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DocuSign Envelope ID:07C464C4-FDB6-434A-A01B-558064E4E858
<br /> PO#:461001815
<br /> Routing#:22-HA3-ZG-00070
<br /> Bond No.: K40277602
<br /> EXHIBIT B,PERFORMANCE BOND
<br /> KNOW ALL PERSONS BY THESE PRESENTS,That we IHC SCOTT INC of the County of Arapahoe, in
<br /> the State of Colorado as Principal, and
<br /> Federal Insurance Company of Indianapolis , in
<br /> the State of Indiana as surety,are held and firmly bound unto the STATE OF COLORADO,in
<br /> the penal sum of TWENTY-SEVEN MILLION SIX HUNDRED NINETY-FIVE THOUSAND DOLLARS
<br /> AND ZERO CENTS ($27,695,000.00),with interest thereon at the rate of eight percent(8%) per annum,until
<br /> paid in good and lawful money of the United States of America, for the payment whereof,well and truly to be
<br /> made,we bind ourselves,our and each of our heirs,administrators,executors,successors and assigns,jointly and
<br /> severally,firmly by these 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 2/16/2022 , , for
<br /> the construction of a project described as Colorado Project No.NHPP 0131-057- 17881RC, located on SH 13
<br /> MP 11 -MP 16.5 in Garfield County in the State of Colorado. The work consists of WIDENING FROM 26'TO
<br /> 40',NEW PASSING LANES,CHAIN UP AREA AND MINOR HORTIZONTAUVERTICAL ADJUSTMENT;
<br /> said work of construction to be done according to the requirements of said contract;
<br /> NOW THEREFORE,if the said Principal shall at all times duly and faithfully discharge its,his or their duties
<br /> under said contract,and shall duly and faithfully perform all the obligations thereof,and shall and will indemnify
<br /> and save harmless the State of Colorado, and all persons as provided by the Statutes of the State of Colorado,
<br /> from any and all damages or loss which the said State of Colorado or any persons as provided by the Statutes of
<br /> the State of Colorado may or shall suffer by reason of the default of the Principal or anyone acting for him as sub-
<br /> contractor or otherwise in the performance of this contract,or by reason of any failure on the part of said Principal,
<br /> his agents, servants or employees, his sub-contractor or sub-contractors, or any of them, in the performance of
<br /> said contract or any portion thereof,these presents shall become void, otherwise to be and remain in full force
<br /> and 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.
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