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]. 77rc CONTRACTOR aril Ore Surly, jointly all severally, bind Oemsclves, Heir
<br />heirs, exesrmrs, adrninistntars, sutxxssms and assigre m the Ownr fm the
<br />perfotrrunre of the Coranc4 which is mcorpaamd herein by rcfereree.
<br />2. If Oe CONCRACTOR performs Ote Camras, the Surety all the CONTRACTOR
<br />have ro obligation uMO this Bord, except m participate N cortfeterces as provided in
<br />paragraph 3.1.
<br />3. If Oere tr ro OWNER Defaul4 Oa Surety's obligation order Orin Bord shall aria
<br />after:
<br />3,1. 11te OWNER has rtotifed Oe CONTRACTOR aqd de Surly u the
<br />addresses described hr poagraph 10 below, that dte OWNER is tooidaing
<br />declaring a CONTRACTOR Default aril has rcquestrd all atrempad m
<br />arrange a txnfarnce with Ore CONTRACCOR std tle Surety m 6e Ittld rta
<br />later tlutr fi[acn days afar tempt of ouch notice m discuss meOeds of
<br />performing Oe Conuau. It tle OWNER, the CONTRACTOR all Oe
<br />Surety Agra, tle CONTRACTOR dull be illowed a teasoreble time m
<br />perform tle Contnc4 but atrctr an agreemeru shill rot waive Oe OWNf7t's
<br />right, if any, subsequenOy m dalue a CONTRACTOR De(w11; aril
<br />3.2. The OWNER has declared a CONTRACTOR Defwlt aril foroully
<br />armireled 111e CONI'RACTOR'a right m anstplese Ile Cormxt. Such
<br />CONTRAC[OR Default shill not he deWrd artier Nan tweray days afar
<br />Ua CONCRACCOR all the Surety have raeived rotia u Provdrd in
<br />paragraph 3.1: aril
<br />3.3. The OWNER has agreed m pay Oe Balance of tle Comras Prig m:
<br />3.3.1. The Surety in ataxudarra wiN tle arms of the CoruraU;
<br />3.3.2 Anaher comumr sdectcd putauam m paragraph 4.] m perform the
<br />Canvact.
<br />4. When the OWNER Ins satisfied tltc rnrditian of paragraph 3, tle Surnty shall
<br />prompOy and u the Surety's espetne take ore of the following au'am:
<br />4.1. Arrange ten the CONTRACTOR wiN twine of Ne OWNER, m pMorm
<br />aril amplue Oe Comnc4 or
<br />6.2. Urdettake m perform all contplse Oe Contrau itstl[, through its ageas
<br />or tfuough itdeperdent mnrracmrs: or
<br />4.3. Obuin bids m rcgatiaad proposals ham qualified tonnasors atapable
<br />m Oe OWNER fm a coanct fm perfmtrrurce and rnupletiat of tle
<br />Comm, arrange for a COtrtrara m be prepared for uealion by Oe
<br />OWNER and Oe oormacmr selected wbh the OWNER's cottntrrerta, m be
<br />soured wiN perfomuree coil payrrem bonds extorted by a qualified surety
<br />equivakm m the Binds i4wted re de Contru4 ud pay m the OWNER Ne
<br />arrwa of damages as desafied in paragraph 6 in excess of Ne lsakrce of
<br />rle Cortvact Price itwrred by the OWNER tesultrrrg from Ore
<br />CONTRACTOR 11<faul[; or
<br />4.4. Waive hs rieJn m perform all rnmplea, arrange fm completion, or obuin
<br />a new coaracmr acrd wiN tnsoreble ptprlWrnCCY order the rtrantsarcts;
<br />6.4.1 Alts invrstrgatiort. desrmirc tle amount fm whictt it may b< liable
<br />to the OWNER aril, as soon u practicable afar the amount is
<br />dncmrired, teller payrrera tiercfm m the OWNER; o
<br />d.4.2 Deny IiabBity N whole or N part all ramify tle OWNER citing
<br />rcasoru therefor.
