2004-200A - Laserfiche WebLink

Home Browse Search

BK : 1778 PG : 780 5 if a notice required by Paragraph 41s given by the Owner to the Con- Paragraph are void or prohibited by law, the minimum period of limi- tractor or to the Surety, that Is suf8clent compliance. tatlon available to sureties as a defense in the jurisdiction of the suit Often the Claimant has satisfied the conditions of Paragraph 4, the shall be applicable. Surety shell promptly and at the Surety's expense take the following 12 Notice to the Surety, the Owner or the Contractor shall be mailed actions: or delivered to the address shown on the signature page. Actual 8.1 Send an answer to the Claimant, with a copy to the Owner, receipt of notice by Surety, the Owner or the Contractor, however within 45 days after receipt of the claim, stating the amounts that accomplished, shall be sufficient compliance as of the date received are undisputed and the basis for challenging any amounts that are at the address shown on the signature page. disputed . 13 When this Bond has been furnished to comply with a statutory or 6.2 Pay or arrange for payment of any undisputed amounts. other legal requirement in the location where the construction wee 7 The Surety's total obligation shag not exceed the amount of this to be performed, any provision In this Bond concocting with sold statu- Bond, and the amount of this Bond shall be credited for any payments tory or legal requirement shall be deemed deleted herefrom and made In good faith by the Surety, provisions conforming to such statutory or other legal requirement 8 Amounts owed by the Owner to the Contractor under the Construo• shag be deemed Incorporated herein. The intent is that this Bond shag tion Contract shall be used for the performance of the Construction be construed as a statutory bond and not as a common law bond. Contract and to satisfy claims, if any, under any Construction Perfor- 14 Upon request by any person or entity appearing to be a potential mance Bond. By the Contractor furnishing and the Owner accepting beneficiary of this Bond, the Contractor shall promptly furnish a copy this Bond, they agree that all funds earned by the Contractor in the of this Bond or shall permit a copy to be mode. performance of the Construction Contract aro dedicated to satisfy obli- 15 DEFINITIONS gations of the Contractor and the Surety under this Bond, subject to 15. 1 Claimant: An Individual or entity having a direct contract with the Owners priority to use the funds for the, completion Of the work the Contractor or with a subcontractor of the Contractor to furnish 9 The Surety shall not be liable to the Owner, Claimants or others for labor, materials or equipment for use in the performance of the obligations of the Contractor that are unrelated to the Construction Contract The Intent of this Bond shall be to Include without Jim!- Contract The Owner shall not be liable for payment of any costs or tstion in the terms "labor, materials or equlpmenr that part of expenses of any Claimant under this Bond, and shalt have under this water, gas, power, light, heat, off, gasoline , telephone service or Bond no obligation to make payments to, give notices on behalf of, rental equipment used in the Construction Contract, architectural or otherwise have obligations to Claimants under this Bond. and engineering services required for performance of the work of 10 The Surety hereby waives notice of any change, Including Mangos the Contractor and the Contractors subcontractors, and all other of time, to the Construction Contract or to related subcontracts, pur- hems for which a meehanWs lien may be asserted in the jurisdic- chase orders and other obligations. ton where the labor, materials or equipment were furnished . 11 No suit or action shall be commenced by a Claimant under this 16.2 Construction Contract The agreement between the Owner Bond other than in a court of competent jurisdiction in the location and the Contractor identmed on the signature page, Including all In which the work or part of the work is located or after the expiration Contract Documents and changes thereto. of one year from the date (1 ) on which the Claimant gave the notice required by Subparagraph 4.1 or Clause 4.2.3, or (2) on which the lost 15.3 Owner Default: Failure of the Owner, which has neither been labor or service was performed by anyone or the last materials or remedied tar waived, to pay the Contractor as required by the Con- equipment were furnished by anyone under the Construction Con- srructlon Contract or to perform and complete or comply with the tract, whichever of ( 1 ) or (2) first occurs. If the provisions of this other terms thereof. MODIFICATIONS TO THIS BOND ARE AS FOLLOWS: (Space Is provided below for additional signatures of added partes, other than those appearing on the cover page. ) CONTRACTOR AS PRINCIPAL SURETY (Corporate Seat) Company: (Corporate Seal) Company : Signature: Signature : Name and Title : Name and Title: Address: Address: Pape 2 of 2