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<br />State of Colorado
<br />Bond No. 190542662 Department oC Transp.ortation
<br />PAYMENT BOND
<br />KNOW ALL MEN BY THESE PRESENTS, That we Elam Construction, Inc.
<br />o~ the County of Mesa, in the State of Colorado, as Principal, and
<br />erican Casualty Company of
<br />~€4tead#ag,-~ettasyivarrfe----- --Ong--------------' to the State of
<br />pann~lYania as surety, are held and firmly bound unto the STATE OF
<br />COLORADO, in the penal sum of SIX MILLION FIVE HUNDRED SEVENTY FOUR
<br />THOUSAND THREE HUNDRED DOLLARS (56,574,300.00), with interest thereon
<br />at the rate of eight percent (8%) per annum until paid, in good and lawful money of
<br />the United States of America, Cor the payment whereof, well and truly to be made,
<br />we bind ourselves, our and each of our heirs, administrators, executors, successors
<br />and assigns, jointly and severally, firmly by these presents.
<br />The condition of the obligation is that the Principal and the State of Colorado
<br />acting by and thro h the Princip 1 Representative have entered into a certain
<br />Contract, dated ~~j `l~ ~7~, 1999, for the construction of a PR07ECT
<br />described as Color do State Project No. SP 0501-037, located on US 50 south of
<br />Grand Junction from Whitewater (MP 42.0) east to MP 45.95 in Mesa County in the State
<br />of Colorado. The work consists of major widening to create two travel lanes with
<br />shoulders involving earthwork, paving, CBC, culverts, guardrail, signing ,striping and
<br />traffic control; said work of construction to be done according to the requirements of
<br />said contract;
<br />NOW, THEREFORE, if the said Principal, his sub-contractor or stib-
<br />contractors, and each and all of them, shall duly pay for all labor, materials, and
<br />other supplies used or consumed in the performance of the work contracted to be
<br />done or any part thereof, and if the said Principal shall also fully indemnify and
<br />save harmless the State of Colorado, and all persons as provided by the Statutes of
<br />the State of Colorado, from any and all damages or loss which the said State of
<br />Colorado or any persons as provided ;,y the Statutes of the State of Culorado, may
<br />or shall suffer by reason of the default of the Principal or anyone acting for him as
<br />sub-contractor in connection with such payments, these presents shall become void,
<br />otherwise to be and remain in full force and effect.
<br />THE STATE OF COLORADO shall be under no obligation, except as expressly
<br />provided by statute, to withhold any sums due the said Principal under the terms of
<br />this contract, or to protect in any other way the surety or sureties, claimants or
<br />others.
<br />coot ro~„~.es s~ce
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