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AND THE SAID SURETY, for value received here6y-sfipulates ard'agrees that whenever the'Principal shall be, <br /> and declared by,tlle ,Principal Representative to be in default under said Contract, the State of Colorado having <br /> performed its obligations thereunder, the Surety may promptly remedy the default or shall promptly (1) Complete <br /> the Contract in accordance with its terms and conditions, or (2) Obtain a bid or bids for submittal to the Principal <br /> i Representative for ompleting the Contract in accordance with its terms and conditions, and upon determination <br /> by the Principal Representative and Surety of the lowest responsible bidder, arrange for a contract between such " <br /> bidder and the State of Colorado acting by and through the Principal.Representative and make•available as work <br /> progresses (even though there should be a default or a succession of defaults under the contract or contracts of <br /> completion arranged under this paragraph) sufficient funds to pay the cost of completion, less the balance of the <br /> contract price but not exceeding, including other costs and damages for which the Surety may be liable hereun- <br /> der, the amount hereinbefore set forth. The term "balance of the contract price" as herein used shall mean +he total <br /> amount payable to the Principal under the Contract and any amendments thereto, less the amount properly paid <br /> by the State of Colorado to the Contractor. <br /> No right of action shall accrue on this bond to or for the use of any person or corporation other than ,ne <br /> State of Colorado. <br /> IN WITNESS WHEREOF, the Principal and the Surety have executed this Bond, this— 17TH <br /> day of APRIL A.D., ,19 95 <br /> (Corporate Seal) PRINCIPAL <br /> KESSLER'S RECLAMATION <br /> ATTEST: gy��-�`����-�._� <br /> Title <br /> Secretary <br /> (Corporate Seal) SURETY <br /> TIG P INSURANCE COMPANY <br /> By <br /> Attorney-in-fact <br /> TERRENCE E_ DREILING <br /> THIS BOND MUST BE ACCOMPANIED.BY A POWER OF ATTORNEY, EFFECTIVELY DATED <br /> Note: This bond is issued simultaneously with <br /> another bond conditioned for the full <br /> and faithtul payment for all labor and <br /> material of the,contract. <br /> State Form SC-6.22 <br /> Issued 9/1/65 (Rev. 7/1/70( <br />