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BK, : 2079 PG : 1164 5 If a notice required by Paragraph 4 is 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 sufficient compliance . tation available to sureties as a defense in the jurisdiction of the suit 6 When the Claimant has satisfied the conditions of Paragraph 4 , the shall be applicable . Surety shall 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 6 . 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 was 7 The Surety 's total obligation shall not exceed the amount of this to be performed , any provision in this Bond conflicting with said 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 Construc- shall be deemed incorporated herein . The intent is that this Bond shall 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 made . performance of the Construction Contract are 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 Owner's 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 limi- Contract . The Owner shall not be liable for payment of any costs or tation in the terms " labor, materials or equipment" that part of expenses of any Claimant under this Bond , and shall have under this water, gas , power, light , heat, oil , gasoline , telephone service or Bond no obligation to make payments to , give notices on behalf of, rental equipment used in the Construction Contract, architectural 10 The Surety hereby waives notice of any change , including changes or otherwise have obligations Claimants under this Bond . and engineering services required for performance of the work of the Contractor and the Contractor' s subcontractors , and all other of time , to the Construction Contract or to related subcontracts , pur- items for which a mechanic' s lien may be asserted in the jurisdic- tion where the labor, materials or equipment were furnished . 11 No suit or action shall be commenced by a Claimant under this 15 . 2 Construction Contract: The agreement between the Owner Bond other than in a court of competent jurisdiction in the location and the Contractor identified 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 last 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 nor waived , to pay the Contractor as required by the Con- equipment were furnished by anyone under the Construction Con - struction 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 parties , other than those appearing on the cover page . ) CONTRACTOR AS PRINCIPAL SURETY (Corporate Seal) Company: (Corporate Seat) Company: Signature: Signature : Name and Title : Name and Title: Address: Address : Page 2 of 2 A TRUE COPY CERTIFICATION ON LAST PAGE J . K. BARTON , CLERK