i!
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<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 />
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