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i! <br />• <br />40 <br />I- The Cuntraclor and the Surety, ioinll"v ami sevel:dty. I+iud Ilwrlm•Itt•4. <br />tllcir Ileits, a%cculots. atltnims11att IS. S11M'5sors and assr,L+Nis to talc t Irinm <br />for lite perronnalie e of the 'till Nil IICllnrr r'onlract. It Nicht ix uuorynlr,nt•rI <br />Ileteill by lefcrcncc. <br />2. If Ihr Cnnlractot IMIOr PINS the CI tic aatl It'rNitt:Iet, IIrt• 4llivIv alnl <br />the Contractor shail slave no oblil;-]tion uidet Ellis IInuJ. ctcrl,l rn <br />ParticiP3ic <br />its conferences as Iiuvrdcd in Solq-arlgraph 1. f <br />3. If Mere is ao Owner DI I. the Saiely"s nhli)tatinn uudcr Ibis "mit <br />shall arise after: <br />3.1. 'rite owner has noliried the Colararlor ami rhe ';1tu•ty at its <br />address described in 1'aragrarh 11) hclow. Thal the I rtvucl Is <br />considering declaring a Conlraelor befardl and has rc,plestcd aid <br />alicalli ed In arrange a conference with lire Cartllactnr and ilia <br />Sorely to be Relit not later Ih,m frllceit this Alrr receii,l Nil mall <br />naficc to discuss ntetho % Or rerfoiuimu, Ilrc t'++u.nnrliun <br />Ceptlraei, if the Owner. tilt [.'nnCraClnr :till air 01111'n apse•, the <br />(�alltractar strait he allowed a re.354111AN10 mut In ptrto1nt IIIc <br />C'onstrucfi11n Contuicl. hal 5plc11 .ill :Ill eelllcllt sliall Iklls '.-M t• pill - <br />Owner's right, if airy. subsclllwilliv I„ duhic ,1 I'„n11aeial <br />Ucfault: and <br />3.2. ]'lie Owner has declared 3 Conlinclo+ Urtault lurtl hmimll% <br />leriommcd the C'ontractor's right to complete [Ile contract. Such <br />C'rraCric(or Default shall riot lie declaickl earlier than IN"oly dans <br />alter (lie Compactor and the Surety have leccivcd nonce 3 <br />provided in Stillparngrnrb 3 1: arid <br />3.3. Ilia Owner has agreed 1e, flay the 81111 i:c of lite C'oulran I"lice Irl <br />the Surcly ill accnnlanec ta1111 Pile terms Nor rile r'ollntruuarl <br />Corrine( of to l cnuliacu 1 selccled ill prrfonn till! i-Noi"[rrlr]it'll <br />LOlriner in =COI(lancc will the IPlr11s of the tumrrcf +tlUt the <br />Owner. <br />4. When Ilse Otvrrer 1135 salislicli [Ile c11ndi,aaa5 of iraragralVl 3. the <br />Surey 511311 PrnntPlly acid Not lite StktCly`4 expcnsc take line (11 (Ire <br />following ac(iaas: <br />4.1. Arrange for the Contractor. Willi lite COIt5C111 of tilt otauer. 111 <br />perform and complete ilia Colivrlmioll 011111ael: or <br />4.2. Undertake to 11erfar111 and [11Ir1)llett• the Cousuurtit,o ('nnriacl <br />ilsrlf, Ihlough its agctns or thwnr;lt imlcpendrnl anllrrrdns; 11r <br />4.3. obtain bids lir icgotiatcd prolonmis Gnat iPlalilicd caitlackrls <br />accepiahle to the Owner for Phe contracl Ger pertinnrauce amt <br />roiliirleliatl 01 (INC (,'O11sntlCltnrl 4'anlrart, an llVe far a e11nIIaUI to <br />Ile prcparrd for excctrtiau by the 13wnef and the "Mil"1 ,11 <br />selected with talc owtrcr's cnncirrcocc. (n 11e Sr+mad ]tali <br />Pcreormance amt payrnenl bands cxecntcd try a 111111111"1011 Slncly <br />equivalen( to Ilia bonds issued on the Catlslructinu t'+olur;n 1. and <br />pay Io lite owner Iirc amount of damages as