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DocuSign Envelope ID:091B214E-43C3-46BE-858E-7D244AE75A25 Bond No. 107232459 <br /> PO#:461001440 <br /> Routing#:20-HA5-ZG-03104 <br /> EXHIBIT C,PAYMENT BOND <br /> KNOW ALL PERSONS BY THESE PRESENTS,That we APC SOUTHERN CONSTRUCTION CO LLC <br /> Travelers casualty and surety Company <br /> of the County of Jefferson, in the State of Colorado as Principal, and of nmP,i ca <br /> of Hartford , in the State of CT as surety, are <br /> held and firmly bound unto the STATE OF COLORADO, in the penal sum of TWENTY-ONE MILLION <br /> THREE HUNDRED NINETY THOUSAND FIVE HUNDRED DOLLARS AND ZERO CENTS <br /> ($21,390,500.00),with interest thereon at the rate of eight percent(8%)per annum,until paid in good and lawful <br /> money of the United States of America,for the payment whereof,well and truly to be made,we bind ourselves, <br /> our and each of our heirs,administrators,executors,successors and assigns,jointly and severally,firmly by these <br /> presents. <br /> The condition of the obligation is that the Principal and the State of Colorado acting by and through the Principal <br /> Representative have entered into a certain Contract,dated May 21 2020 , for <br /> the construction of a project described as Colorado Project No.NHPP 0171-105-20626,located on SH 17(ON <br /> NHS) SOUTH OF HOOPER TO MOFFAT in Alamosa County in the State of Colorado. The work consists of <br /> SURFACE TREATMENT AND SHOULDER WIDENING; said work of construction to be done according to <br /> the requirements of said contract; <br /> NOW THEREFORE,if the said Principal,his sub-contractor or subcontractors,and each and all of them,shall <br /> duly pay for all labor,materials,and other supplies used or consumed in the performance of the work contracted <br /> to be done or any part thereof,and if the said Principal shall also fully indemnify and save harmless the State of <br /> Colorado,and all persons as provided by the Statutes of the State of Colorado,from any and all damages or loss <br /> which the said State of Colorado or any persons as provided by the Statutes of the State of Colorado may or shall <br /> suffer by reason of the default of the Principal or anyone acting for them as sub-contractor or otherwise in <br /> connection with such payments,these presents shall become void,otherwise to be and remain in full force and <br /> effect. <br /> THE STATE OF COLORADO shall be under no obligation, except as expressly provided by statute, to <br /> withhold any sums due the said Principal under the terms of this contract,or to protect in any other way the surety <br /> or sureties,claimants or others. <br /> No representation or statement of the Principal made to the surety or sureties in application for this bond, or <br /> otherwise,shall be read into or be a part of this bond or binding in any way on the obligee herein. <br /> No assignment by Principal to surety of the proceeds of such contract shall be binding,except as to any net surplus <br /> after paying all claims chargeable by law or by said contract,against the proceeds thereof. <br /> No extension of time of performance of said contract or delay in the completion of the work there under shall <br /> invalidate this bond or release the liability of the surety there under. <br /> This agreement shall not be deemed valid until it shall have been approved by the Controller of the State of <br /> Colorado,or such assistant as he may designate. <br /> Document Builder Generated Page 33 of 53 Version 0819 <br />