattan for. 6.1. The respontibtilities or the Contractor for Correction of defccuvt wort aced comyfttioa of the Conuruettan Contraett 6 -- A"tionas Ictal. detrgn pfefettrona7 and delay costs rttuttsng from the ContnctwY Default, end resulting from, the actte31 at failure to act of the Suretr under Paragraph 4: and 6 }. laqutdated 43ttlates. at if tsa 64tsadated daenatts are 104cific4 in the Constrtttlaoe Contract, actual damages tsustd by dtayed perfa--Muaace or son.Perfor oil of this Coettnelol. 1 7, TM S,Irety ahs' sot let kable to the Owner of *then for obkgattons of Sha Contractor M" are amretated to 04 Construction Contract. and tete Btaian rs of sea Caauut Prue awl sot be Muted or set ad on account of es y latest eeafglued obbrtaaio - t4o highs of 40s04 shall acctut on Out 'fined to ser ptrUe Of eaast r '*User lhss th'a 0 "ar or eta Min. txtcvtars. tldatuatstruon, of auueSaora ri •f Lt Swat? ba:e0l Wisivell "Age of &AT change, lr►t:fwt4eag lean;rt of U04 to arae Catastrvcsaaa Caatnw-1 cc to salutes 1tlbcowrae14. Purebase omWn ud otter aorrtstl*na 9. Asy'fracgedwa Item oe egwubk. tabger this Bond may be ihtutue4d ere agar loan of catapeuat larrsadaetton w Ilia 1oCa !on to -tote etre waM OW pin Of the wait% as wauC and 9b413 be 1111334a4a144 -Tthte Iwo rear? shot Cctntraasor Defaaata of-ttlrsm two rear alter "at Cosua€tor Ceased work - 04 of ereaaa tea rsaru slur that sarnty rtflawt or Gals to ptrfoalta iu obseiauo" vsdtr this Bond. *b.ebeM *CCUs ilret. U tbt P41"Ui'" of this Pas"Tw�Is��a�ryt� ra4 of f1r�ba"d by law• the stiniasum period at aa 4aaaaoa IV 84 k to aarituds as a dde"a in tfu yunselictwn of the tuts "be tOgsxablit. to [*Cottee to tun Sore4y. use 0— of use Contrutot that; be ma44 or &Uvered to as rddeat" tisor.a as Ute uyaatrat page -iib a atatutary o} It. W471ta lhfa. Bead lea >� localities -bare tM Comply waI to tf either ltipd is I Prittmt petfatyned. say f m tela Based rae+fltcwtng wash sato statutory ai keel reein sanest risen he 44-40" delated he=crrom Std pranaiont con lwtntnt to tach esuutory ae oeber Intal nAuersmeet Shall be d44mad ;ocofydratayl Ixrt[ial. The tausit, is Shu this Bond stall be construed as s twutory band and oat as a 4orsu4too It.- be" - 12 13-chousocit 1I.1. 84laece *(the Contain f5w*t: The total Utsount psyabk by the O.'eser to tat Contractor utto4r est Conatru4s on Contract after ail Proper adauttmeota bsve been tssade. isscludw$ 40owltcct to ase Coesraclor of any atxtwau received or to be received bx the Ownar let trek®eau of lnaurartce of other claims fat dam ate, to which the Cootrtictof is entitled. reduced by all valid and ploger payments attade tit or an behalf of the Contractor under the Construction Cat.t..:.- l2 �. Conatnactson Contract.: The atrecm4nl beeves" she i]wncr an< IM Contractor identified as she signature pant. including Ir. Contract Documents and changes thcrelo. 113. which has 110M' bisree ' t medd drWaived. to perfof'm orotollherwlse to cumPl) with the terata of the'Co�nsuvoion ContriCt. 13.4, Owner Ekfault: Failure of the Owster, which has rteithce beer remedied nor waived. to pay the Contractor asle for eompib o Construction Contract or to pctiortn and campte with the other terns thereof. and earnpl€te etre Conatnxtson Contract. ear 4 2. Undertake to perform and complete tate CaaANCtsaib Contra itself, through Its Irma or 1111`1000indspesn_. 4441 coaarwoor 4.5. Obtain bids or negotiated prapettats from gatkILUd coastrU-444 acceptable to the o.n4r far a "atrat4 for p4rformsm" artd+Ceub, w pleteon of she Canntetitrn Contract. arrange (wa contract to be prepared for crecuuon by the Ovivrr and she cgntractor ukfuil with the OwnCr's eamct. ncunto be tacurad -'[I%peet¢usraoGe and payment bonds.. ttecuttd. by a qualified turtry equivalent to she bands issued on the Coastruchan Coe4ra€t. Ladd pay so the Owner the amount of damasea as described in PW14Ppe 6 itst Aeers u(thc Baiance of the Cantract Price "ursed bY'tha Owlset ritsulrrng (tom the Cantractor's default: of 4.4. 4W4Ive its +tight to perform and cor"peett. ar'rangt lot raatplttioo. of obtain a new contractor and with reasonable prootgtncst ua44t the: clrcurnetancer 1, After invetlig7tion, delerrntn[ the smount for which as "Y Mil liable tothe Owritt and. as Loon as practteable afttrthe atnttwnl. is demanined, tender payment therefor to she t?w"tr: of 2. Deny liability tit whole or in part and ":4 �•= OWner etung rCasoits therefor. S. if the Survey 40et not proceed as provided in Paragraph 4 with reason- able prnmpincss. the Surety shall be dtemed to be in default on this Bond hfteen days after tecaipi or an additional wnttrn ao6cc from the Owner to she Surety demandant that the Surety perform its obligtuons under this Mond, and the Owncr shill be entitled to enforce any remedy available to the Owncr. If the Surety proceeds as prua i.dtd in Subpara.traph 4.4. and the Owner refuses the payment tendered or the Surety has denied liability, n in whole or in pa. without further notice the Owner shalt be entitled t enforce any remedy available to the Owner. (FOR INFORMATION ONLY—Narne, Address and Telephone) AGENT or BROKER: OWNEWS REPRESENTATIVE (Architect, Engineer or *slide party};