t1{scribed in <br />Paragraph G in excess of tilt Balmtce or Iirc I'onrt;Prt PrIVe <br />iplcurrod by tlta Uwtrer resrltlilrg Gorr thr C1111111001'9 dcf:mh; lir <br />4A. Waive its riglit to pcil'nrni and c(lraltlel¢, alrangc IuI cnluPlelr,nl. <br />or Obtain a new contractor and wills icasilriable Proarrolies5 andel <br />lire circarnstarccs: <br />L Ailer imcstigatarrlt, delcirirrite the ammillt hof which II Imp)- be <br />]iallfc In die owner and as soon as praelicabte afie+ tike ;p1 atil <br />I% determined. leader paymcnl 111crclnre la ilia t)wmul; lir <br />2, Ueny liability ill whole Not ill part and rrotil"y the Owner Mawr <br />re;1SO115 111CreGHe. <br />5. If the Surely docs not palcced aS provided IIs Ilanwialll I with Icasom <br />able promptness. Ilse Surely shall be dcclncrl No toe in deraull lin 1111-: It+:1111 <br />lillecn days after rcccipt of all additional rvritlen mince liana rltc 1 kv11cl <br />In the Surety dellen odilie IIIaI the Surety pull*nut i(e abligarirrns olab•k Ilu <br />IInnd. mad lite Owner shall be crktlilcd k1 cld�nl:e:rlry rt'rtler.ly availahb. In <br />the o.vuer. If dtc Surety PrnCecd4 as 11mvirled Irl Snllparrt!r11Jill .Ie,.:11nl <br />tire owrier refuacs Ilia paymcul leidere,l or 'Ile Surety Lac ileoird <br />habilily, ill whole or as Inial wiflluut atrllkrr onncc Me thvnea "111111 Ire <br />cnlidcd 10 cnforcc any ranctly avail11hlc Ili etc I hvncl. <br />6. ARCI PIT I W147t 1614 14 rllli+I:11L'd Ike ['null lS['1i11'4 rigid to Coll INI lite <br />('Noll=IIII •nnrl ('011lrn:t, 311LI if die Sartty aleck io ac( Platter Subparagr0I'll 4.1. <br />.1 2, Ili .I 3 alone" 111011111C icsprurxilnllacs .,[ ilia Surely to ilia owner shall lint <br />lu• tir•'a1l•I Iltm II141se of the Canll1Clrtr ruiner tile 'C ouslrii0ion Contract. and <br />the enp++usibdrias of the Uwncr Ir, Inc Sutcty shat] plus lie grcaler Maps those <br />of the s titan Illtiler etc [ "unstrr,clilrn ['nnliao '1"o Ilse limit of file arnmlut of <br />If1is 11o11d, lint snhtcrl conuliintrent hp khr Owner of Ilio I3a1a11ce' Of Ilia <br />Comma Price to ntitipmoi or cn4ls and damages on the C'onstree[1on <br />l'olro;rct. Ilia Smey is ohlikalcil wilhaul dupbcanou till <br />r,.1 1lie Icspousilrilifics of the Comiacbtr for correcfiou of Variative <br />K ark and Crnoplefiott of ilte C'on5t111Ction [ p111raet: <br />6.2. Irhiifionai legal, design professional and delay costs resuiliug <br />tiara (tic ("onnaclor"s I)efauft. and resnlliag from ilia actions or <br />failure, [o ail of [Ile Surcly under Para)Iraph 4: and <br />nl•a. I,iyuidatrd dantagcS, ar if nO liquidated damages arc specified ill <br />the r,t111silnction c'unlr:lcl, acaml dalna)ws caused by delayed <br />Ile, fnnu Pace lip tinn-pctR)nnance of tike Contractor. <br />' 1lie 5irery sl11dl not he liable to the t]lyver or nibcrs Grr ohlihatinus of lila <br />I 'urinat'CPi Ilial ala nnPelawd in the C(1n4Ir1ICt111n Corialm 1, and the Milan- at <br />(he ('rr11naet Pili,, dial] not iia MINICe4l or SCI off on account of any Stich <br />uPlleIIicil Noblig+nunrs. No Nigh[ of action Alait aCCP%IC Oil this 13ulld to an} <br />person 11r entity other than the