<br />5. I( Ne Surety does rent proceed as provided N paragraph d wiN reasonable
<br />prorFtmess, de Surety shall be deemed m~be N default rm Nis Bond fifteen daYE afar
<br />tece~t of an additioml written rotia from the OWNER m the Surety demaMing tlot
<br />the Surty perform its obligatkts allot Nis IioM, and the OWNER dull M emiOed m
<br />enforce any remWy available m Oe OWNER- If Ore Surety proceeds ss provided in
<br />paragraph 4.4, aril Oe OWNER refuses tle paymem arderrd err Ne Surety hu denied
<br />liability, in wMle or in pan, withau further rrotice the OWNER drill be adiOed to
<br />entora arty renedy avaiable m tlse OWNER
<br />6. After Ne OWNEA Isar urmireed tle CONTRACTOR's right m contpka the
<br />Comuc4 all it the Surety clear m xt under paragraph 4.1, 4.2, or 4.3 about, tlen
<br />the resporeibOitres of the Surety b the OWIfFR dull rot be greats tlun throe o(Oe
<br />CON17tAC1Y)R arrder the Corona, all tle respomrbilhies of Ne OWNER m Ne
<br />Stusy dull not be gtoser than Nose of Oe OWNE7t under the Contras. To a lim'u of
<br />the nowt[ of Nis Boll, but subjsct m commioren[ by the OWNER of the Balarcc of
<br />Ne Comnct Prke m mitigation of mss all davnga w the CaNac4 the Surety o
<br />obligated wirlput dupliaiom fm:
<br />6.1. The respomibilidts of Ore CONTRACTOR fm tantation of defective
<br />Work and cgnplesian of de Catmac4
<br />6.2. Addidonil legil, design professiorel and dtlay oar resddmg horn the
<br />CONIItACTDR'a I)efwh, aril resdting Iran Ne action m faihue m act
<br />of tle Surety uMm paragraph 4; surd
<br />6.3. l.iquidatad damages, m if ro liquidated damages are apedfed m the
<br />Contract, asuil damages nosed by delayed perfrrrnwta w rroo-
<br />perfarttana of the CONTRACTOR.
<br />7. The Surety dull rot be liable m tl¢ OWNTA m otlers for obligattau of Oe
<br />CONTRACTOR Out arc unrclakd m Oe Cmmu4 soil Ue Balarce of the Contrxt
<br />Prig doll trot be rNwN m ss off m saws of any such umelaad obligatiorn. No
<br />right of asiat stall accrue an Nit Bad m arty pvason w entity odor Kars tle OWNER
<br />or its heirs. exeamrs, adminiatramrs, m sutxeawrs.
<br />8. The Surety hereby waives entice of any durtge, ircludirtg ctsatrgrs of time, m the
<br />Corusact w m related subaauraar, purchase orders aril otler obliprion.
<br />9. Arty prmaedigg, legil m equiubk, under Uds Bad may be imriorad'm any coon
<br />of crospeam jurisdicOm m Oe lonrioo m which tle Work m pan of the Wmk is
<br />loravd all altall he'vmiorad wiNirt two years after CONTRACTOR DefauR m wiNin
<br />two years afser the CONRtAC1OR oared socking a wiNi0 two yeas after dte Surety
<br />rcimrs m fails m perform bs abliguiotu ttrdm Nis Bond, whirLevrr opus fast. If the
<br />provision of Nis paragraph are void or prohNiaed by law. the mmhrom Pcriod of
<br />limiution available m sureties as a deferoe in tle jurisdiction of de suit shall be
<br />applinble.
<br />l0. Nona m the Surety, the OWNER m Ore CONTRACTOR shall be mailed m
<br />delivered m the address shown on the sigtumue page.
<br />tl. When this Good has ban tutnided m wtrrpty whh a statutory m oNer legal
<br />rtqu'verttea k the loatim whore Ne Camact was he performed. arty provision N dos
<br />Bad omtfficOrtg wiN said daumtry m legal rryuirarxnt shill 6e deemed delved here
<br />from aril proviskn tonfomtittg m such wmtory m orbs legal requirtsrcm dull be
<br />deemed irtwrporavd herein. the intern a Nat Nis Boll shall be consuuW u a
<br />summry God all tan u a rorttmon law bend.
<br />12. Definition.
<br />12.1 Balatre of the Comras Prtoe: The tonl arrwm payable by the OWNER m
<br />the CONTRACTOR order rte Comrau afar all proper adjusurcras have
<br />ban made, iteludiog illowarta m Ue CONTRACTOR of arty artwms
<br />teaia+ed m m be raxxived by rte OWNFA in seNeareru o(irmuana m
<br />oOer (]sure fm damages m which tle CONTRACIOR'n adOed, rcduoed
<br />by alI vilid acrd proper payments made m m on betulf of Ne
<br />CONTRACTOR order Ore Catttrau.
<br />12.2. Caaract: 'lte agremrem berweea the OWNER sad Ore CONTRACTOR
<br />identifed on tle sigremrc page, uttluding ill Contra[ Ibautentt aril
<br />tdunges thereto.
<br />12.3. CONTRACTOR DUau1C Failure of the CONTTACTOR whirr has miler
<br />beep remrdied rot waived, m pcrfaum or adxrwirc m comply wiN the
<br />foram of der Contract.
<br />12.6. OWNER Default Failure of de OWNER, whidt Ins reirlrr ban nrmdied
<br />nor waived, m pay the CONCRACTOR as required by de Coroas or m
<br />putorm aril mnmka err uartply wiN the Wet terms Oereo(.
<br />i (FOR INFORMATION ONLY-Name, Address and Telephone)
<br />AGENT or BROKER: OWNER'S REPRESENTATIVE (EBgineet or other party): I
<br />nro_o
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