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<br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />PERFORMANCE BOND <br /> <br />KNOW ALL HEN BY THESE PRESENTS THAT <br /> <br />as Principal, hereinafter called the Contractor, and <br /> <br />as Surety, hereinafter called the Surety are held and firmly bound unto <br /> <br />as Obligee, hereafter called the Owner, in the sum of <br /> <br />Dollars <br /> <br />($ <br /> <br />) for the payment whereof the Contractor and the Surety bind <br /> <br />themselves, their heirs, successors, administrators, executors, and assigns, <br /> <br />jointly and severally, firmly by these presents. <br /> <br />WHEREAS, the Contractor has by written agreement dated <br /> <br />19___entered into a Contract with Owner for <br /> <br />in accordance with drawings and specifications prepared by <br /> <br />which agreement, hereinafter referred to as the Contract, is by reference made <br /> <br />a part of this bond as is fully set forth herein. <br /> <br />NOW, THEREFORE, THE CONDITIONS OF THIS OBLIGATION are such that, if the Con- <br /> <br />tractor shall promptly and faithfully perform said Contract,.then this obliga- <br /> <br />tion shall be null and void; otherwise, it shall remain in full force and <br /> <br />effect, and: <br /> <br />1. Whenever the Contractor shall be, and so declared by the Owner, <br />in default under the Contract, the Owner having performed the Owner's obliga- <br />tions thereunder, the Surety may promptly remedy the default, or shall prompltly: <br /> <br />a. Complete the Contract in accordance with its terms and <br />conditions, or <br /> <br />-PB-l- <br />