owner or its heirs. cxcculars, administrators, or <br />successors <br />R -1 be Sorely hereby tcaitcs plclliCe trf any Cloangc. including Changes of time, <br />Ili Ilia C'onstloclilm t'aou3ct ar to tellierl sulicnnlracts, 1nIFICIU a orders and <br />allitr ohligalimos. <br />+f. Any proccciling, legal OF equ,lable, uudcr Il(is Bond may lie instituted in <br />any coart of cnmpciclat joristlictiun in ilia location Nor which ilia work or Part of <br />Itte stork is Ine3tathand shall lie inslittneri within two years after L'onl raN: I <br />Darmilt Nor wilhm nvo years a0cr the Compactor ceased t1,•orkiag or within mii <br />years after Ilke Surcly w0mes lir fails 1e, Perfnnn its obligations under Phis <br />1311116. tnitichc"cr oct-urs first. If tine ptuvisions of Phis Paragraph are void or <br />pmltihitcll by law. ilia nbutimuln perils! of limitation availablo to sureties as a <br />dcrelrse ill lilt! Jill isdiction Of the suit shall be applicable. <br />lit. Nnaice No the S1rlery, tire Owner or the Contractor shat] he mailed or <br />dclivere,t to 11w :ul+hess %Ilglwll till Hit, Signature page. <br />t i Witco Ellis Rand 113; bee11 flluished to comply with 11 staluttory 01 other <br />legal fellmernctn In IIIc location whale. Ilse construction was to be perf(IrmCd <br />any lirm-isimt ill ruts It11nd coullicliug With snit) sfanmly lir Icgaf 1equircniern <br />Shull Ile dcamcd tlrtcusi dit'PC•litlnl :Inti provisimrs coniarnrinr to such sta(wory <br />lir odlt:l kwil rcduirenicut shaft i1e deemed iticarporated herein. 'I he intent ii <br />drat Ibis Timid 511:1}1 lie cousllued as a smuuuly bond ami not as a corunron last <br />hronl. <br />12. I )c l illi no lls. <br />I2.1 Balance of lire C'own t Price: 'ILe hila] auiouut PayalncC by IN <br />r lit ]ler to [tic CnMM11 r1 ambit Ilio VOIBMICbtnl Contract after at <br />prnpot adjuStrltl•nts have been male, irlcftlding allowancc 10 ilk <br />4'unllactar of :Nor}' amotuns tUCC'it-ed lir In IIc (cccived by the <br />Owner in wititinen[ or insurance or otter claims for damages (c <br />wlttch dic Contractor is entitled, icducctl by nit valid alyd Propel <br />paymcnls made to lir oil behalf of the ['onuactor under Ihr <br />Cmu;1rucfion Compact. <br />17 2. I" islruclion ColliutI -tike amccnrell between the Uwncr ant <br />Iirc r'olrnaclor idenribed nn rite ei,t+rnure page, including at <br />t"nnnaet Uncumctlls and changes llwitio. <br />12..3. ('ontmorim Default: Failure of the ['lnnrnC'tllr, which has ncilhei <br />I+evo remedied mor waived, to prrfi11lr lir oflienvise to comply <br />]till dieon <br />Ics of the C'11usntkr(irm I011lr3ct. <br />I! I ri•.tnur I)cI.oIIP: Failure of Ills t)wier. tt-hich has neither [)carr <br />IVIIICtrrd mu vr,riMerl, In p:ry the ('Noatnclor as lauded by ib <br />( "„ll IML line 4'a1tllarI Ill l N� pctlinnl arlll t•Noiiplete OF cun,111y wit] <br />lila nlhrr PVr11S Ilreleol, <br />I(FOR INFORMATION ONLY - Na mo, Adlirc: •.tw,l I cleph,an•t <br />AGENT orBROKER: J4117) 814-11022 till'NIR'S RIITI•til141AIIVI-IAtLIuteti.FPlginverorolla[rImply) <br />` <br />Gulltowd Company <br />11'1114 Ilial f .IiCiC, i.ongttao6, 1:1- 1' 'lql <br />